South Korea's Financial Supervisory Service has published preliminary 2025 results for domestic insurers' overseas businesses, showing net income of USD197.0 million, up from USD159.1 million in 2024. Four life insurers and eight nonlife insurers operated 46 overseas businesses in 11 countries at year-end 2025. The overall increase was driven by life insurers, whose overseas net income rose USD45.3 million to USD109.3 million because of newly consolidated businesses, while nonlife insurers' overseas net income fell USD7.4 million to USD87.7 million after natural catastrophes in Myanmar and Thailand. The overseas network comprised 35 subsidiaries and 11 local branches, with 28 operations in Asia and 14 in the United States. Excluding newly added companies and a divested company, life insurers' overseas net income fell USD13.5 million from a year earlier. By sector, insurance operations earned USD128.6 million, down USD22.1 million, while financial investment income rose to USD34.2 million after Hanwha Life acquired Velocity Clearing in the United States and banking income reached USD29.3 million following its acquisition of Bank National Nobu in Indonesia. Aggregate assets rose 121.2% to USD16.24 billion at end-December 2025, liabilities increased 202.7% to USD12.02 billion mainly because borrowings and deposits of newly consolidated companies were recognized, and shareholders' equity rose 25.2% to USD4.22 billion. The figures are preliminary and based on data from 43 of the 46 operations, excluding three branch management entities. The Financial Supervisory Service said it will closely monitor the financial stability of insurers' overseas businesses and urge firms to focus on risk management as global market volatility, Middle East tensions and climate-related catastrophe risks add uncertainty.

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