News Life and Health21 Jun 2018

South Korea:1Q2018 premiums of insurers slide by 8.7%

21 Jun 2018

The combined premiums at life insurance companies in South Korea fell by 8.7% year on year in the first quarter of this year, according to data released by the Financial Supervisory Service.

Life insurers saw their combined premiums fall to KRW26.1 trillion ($23.5 billion) from January to March, down by KRW2.4 trillion from a year earlier, according to data by the Financial Supervisory Service.

In particular, their premiums from savings insurance products plunged by 60.8% year on year to KRW1.6 trillion for the quarter, the data show.

 

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