Rate hikes, less competition to drive insurers' profitability
Posted On: Nov. 8, 2018 5:02 AM CSTA 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.