The performance polarization between large insurance companies and small to medium-sized insurance companies is intensifying. While large companies have achieved record-high results, small and medium-sized companies are seeing their profits decline each year. The introduction of the new accounting s...
Insurance products that guarantee pregnancy, childbirth, and infertility are gaining popularity. Until now, pregnancy and childbirth had not received insurance benefits because they were not considered 'accidental incidents.' However, as financial authorities have included pregnancy and childbirth a...
The net income of 22 life insurance companies and 32 non-life insurance companies last year was 14.144 trillion won, an increase of 628.2 billion won (4.6%) from the previous year. The life insurance companies recorded 5.6374 trillion won, an increase of 7.1% (373.6 billion won), while the non-life ...
The financial authorities decided to relax the acquisition and merger (M&A) criteria for the restructuring of savings banks, and it has been found that 9 savings banks meet the relaxed M&A criteria. Another 10 savings banks are close to the criteria. On the 20th, the Financial Services Commission an...
Carrot General Insurance announced on the 24th that it has established the "Carrot Electric Vehicle Emergency Service Special Clause" to enhance emergency services for Hyundai Motor electric vehicles. This special clause applies to contracts that become effective starting April 1 of this year. Elect...
After 1 year and 8 months since the launch of its overseas travel insurance, Kakao Pay Insurance has expanded into the domestic travel insurance market, securing 3 million subscribers. Kakao Pay Insurance noted that it has launched the 'Domestic Travel Insurance Together' to cover various risks that...
Mirae Asset Life Insurance's subsidiary, Mirae Asset Financial Services and PS Pine Service, is reported to have engaged 97 insurance planners in the 'PS Financial Ponzi scheme,' raising 140.6 billion won from 756 investors by means of illegal fundraising. Of this amount, 34.2 billion won remains un...
From March 17 to 21, the virtual asset market rose on comments from Jerome Powell, Chairman of the Federal Reserve, regarding 'the possibility of reconsidering interest rate cuts,' but fell again as sell orders surged. Experts urged caution, noting that the likelihood of increased volatility in the ...
The savings bank sector has made the sale of troubled real estate project financing (PF) loans its top priority this year. With demand decreasing due to a downturn in the real estate market, the plan is to begin cleanup of troubled loans through auctions and the establishment of joint funds for the ...
Last year, the arrears rate of savings banks soared to 8.52%, driving the overall increase in arrears rates. The ratio of non-performing loans overdue for more than three months also exceeded 10%. The continued deterioration of soundness due to the failure of real estate project financing loans is e...
