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Analysis North Korean insurance data suggests private car boom was years in the makingDPRK insurers report sharp increase in auto insurance premiums in 2024, as largest state firm solidifies dominance New data released by North Korea’s insurance companies suggests that authorities started laying the groundwork for more extensive private car ownership earlier than previously thought, with auto insurance revenue skyrocketing years before cars began to appear on Pyongyang roads. The DPRK boasts five insurance firms that publish business data on their official websites every year, providing a peek inside the economy not available elsewhere. They are the largest Korea National Insurance Company (KNIC) and four smaller companies — Polestar Insurance Company; marine insurer Samhae Insurance Company; reinsurer Future Re; and insurance broker Rainbow Intermediaries. Overall © Korea Risk Group. All rights reserved. |





