Hong Kong, Korea insurers “unprepared” for new environment

As insurance firms worldwide grapple with how new risk-based capital (RBC) rules are affecting their investment portfolios, some Asian markets – such as Hong Kong and Korea – are lagging in their preparations for the new environment, say industry observers. In the face of increased market volatility and falling profits, insurers globally are setting up frameworks to help them manage their corporate and investment risks on a longer-term basis. Such moves are driven in part by regul…