South Korea's casualty insurers see net losses grow

SEOUL - Combined net losses for South Korea's 16 casualty insurers increased during the April to September period this year, to won1.79trn, from won1.01trn the previous year. The country's Financial Supervisory Commission said direct insurance premiums for the companies fell 8.9% to won7.02trn. This fall was a result of an economic crisis which hit Korea at the end of 1997, the regulatory body said.