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International

Rate hikes, less competition to drive insurers' profitability

November 08, 2018 Reprints

A report by U.S.-based A.M. Best Co. Inc. said that South Korean nonlife insurers' profitability is expected to improve due to rate hikes and reduced competition in long-term business, Asia Insurance Review reported. The ratings agency also said that the insurers are likely to remain profitable despite operating pressures and a tight regulatory environment.

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Rate hikes, less competition to drive insurers' profitability

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