Korean insurers face stricter rules on foreign real estate
New guidelines on alternative investments for Korean securities firms are expected to be extended to insurance firms following the rapid growth of allocations to such assets.
South Korean insurance firms look set to find it harder to buy foreign real estate – already a tough task thanks to Covid-19 – as their local regulator moves to tighten rules around investment into illiquid assets after their sharp rise in inflows in recent years.
Korea’s Financial Supervisory Service (FSS) in June reportedly announced that domestic securities firms must strengthen their investment screening process, particularly for overseas real estate, including by doing mandat…
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