The net profits of South Korea’s non-life insurers have dropped by almost 28% year-on-year for the third quarter, as loss ratios spiked.
Nine non-life insurance companies reported a combined profit of KRW502.1 billion won (US$431 million) from July to September 2019, down 27.8% from the same period last year, according to a report by The Investor, which cited data from the Financial Supervisory Service.
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