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China-South Korea spat might affect nonlife insurers: Report


A report by the Korea Insurance Research Institute has found that South Korean nonlife insurers' Chinese business may suffer indirect damage if China's pressure on South Korean companies operating there spills over to manufacturers, Asia Insurance Review reports citing The Korea Times. The report said that if manufacturers are affected by China's retaliation over South Korea's decision to deploy a U.S. Terminal High Altitude Area Defense battery, South Korean nonlife insurers operating in China may face substantial losses.

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