Fitch retains stable rating on Korean insurers despite sharp drop in profits at half year

Fitch Ratings has maintained a stable outlook for the Korean insurance sector despite a sharp drop in profits reported by leading non-life and life insurers in the country at the half-year stage. Fitch said the strengthening of capital adequacy following the tightening in South Korea’s regulatory capital regime will offset the downward pressure on the insurers’ financial performance. Expected price…

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