Hyundai Life and Heungkuk Fire’s RBC ratios lowest in industry

[THE INVESTOR] Hyundai Life Insurance and Heungkuk Fire & Marine Insurance have the lowest risk-based capital ratio among South Korean life and nonlife insurers, government data showed Aug. 24.

According to the Financial Supervisory Service, Hyundai Life’s RBC ratio came in at 179 percent at the end of June. Although the figure is 5.3 percentage points higher than that recorded at the end of March, it was the lowest among the 25 life insurance companies operating in Korea.

As for Heungkuk Fire and Marine, the RBC ratio came to 151.1 percent.

Under local regulations, insurance companies are required to maintain RBC ratios above 100 percent, and the FSS recommends a minimum ratio of 150 percent.

By Choi He-suk (cheesuk@heraldcorp.com)