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Dongbu Insurance Builds ERM System with SAS

The Korean non-life ensurer aims to strengthen its risk management capabilities in light of the demands of Solvency II and other regulation.

Seoul, Korea-based non-life insurer Dongbu Insurance has selected SAS for Enterprise Risk Management to build an enterprise-wide risk management system and help address regulatory compliance concerns, such as those related to Solvency II.

"Globalization of the financial markets and development of financial methods have emphasized global risk regulatory measures such as risk-based capital, Solvency II, stress testing and public risk disclosure requirements," comments Dae-Hee Hwang, director of risk management, Dongbu Insurance. "With this project, Dongbu Insurance will be able to achieve better investment results by optimizing its future investment strategy. [The company] will also obtain better risk-based evaluating and more business opportunities by utilizing the consolidated risk management system."

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio

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