Loss rate for auto insurance up through May (opens original article in a new tab)

Non-life insurers in South Korea reported an 84.7% average loss rate for auto insurance in the first five months of 2023, up 1.9 percentage points from the previous year.

• Non-life insurers' auto insurance loss rate increased to 84.7% in Jan-May 2023
• Loss rate rose 1.9 percentage points year-on-year
• May's loss rate decreased 0.3 percentage points from the same period last year