Business · Markets · 4 hrs ago
Savings insurance sales at South Korea’s five biggest banks topped 3 trillion won
Sales topped 3 trillion won at South Korea’s five biggest banks last month.
They have exceeded 2 trillion won a month for four straight months, after falling below 1 trillion won in May.
Bancassurance means insurance products sold through banks, and the products drawing interest are mainly savings insurance policies.
These policies return premiums with interest, and insurers have offered some with 4% to 5% returns as market rates rose.
The shift away from riskier investments is also clear in bank ETF sales, which fell more than 90% from the second quarter to the third.
Meanwhile, sales of principal-protected deposits rose, and five banks’ fixed-term deposits grew by 24.4 trillion won last month, reflecting stronger demand for safer options.
South Korea’s five largest commercial banks sold 3.1362 trillion won in bancassurance products last month.
Sales rose 5% from the previous month and exceeded 2 trillion won for the fourth consecutive month.
The article attributes the increase to weaker stock markets, rising interest rates and demand for savings insurance.
Sales had fallen to 945 billion won in May before rising to 3.3771 trillion won in August.
At four major banks, ETF trust sales fell by more than 90% from the second quarter to the third quarter.
- Who
- South Korea’s five largest commercial banks: KB Kookmin, Shinhan, Hana, Woori and NH NongHyup.
- What
- They sold 3.1362 trillion won in bancassurance products last month, including savings insurance.
- When
- Last month, according to an article published on November 5, 2026.
- Where
- At the five banks in South Korea.
- Why
- The article cites a stock-market correction, rising interest rates and increased preference for stable returns.
This story does not have two clearly opposing sides.
Monthly bancassurance sales fell to 945 billion won.
Sales rebounded to 2.1167 trillion won, beginning four consecutive months above 2 trillion won.
Sales climbed to 3.3771 trillion won.
Sales totalled 2.9876 trillion won.
Sales reached 3.1362 trillion won, up 5% from the previous month.
- October sales
- 3.1362 trillion won
- Change from previous month
- Up 5%, or 148.6 billion won
- Third-quarter sales
- 8.4814 trillion won
- August sales
- 3.3771 trillion won
- ETF trust sales at four banks
- 2.9844 trillion won in the third quarter, down from 32.0834 trillion won in the second quarter