[Anchor]
MG Insurance, designated a failing financial institution, is expected to close soon.
Although it is a small insurance company, it has over 1.2 million policyholders.
Reporter Song Su-jin investigated whether these policyholders might suffer losses.
[Report]
Looking at the financial status of MG Insurance, liquidation seems inevitable.
The solvency ratio is 4.1%.
If the total insurance claims from all policyholders amount to 100, it means the company's available funds are only 4.1, indicating a level that makes survival difficult.
The problem lies with the approximately 1.24 million policyholders.
Most are individual policyholders with health or auto insurance.
While there is deposit protection, it only guarantees up to 50 million won based on the surrender value.
The company's attempt to sell, after being designated as a failing financial institution in 2022, ultimately failed in March.
[Min Kyung-moon/Representative of MG Insurance Policyholders Group: "Those with surrender values are protected by deposit insurance. But for people like me, the surrender value is currently 0 won. I have even staged a one-person protest..."]
Financial authorities have decided on a liquidation policy.
They are attempting a 'bridge insurance company' model for the first time.
A temporary company established by the Korea Deposit Insurance Corporation will take over all MG Insurance contracts and maintain them until they can be transferred to one or more insurance companies.
[Kim Byeong-hwan/Chairman of the Financial Services Commission/May 7: "We are reviewing this. Establishing a bridge insurance company is one of the options."]
Even if it takes time to find a buyer, policyholder losses may be avoided.
But the employment of over 600 MG Insurance employees is a different issue.
The bridge insurance company is likely to only retain the minimum staff needed to manage the contracts.
The Financial Services Commission is scheduled to vote on the establishment of the bridge insurance company the day after tomorrow (May 14), but the MG Insurance labor union plans to hold a protest tomorrow (May 13).
This is KBS News, Song Su-jin.
MG Insurance, designated a failing financial institution, is expected to close soon.
Although it is a small insurance company, it has over 1.2 million policyholders.
Reporter Song Su-jin investigated whether these policyholders might suffer losses.
[Report]
Looking at the financial status of MG Insurance, liquidation seems inevitable.
The solvency ratio is 4.1%.
If the total insurance claims from all policyholders amount to 100, it means the company's available funds are only 4.1, indicating a level that makes survival difficult.
The problem lies with the approximately 1.24 million policyholders.
Most are individual policyholders with health or auto insurance.
While there is deposit protection, it only guarantees up to 50 million won based on the surrender value.
The company's attempt to sell, after being designated as a failing financial institution in 2022, ultimately failed in March.
[Min Kyung-moon/Representative of MG Insurance Policyholders Group: "Those with surrender values are protected by deposit insurance. But for people like me, the surrender value is currently 0 won. I have even staged a one-person protest..."]
Financial authorities have decided on a liquidation policy.
They are attempting a 'bridge insurance company' model for the first time.
A temporary company established by the Korea Deposit Insurance Corporation will take over all MG Insurance contracts and maintain them until they can be transferred to one or more insurance companies.
[Kim Byeong-hwan/Chairman of the Financial Services Commission/May 7: "We are reviewing this. Establishing a bridge insurance company is one of the options."]
Even if it takes time to find a buyer, policyholder losses may be avoided.
But the employment of over 600 MG Insurance employees is a different issue.
The bridge insurance company is likely to only retain the minimum staff needed to manage the contracts.
The Financial Services Commission is scheduled to vote on the establishment of the bridge insurance company the day after tomorrow (May 14), but the MG Insurance labor union plans to hold a protest tomorrow (May 13).
This is KBS News, Song Su-jin.
■ 제보하기
▷ 카카오톡 : 'KBS제보' 검색, 채널 추가
▷ 전화 : 02-781-1234, 4444
▷ 이메일 : kbs1234@kbs.co.kr
▷ 유튜브, 네이버, 카카오에서도 KBS뉴스를 구독해주세요!
