HONG KONG, June 27 (Bernama-BUSINESS WIRE) — AM Best is maintaining its stable outlook on South Korea’s non-life insurance segment, citing improved performance of the long-term insurance line of business and greater stability in auto profitability.
In a new Best’s Market Segment Report, “Market Segment Outlook: South Korea Non-Life Insurance,” AM Best states that long-term insurance, the largest business line in the non-life industry, maintained stable growth of approximately 4% in 2022 due to continued expansion of the recurring premium base and strong new business generation from health products.