Major Life Insurance Subsidiaries Under Tax Investigation Over Rebate Scandal
Recently, several corporate insurance agencies (GA) under the umbrella of major life insurance companies have come under scrutiny for offering illegal rebates during the sale of insurance policies. Recently, several corporate insurance agencies (GA) under the umbrella of major life insurance companies have come under scrutiny for offering illegal rebates during the sale of insurance policies. The National Tax Service (NTS) has initiated a tax investigation into 14 GA firms, some of which are subsidiaries of large life insurers like Hanwha, Shinhan, and MetLife. This situation raises concerns about the need for stricter oversight of GA operations to restore trust in the insurance industry. The Korean insurance industry is facing a significant issue as corporate insurance agencies (GA) are embroiled in a rebate scandal. According to the National Tax Service (NTS), 14 GA firms, including subsidiaries of major life insurance companies like Hanwha Life, Shinhan Life, and MetLife, are under ...