Middle East tensions weigh on Korean Re profits
Posted On: Jan. 13, 2020 6:26 AM CSTInsurance industry officials have said that the profitability of South Korea-based Korean Reinsurance Co. and marine insurers would fall if there are any incidents involving vessels sailing through the Strait of Hormuz, The Korea Times reported. Although Korean Re and the country's marine insurers have yet to raise their pricing, industry officials expect they will consider rate hikes after foreign insurers raised rates.