Regulators are thinking of allowing less well-capitalised firms into South Korea's insurance market.

South Korea's Financial Services Commission is thinking of allowing less well-capitalised firms into the country's insurance market. Life and liability insurers are expected to be among the consequent applicants for new business. Details are expected in March.

The regulator's website is silent on the subject; the only predictions have come from the national press. The Korea Herald reports that the insurance market is so 'saturated' that the area of general insurance has not seen any new entrants for 10 years. Travel insurance is on the rise, however.