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South Korea urged to consider insurance-linked securities (ILS) regulatory framework

The government of Korea has been urged to implement and adopt an insurance-linked securities (ILS) regulatory framework to enhance its domestic insurance marketplace and enable access to the capital markets for additional risk capital and reinsurance.

Researchers from the Korea Insurance Research Institute (KIRI) have spotted the success countries including Singapore and Hong Kong have had, in establishing an ILS regulatory regime, starting to see catastrophe bonds transacted using it, and developing the skills and service provision required to build local ILS expertise.

It’s believed that having a domestic market ILS capability can help to make the Korean insurance and reinsurance industry more competitive, while improving its capacity and capital availability.


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