Regulator to ease capital rules for insurers ahead of global accounting change
May 30, 2017
South Korea's financial regulator said Tuesday it will relax some capital rules and other technical standards for insurance firms to help them better cope with changes in global accounting rules. South Korea is one of more than 100 nations that will adopt the new global bookkeeping standard or the International Financial Reporting Standards 17, starting in January 2021. When adopted, some insurers in South Korea will face capitalization pressure, analysts said. To help insurers alleviate p