Even if the government offers insurers a preferential deal on restructured debt, the whole industry has been knocked flat.
ECONOMIST: Russian insurance
2.
As part of the deal, these firms are given preferential treatment by the banks, including debt-for-equity swaps, lower interest rates, and access to a pool of some 2 trillion won in new loans and trade financing.
ECONOMIST: South Korean bankruptcy
3.
Such preferential treatment is only possible because current interest rates are so low and debt service represents only about 10% of total revenue.