HONG KONG, June 4 (Bernama-BUSINESS WIRE) —AM Best has maintained its stable outlook on South Korea’s non-life insurance segment, noting a continued refinement of the country’s domestic solvency standards that have helped strengthen insurers’ capital management.
Additional factors include moderate growth in the long-term and general insurance segments, and efforts to improve profitability in the former as well as in investment strategies. However, AM Best notes an offsetting factor of slow growth prospects and weakened underwriting profitability in South Korea’s auto insurance segment.