- Bridge insurer for MG Insurance
-
- 입력 2025-05-13 01:24:59
[Anchor]
MG Insurance, designated a failing financial institution, is expected to close soon.
Although it is a small insurance company, it has over 1.2 million policyholders.
Reporter Song Su-jin investigated whether these policyholders might suffer losses.
[Report]
Looking at the financial status of MG Insurance, liquidation seems inevitable.
The solvency ratio is 4.1%.
If the total insurance claims from all policyholders amount to 100, it means the company's available funds are only 4.1, indicating a level that makes survival difficult.
The problem lies with the approximately 1.24 million policyholders.
Most are individual policyholders with health or auto insurance.
While there is deposit protection, it only guarantees up to 50 million won based on the surrender value.
The company's attempt to sell, after being designated as a failing financial institution in 2022, ultimately failed in March.
[Min Kyung-moon/Representative of MG Insurance Policyholders Group: "Those with surrender values are protected by deposit insurance. But for people like me, the surrender value is currently 0 won. I have even staged a one-person protest..."]
Financial authorities have decided on a liquidation policy.
They are attempting a 'bridge insurance company' model for the first time.
A temporary company established by the Korea Deposit Insurance Corporation will take over all MG Insurance contracts and maintain them until they can be transferred to one or more insurance companies.
[Kim Byeong-hwan/Chairman of the Financial Services Commission/May 7: "We are reviewing this. Establishing a bridge insurance company is one of the options."]
Even if it takes time to find a buyer, policyholder losses may be avoided.
But the employment of over 600 MG Insurance employees is a different issue.
The bridge insurance company is likely to only retain the minimum staff needed to manage the contracts.
The Financial Services Commission is scheduled to vote on the establishment of the bridge insurance company the day after tomorrow (May 14), but the MG Insurance labor union plans to hold a protest tomorrow (May 13).
This is KBS News, Song Su-jin.
MG Insurance, designated a failing financial institution, is expected to close soon.
Although it is a small insurance company, it has over 1.2 million policyholders.
Reporter Song Su-jin investigated whether these policyholders might suffer losses.
[Report]
Looking at the financial status of MG Insurance, liquidation seems inevitable.
The solvency ratio is 4.1%.
If the total insurance claims from all policyholders amount to 100, it means the company's available funds are only 4.1, indicating a level that makes survival difficult.
The problem lies with the approximately 1.24 million policyholders.
Most are individual policyholders with health or auto insurance.
While there is deposit protection, it only guarantees up to 50 million won based on the surrender value.
The company's attempt to sell, after being designated as a failing financial institution in 2022, ultimately failed in March.
[Min Kyung-moon/Representative of MG Insurance Policyholders Group: "Those with surrender values are protected by deposit insurance. But for people like me, the surrender value is currently 0 won. I have even staged a one-person protest..."]
Financial authorities have decided on a liquidation policy.
They are attempting a 'bridge insurance company' model for the first time.
A temporary company established by the Korea Deposit Insurance Corporation will take over all MG Insurance contracts and maintain them until they can be transferred to one or more insurance companies.
[Kim Byeong-hwan/Chairman of the Financial Services Commission/May 7: "We are reviewing this. Establishing a bridge insurance company is one of the options."]
Even if it takes time to find a buyer, policyholder losses may be avoided.
But the employment of over 600 MG Insurance employees is a different issue.
The bridge insurance company is likely to only retain the minimum staff needed to manage the contracts.
The Financial Services Commission is scheduled to vote on the establishment of the bridge insurance company the day after tomorrow (May 14), but the MG Insurance labor union plans to hold a protest tomorrow (May 13).
This is KBS News, Song Su-jin.
이 기사가 좋으셨다면
-
좋아요
0
-
응원해요
0
-
후속 원해요
0
오늘의 핫 클릭
실시간 뜨거운 관심을 받고 있는 뉴스
헤드라인
이 기사에 대한 의견을 남겨주세요.