Slump in life insurance sector points to unreported COVID deaths in North Korea
Financial data from DPRK’s largest insurer reveals almost 20% decline in premium income in life insurance division
Korea National Insurance Corporation (KNIC) recently became the last of North Korea’s five insurers to release financial data for 2022, doing so when it launched a redesigned website last month.
And while the country’s largest insurer only registered a relatively minor 3.3% decrease in overall profits, this concealed a much larger slump in the life insurance business that betrays a sobering reality — that far more people died in the country’s COVID-19 outbreak that year than the government has let on.
According to KNIC’s official data, premium income in the life insurance sector dropped
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