Insurers to submit liability valuation reports annually... interest rate risk assessment starting in 2028

South Korea’s Financial Services Commission approved amendments to insurance business supervisory regulations that will require insurers to submit annual actuarial assumption reports to the Financial Supervisory Service starting with fiscal 2026 settlements, timed to the business report deadline. The reports must disclose the basis, methods, major changes and verification results for actuarial assumptions used to calculate policy reserves and solvency capital requirements, plus cash-flow modeling and internal control details. The FSC will use the filings to compare assumption levels and trends across insurers and products and flag anomalies. The amendments also introduce a new interest-rate risk assessment metric, with that evaluation applying from 2028. The move matters because it tightens scrutiny of the assumptions underpinning insurers’ liability valuations and capital adequacy, and the next thing to watch is how insurers prepare disclosure and modeling controls ahead of the first 2026 reporting cycle.