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Incentives for small insurance companies in South Korea

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Magazine Issue: 
FANAF: The delicate use of dialogue [3]
Magazine date: 
Mar 2020

South KoreaThe supervisory authorities are considering relaxing the regulatory requirements governing the share capital of insurers.

Small non-life insurance companies could thus be licensed to offer simple risks with a minimum capital of 1 billion KRW (860 000 USD). According to the current legislation, the share capital of a composite insurance company (life and non-life) is of 30 billion KRW (25 800 000 USD).

These measures could be introduced as part of the "2020 Financial Industry Innovation Policy Promotion Plan”.

Read also | South Korea insurance news [4]

Wed, 18/03/2020 - 12:00

Source URL: https://www.atlas-mag.net/en/article/incentives-for-small-insurance-companies-in-south-korea

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