Overseas premiums collected by Korean insurers exceeds $762 million

The combined overseas premiums collected by four major South Korean non-life insurers, KB Insurance Co., Samsung Fire & Marine Insurance Co., Hyundai Marine & Fire Insurance Co., and DB Insurance Co., topped 1 trillion South Korean won ($762 million) in 2023, Pulse News Korea reported. Industry sources said that the amount has nearly doubled over the past four years from KRW526.3 billion in 2019. The Korean insurance industry is likely to become more aggressive in seeking breakthroughs in overseas business.