The Financial Supervisory Service said on Jan. 6 that the insurance companies' K-ICS solvency ratio after applying transitional measures stood at 210.8% as of the end of September last year. That was up 4 percentage points from 206.8% at the end of June last year.
A total of 18 insurers, including 12 life insurance companies and six non-life and reinsurance companies, are selectively applying the transitional measures.
By sector, life insurers' solvency ratio rose 0.5 percentage points from the previous quarter to 201.4%, while non-life insurers' solvency ratio climbed 9.5 percentage points over the same period to 224.1%.
Before applying the transitional measures, insurers' solvency ratio was 196.8% at the end of September last year, up 4.7 percentage points from 192.1% in the previous quarter. Life insurers rose 2 percentage points from the previous quarter to 183.1%, and non-life insurers increased 9.5 percentage points to 217.0%.
The financial authorities plan to continue supervision so that overall risk management related to assets, liabilities, and loss ratios can be strengthened, focusing on insurers with weak solvency ratios.