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Insurance premium to grow 2% in 2023 amid inflation

Market conditions


South Korean insurance industry experts predict a 2.1% year-on-year growth in premium income in 2023 amid increasing fear of a looming recession, Asia Insurance Review reported citing The Korea Times. Kim Se-joong, a senior analyst at the Korea Insurance Research Institute, said that insurance sector's long-term growth rate and profitability could weaken if recession hits South Korea.


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