South Korean insurance market in Q1 2021

According to the data released by the Financial Supervisory Service (FSS), South Korean insurers have recorded a turnover increase of 3.6% in the first quarter of 2021.

The premium volume has grown from 50 688 billion KRW (41.3 billion USD) in the first quarter of 2020 to 52 492 billion KRW (46.25 billion USD) a year later.

The net profit of all insurance companies has risen by 164.1% to 3 872 billion KRW (3.4 billion USD) against 1 466 billion KRW (1.19 billion USD) during the same period in 2020.