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The financial health of South Korean insurance companies improved in the third quarter from three months earlier on higher returns from bond investments on the back of lower interest rates, the financial watchdog said Thursday.
The risk-based capital ratio of 56 life and non-life insurers averaged 284.8 percent at the end of September, up 6.6 percentage points from the previous quarter, according to the Financial Supervisory Service.
The latest figure marked a sharp rebound from a 23.9 percentage point drop in the previous quarter, the FSS added.
Life insurers posted an RBC ratio of 297.1 percent on average, with that of nonlife institutions standing at 259.8 percent.
The RBC ratio, a key gauge of financial stability, measures an insurer's ability to absorb losses and pay insurance to policyholders. Local insurers are required to maintain an RBC ratio of 100 percent or above.
Higher returns from their bond investments helped level up the RBC ratio of the insurance companies.
During the third quarter, the yield on benchmark five-year Treasury bonds fell 0.32 percentage point to 1.75 percent during the July-September period, according to the watchdog. (Yonhap)
The risk-based capital ratio of 56 life and non-life insurers averaged 284.8 percent at the end of September, up 6.6 percentage points from the previous quarter, according to the Financial Supervisory Service.
The latest figure marked a sharp rebound from a 23.9 percentage point drop in the previous quarter, the FSS added.
Life insurers posted an RBC ratio of 297.1 percent on average, with that of nonlife institutions standing at 259.8 percent.
The RBC ratio, a key gauge of financial stability, measures an insurer's ability to absorb losses and pay insurance to policyholders. Local insurers are required to maintain an RBC ratio of 100 percent or above.
Higher returns from their bond investments helped level up the RBC ratio of the insurance companies.
During the third quarter, the yield on benchmark five-year Treasury bonds fell 0.32 percentage point to 1.75 percent during the July-September period, according to the watchdog. (Yonhap)
