WASHINGTON, Jan. 24 -- Rep. Don Bacon, R-Neb., issued the following news release:

Congressman Don Bacon (NE-02) has signed on to co-sponsor two Pro-Life bills including House Resolutions 7 and 490, HR. 7 also known as the No Taxpayer.

Funding for Abortion and Abortion Insurance Full Disclosure Act of 2017 will consolidate patchwork policies that prohibit federal funding for abortions. H.R. 490, known as the Heartbeat.

Bill introduced by Rep. Steve King (IA-4) would require physicians to detect the heartbeat and prohibit the abortion of a baby with a beating heart.

The Hyde amendment, first enacted in 1976, is the protection of taxpayer dollars being used to fund most abortions and abortion coverage through government programs like Medicaid. Hyde has to be renewed annually in government spending bills and only covers funds appropriated through Labor, Health and Human Services Appropriation bills.

"A poll conducted this month shows that over 60% of Americans agree that the government should not fund abortion including 40% of those who identify as pro-choice" stated

Congressman Bacon. "Our nation should invest in women's health, not abortion because it is not healthcare. The government should not incentivize abortion through its funding policies."

The largest deviation from this policy was established in 2010, as part of the Affordable Care

Act (ACA) by allowing premium assistance credits to be directed to health insurance coverage that includes abortion. The ACA expressly allows funding for plans that include abortion and is in complete contradiction to the Hyde Amendment.

The Heartbeat Bill will make abortions illegal as soon as the fetus' heartbeat can be detected.

The bill will require all physicians to detect the heartbeat of an unborn child before conducting an abortion. Mothers cannot be prosecuted for having an abortion, however, physicians can be prosecuted for performing an abortion with the exception of saving the life of the mother due to physical harm, illness, or injury as a result of the pregnancy.

"I will work tirelessly to advance the rights of the unborn to ensure a culture of life throughout our great nation, These bills accomplish this while also protecting the health and physical well-being of women." concluded Congressman Bacon.

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HONG KONG--(BUSINESS WIRE)-- AM Best has maintained its stable outlook on South Korea’s non-life insurance segment, supported by enhanced regulatory frameworks and solid investment performance.

According to the Best’s Market Segment Report, “Market Segment Outlook: South Korea Non-Life Insurance,” the country’s regulatory environment supports the stable outlook as regulatory changes are strengthening capital quality, solvency resilience and consistency in IFRS 17 reporting. The introduction of the core capital K-ICS ratio, which is effective January 2027, is expected to induce insurers to focus on improving fundamental capital with higher loss absorption features and prevent overreliance on supplementary capital securities.

South Korea’s non-life industry experienced a decline in its underwriting results in 2025, reflecting higher loss ratios in long-term and auto lines. Auto insurance profitability also deteriorated due to the cumulative effect of premium rate cuts from prior years and ongoing claims-cost inflation. Although a recent premium increase should provide support, the benefit will be recognised gradually through the earned premium base rather than immediately. The long-term insurance line of business is still experiencing claims pressure following the end of the medical strike in 2024, while persistent competition also has weighed on profitability.

“Because of the intense competition, some market leaders with stronger balance sheet capacity and solvency positions are looking beyond the domestic market for new growth opportunities. These efforts could support earnings diversification and long-term growth, although they necessarily entail a level of execution risk and short-term capital volatility,” said Seokjae Lee, senior financial analyst, AM Best.

Chanyoung Lee, director, analytics, AM Best, added: “Although underwriting performance in South Korea’s non-life insurance segment weakened in 2025, investment income improved materially, supported by higher interest income, and in some cases, gains from asset disposals and valuation gains. AM Best expects investment performance to remain a stable source of profits over the next 12 months, partly mitigating the pressured underwriting profits.”

To access the full copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=366691.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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Seokjae Lee
Senior Financial Analyst
+852 2827 3407
[email protected]

Chanyoung Lee
Director, Analytics
+852 2827 3404
[email protected]

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
[email protected]

Cynthia Ang
Senior Industry Research Analyst
+65 6303 5026
[email protected]

Source: A.M. Best Rating Services, Inc.