Centro de Documentacion de Fundación MAPFRE - South Korea insurers prepare to face new accounting and solvency rules

MAP20190025492

South Korea insurers prepare to face new accounting and solvency rules. — Oldwick : A.M. Best Company, Inc., 2019

(Best's special report)

Sumario: South Korean non-life unsurers are beter positioned than their counterparts to weather the impact of adopting the International Financial Reporting Standards 17 (IFRS 17) accounting standard and K-Insurance Capital Standard (K-ICS) solvency regime by 2022. The simultaneous implementation of the two frameworks is likely to take a heavy operational toll on the market, while insurers also face a pressing need to revamp business strategies -companies will need to restructure product mixes and investment portfolios, as well as raise capital under the new accounting and solvency regimes

1. Mercado de seguros . 2. Solvencia . 3. IFRS 17 . 4. Corea del Sur . I. A.M. Best Company . II. Best's special report .