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South Korea Savings Insurance Sales Surges With Pension Products, Up 400B Won Through April

2026-07-17 00:16:15

According to the Korea Life Insurance Association, savings-type insurance new contracts through April 2026 reached 245,854 cases and 141.923 trillion won, up 1,000 cases and 400 billion won year-over-year. The increase comes as the KOSPI index hit 9,000 points, boosting sales of variable annuity insurance. Pension fund assets held by domestic life insurers expanded to 74.613 trillion won in Q1 2026 from 74.231 trillion won at year-end 2025. Data from Toss Insurance showed pension insurance new contracts surged 78.1% year-over-year in the first half, with variable annuity products ranking in the top 10 bestsellers. The Bank of Korea raised its base rate on July 16 for the first time in 3.5 years, supporting the shift toward long-term savings vehicles.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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