{"id":127692,"date":"2026-08-21T10:35:11","date_gmt":"2026-08-21T10:35:11","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/127692\/"},"modified":"2026-08-21T10:35:11","modified_gmt":"2026-08-21T10:35:11","slug":"how-north-koreas-state-insurer-won-big-in-london-but-walked-away-empty-handed","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/127692\/","title":{"rendered":"How North Korea\u2019s state insurer won big in London but walked away empty-handed"},"content":{"rendered":"<p>\t\tHow North Korea\u2019s state insurer won big in London but walked away empty-handed\t<\/p>\n<p>Court records show KNIC was awarded over 500K euros but was left with nothing after Russian courts overturned ruling <\/p>\n<p class=\"author-date\">\n\t\t<a href=\"https:\/\/www.nknews.org\/pro\/content_author\/anton-sokolin\" rel=\"nofollow noopener\" target=\"_blank\">Anton Sokolin<\/a><br \/>\n\t\t\tAugust 21, 2026\n\t<\/p>\n<p>\t\t<img width=\"935\" height=\"500\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"img-fluid w-100 wp-post-image\" alt=\"How North Korea\u2019s state insurer won big in London but walked away empty-handed\" decoding=\"async\" fetchpriority=\"high\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/korea\/wp-content\/uploads\/2026\/08\/1-935x500.jpg\"\/>\t<\/p>\n<p>AI-generated illustration of Russian and North Korean officials in front of the Elizabeth Tower in London | Image: NK Pro<\/p>\n<p>North Korea\u2019s state insurer won a yearslong legal battle against a Russian firm in London in a previously unreported case, official documents show, only for Russian courts to overrule the verdict, leaving the DPRK unable to collect on over half a million euros.<\/p>\n<p>The DPRK\u2019s largest insurer Korea National Insurance Corporation (KNIC) accused the Moscow Insurance Company of refusing to pay on reinsurance contracts signed between 2005 and 2007, with a London arbitration panel ruling in favor of KNIC 12 times for a total of at least 538,860 euros in 2015-2016.<\/p>\n<p>Reinsurance is the practice of insuring<\/p>\n<p>\u00a9 Korea Risk Group. All rights reserved.<br \/>No part of this content may be reproduced, distributed, or used for<br \/>\n\t\t\tcommercial purposes without prior written permission from Korea Risk<br \/>\n\t\t\tGroup.\n\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"How North Korea\u2019s state insurer won big in London but walked away empty-handed Court records show KNIC was&hellip;\n","protected":false},"author":2,"featured_media":127693,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[78,41462,119,4122,31,34,5912],"class_list":["post-127692","post","type-post","status-publish","format-standard","has-post-thumbnail","category-north-korea","tag-business","tag-companies","tag-economy","tag-foreign-relations","tag-korea","tag-north-korea","tag-sanctions"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/127692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=127692"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/127692\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/127693"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=127692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=127692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=127692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}