Korean insurers adjust allocations to new accounting rules

This year has seen the implementation of long-awaited regulatory changes in the finance sector – perhaps even more so in South Korea than elsewhere.  Both the International Financial Reporting Standards 17 (IFRS 17) and the Korean Insurance Capital Standard (K-ICS) and came into effect on January 1, and the changes they have ushered in have influenced insurers’ investment preferences. Andrew Shin, WTW The changes had originally been planned to be implemented from the beg…