Korea lifers set to increase hedging as accounting shake-up looms

Traditional-Korean-sundial — Time to hedge: rule changes may usher in new methods of risk transfer for Korean insurers

Chris Davis
Blake Evans-Pritchard
18 Feb 2021

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Dealers predict an increase in interest rate hedging by South Korean life insurers over the next couple of years as two key deadlines approach: the introduction of accounting standard IFRS 17 and the rollout of a new solvency capital framework. Both of these changes are due to take place at the start of 2023.

The revamp of accounting rules aims to address a mismatch in the way that Korean insurers calculate assets and liabilities. Currently, companies apply a larger discount to the value of

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