Yonhap News4/22/2026BusinessSouth Korea
S.Korea Non-Life Insurers' Auto Insurance Loss Rate Rises to 85.9% in Q1
Loss rate up 3.4 percentage points year-on-year due to increased traffic and repair costs
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- South Korea's four major non-life insurers reported an 85.9 percent loss rate for auto insurance in Q1 2026, up 3.4 percentage points from a year earlier.
- The increase was driven by rising vehicle traffic leading to more accidents and higher repair and auto part costs.
- The loss rate measures the proportion of premiums paid out as claims, with higher rates indicating greater risk of insurers operating at a loss.
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South Korea's four major non-life insurers reported an 85.9 percent loss rate for auto insurance in Q1 2026, up 3.4 percentage points from a year earlier. The increase was driven by rising vehicle traffic leading to more accidents and higher repair and auto part costs. The loss rate measures the proportion of premiums paid out as claims, with higher rates indicating greater risk of insurers operating at a loss.
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This article was originally published by Yonhap News.
