insurance firms-capital adequacy
Insurers' capital adequacy ratio up in Q3
SEOUL, Jan. 6 (Yonhap) -- The capital adequacy ratio of insurance companies in South Korea increased in the third quarter of last year from the previous quarter, data showed Tuesday.
The average capital adequacy ratio of domestic insurance firms came to 210.8 percent as of end-September, up from 206.8 percent three months earlier, according to the data from the Financial Supervisory Service.
The ratio refers to the amount of available capital compared with required funds under the Korean Insurance Capital Standard (K-ICS).
The rise in the July-September period was attributed to a rise in both available capital following increased earnings and required capital.
Available capital under K-ICS rose 14.1 trillion won (US$9.74 billion) on-quarter in the third quarter, while required capital increased 4.3 trillion won over the cited period, according to the financial watchdog.
The average capital adequacy ratio of life insurers stood at 201.4 percent as of end-September, up 0.5 percentage point from three months earlier, while that of nonlife insurance companies rose 9.5 percentage points to 224.1 percent over the cited period.
(END)
(C) Yonhap News Agency. All Rights Reserved
