SEOUL, Sept. 19 (Korea Bizwire) – A financial consumer organization warned more caution when dealing with foreign life insurance companies as they committed more financial frauds than Korean counterparts. According to the Korea Finance Consumer Federation (KFCF)’s analysis on the status of financial frauds including misappropriation of 24 life insurers for the past three years, [...]
SEOUL, Aug. 23 (Korea Bizwire) – It is expected that from the year of 2018 the more drivers may have accidents, the more they will pay insurance premiums, regardless of the damage size. According to the revision of the auto insurance premium ratings system by the Financial Supervisory Service (FSS), the current system determined by the [...]
SEOUL, July 25 (Korea Bizwire) – Financial regulators ordered ING Life to pay full death benefits to the families of suicide victims. The Financial Supervisory Service on July 24 held a deliberation committee meeting and decided to penalize the life insurance company for not paying a proper amount of insurance money, with a corresponding order to redress. According [...]
![[Kobiz Stats] Annual Rate of Profit of Variable Insurance Funds in Korea](http://koreabizwire.com/wp/wp-content/uploads/2014/04/변액보험-수익률-영문.jpg "[Kobiz Stats] Annual Rate of Profit of Variable Insurance Funds in Korea")
[Related Article] Insurance Companies Are Losing Money in Variable Funds (Korea Bizwire, April 16) Variable life insurance funds, the bread-and-butter of life insurance companies, are recording a very low rate of return. Over the last year, their average yield was 0.81 percent with about 40.6 percent of the funds having recorded deficit. On April 15, [...]
SEOUL, Korea, April 16, 2014 (Korea Bizwire) –Variable life insurance funds, the bread-and-butter of life insurance companies, are recording a very low rate of return. Over the last year, their average yield was 0.81 percent with about 40.6 percent of the funds having recorded deficit. On April 15, the Korea Finance Consumer Federation (KFCF) reported [...]