The RBC ratio of life and non-life insurance companies stood at 286.9 percent as of the end of September, up 4.5 percentage points from three months earlier, according to the Financial Supervisory Service (FSS).
The ratio refers to capital reserves divided by the minimum solvency capital requirement. The FSS requires insurers to maintain the ratio above 100 percent.
The higher RBC ratio came as lower bond yield increased the market value of bonds, owned by insurers. The central bank lowered its benchmark interest rate from 1.75 percent to 1.50 percent in July, before cutting it to a record low of 1.25 percent in October.
The RBC ratio for life insurers climbed 5.1 percentage points from three months earlier to 301.2 percent as of end-September. The figure topped 300 percent for the first time in three years since September 2016.
The ratio for non-life insurers gained 3.1 percentage points to 260.0 percent in the same period.
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