Alphabiz - Financial Supervisory Service to Conduct Special Inspection on Lotte Insurance

Lotte Insurance CI. (Photo: Lotte Insurance)

[Alpha Biz= Kim Sangjin] The Financial Supervisory Service (FSS) will conduct a special inspection of Lotte Insurance for one month until early next month. This inspection follows up on the regular inspection conducted at the end of last year.


According to financial authorities and the insurance industry on Wednesday, the FSS began the special inspection of Lotte Insurance from today. The inspection will last for 20 business days and continue until early next month. The FSS will dispatch an on-site inspector to review the management evaluation and inspection points from the regular inspection conducted at the end of June last year.


The industry views the fact that another special inspection is taking place just a short time after the regular inspection as unusual. The FSS conducted a regular inspection of Lotte Insurance from November 18 to December 18 last year.


Facing stricter regulations from financial authorities and risks from interest rate cuts, insurance companies are hastily issuing capital securities.

Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)