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S. Korean insurers' capital adequacy ratio rises in Q2

SEOUL
2023-10-10 11:40

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SEOUL, Oct. 10 (Xinhua) -- South Korean insurers' capital adequacy ratio rose in the second quarter due to a faster increase in available capital than required capital, financial watchdog data showed Tuesday.

The capital adequacy ratio for domestic insurance companies under the Korean-Insurance Capital Standard, or the ratio of available capital to required capital, came in at 223.6 percent at the end of June, up 4.7 percentage points from three months earlier, according to the Financial Supervisory Service.

The available capital grew 12.6 trillion won (9.3 billion U.S. dollars) to 259.5 trillion won (192.5 billion dollars) during the April-June quarter, while the required capital expanded 3.3 trillion won (2.4 billion dollars) to 116.1 trillion won (86.1 billion dollars).

The capital adequacy ratio for life insurance companies gained 4.9 percentage points to 224.3 percent in the cited quarter, while the ratio for non-life insurers increased 4.4 percentage points to 222.7 percent.
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