The risk-based capital ratios (actual solvency capital divided by the minimum solvency capital required) of domestic insurance companies as of end-December 2021 stood at 246.2%, down 8.3%p from 254.5% three months earlier. Compared to three months earlier, the RBC ratio for life insurance companies fell 7.4%p to 254.4%, and the ratio for nonlife insurers also declined 9.8%p to 231.4%.

Insurance companies’ preliminary net income for 2021 came in at KRW8.2667 trillion, up KRW2.1967 trillion or 36.2% from the same period a year earlier.

The risk-based capital ratios (actual solvency capital divided by the minimum solvency capital required) of domestic insurance companies as of end-September 2021 stood at 254.5%, down 6.4%p from 260.9% three months earlier.

Insurance companies’ preliminary net income for the year to September of 2021 came in at KRW7.6305 trillion, up KRW2.0731 trillion or 37.3% from the same period a year ago.

The risk-based capital ratios (actual solvency capital divided by the minimum solvency capital required) of domestic insurance companies as of end-June 2021 stood at 260.9%, up 5.0%p from 255.9% three months earlier.

Insurance companies’ preliminary net income for the first half of 2021 came in at KRW5.6770 trillion, up KRW1.8887 trillion or 49.9% from a year earlier.

The risk-based capital ratios (actual solvency capital divided by the minimum solvency capital required) of domestic insurance companies as of end-March 2021 stood at 256.0%, down 19.0%p from 275.0% three months earlier.

Insurance companies’ preliminary net income for the first three months of 2021 came in at KRW3.8720 trillion, up KRW2.4058 trillion or 164.1% from KRW1.4662 trillion a year earlier.

Three life insurance and seven nonlife insurance companies have operated total 35 overseas businesses in 11 countries as of year-end 2020. Most of the overseas businesses were concentrated on the nonlife insurance sector in Asia.

The risk-based capital ratios (actual solvency capital divided by the minimum solvency capital required) of domestic insurance companies as of end-December 2020 stood at 275.1%, down 8.8%p from 283.9% three months earlier.