South Korea’s five leading non-life insurers saw their auto insurance loss ratio surge to 88.5% in January, up 6.7 percentage points year-on-year, prompting premium hikes amid rising claims and costs.
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Auto Insurance Loss Ratio Rises to 88.5% in January—Up 6.7 Percentage Points Year-on-Year
South Korea’s five leading non-life insurers saw their auto insurance loss ratio surge to 88.5% in January, up 6.7 percentage points year-on-year, prompting premium hikes amid rising claims and costs.
South Korea’s second-tier non-life insurers posted weaker earnings in 2023 amid rising loss ratios, but are pursuing differentiation strategies as premium hikes and investment returns are expected to bolster profitability this year.
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Fierce Competition Among Second-Tier Non-Life Insurers Spurs Differentiation Efforts Despite Weak Earnings
South Korea’s second-tier non-life insurers posted weaker earnings in 2023 amid rising loss ratios, but are pursuing differentiation strategies as premium hikes and investment returns are expected to bolster profitability this year.
Auto Insurance Loss Ratio Rises to 86.9% in 2025—Up 3.7 Percentage Points Year-on-Year
South Korea's top non-life insurers saw their auto insurance loss ratio rise to 86.9% in 2025, up 3.7 percentage points year-on-year, as premium cuts and increased claims weighed on profitability.
South Korea’s top non-life insurers saw their auto insurance loss ratio climb to 87.6% in October, up 2.2 percentage points year-on-year, as premium cuts and rising repair costs continue to pressure profitability.
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Auto Insurance Loss Ratio Rises to 87.6% in October, Extending Upward Trend Year-on-Year
South Korea’s top non-life insurers saw their auto insurance loss ratio climb to 87.6% in October, up 2.2 percentage points year-on-year, as premium cuts and rising repair costs continue to pressure profitability.
Samsung Fire & Marine Considers Auto Insurance Premium Hike Next Year—Extra Dividend Possible if Samsung Electronics Retires Treasury Shares
Samsung Fire & Marine Insurance is considering raising auto insurance premiums in 2025 amid rising loss ratios, while signaling potential extra dividends if Samsung Electronics retires treasury shares.
South Korea’s auto insurers face surging loss ratios as the government and industry seek data-driven grounds to cap minor injury treatment at eight weeks, aiming to curb excessive claims and limit premium hikes amid mounting deficits.
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Auto Insurance Loss Ratios Worsen—Insurers Focus on Evidence for 8-Week Treatment Limit for Minor Injury Claims
South Korea’s auto insurers face surging loss ratios as the government and industry seek data-driven grounds to cap minor injury treatment at eight weeks, aiming to curb excessive claims and limit premium hikes amid mounting deficits.
Non-life Insurers to Raise Premiums by Up to 10%—Negative Spread Worsens Amid Falling Interest Rates
South Korea’s major non-life insurers will raise long-term insurance premiums by up to 10% next month, as falling interest rates force a cut in assumed rates and intensify negative spread concerns.
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