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South Korea Insurance Report Q3 2016

  • September 2016
  • -
  • Business Monitor International
  • -
  • 53 pages

Includes 3 FREE quarterly updates

BMI View: Both the life and the non-life segments of South Korea's sophisticated insurance sector shouldbenefit from the ageing of the population. In Q316, we have largely left our forecasts unchanged.

Key Updates And Forecasts

- South Korea is in many ways the archetypal North Asian insurance sector. Life insurance has long playeda central role in the economy and society as a conduit for organised savings. This is in a country wherethe savings rate has typically been high and the provision of social security by the state has been limited.Two factors set the insurance sector apart from others. One is the fact that long-term savings andprotection products are also a very important business for South Korea's non-life companies, whicheffectively operate as composites. The other is that many of the leading companies benefit from theirassociation with the Chaebol corporate groups which dominate South Korea's economy.

Table Of Contents

South Korea Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (South Korea 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (South Korea 2013-2020) 12
Table: Life Insurance Claims (South Korea 2008-2014) 13
Non-Life Premiums Forecast 14
Table: Non-Life Premiums (South Korea 2013-2020) 17
Table: Non-Life Insurance Claims (South Korea 2009-2014) 18
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums by Product Line (South Korea 2013-2020) 25
Industry Risk Reward Ratings 27
Asia Pacific Industry Risk/Reward Index 27
Table: Asia Pacific Insurance Risk/Reward Index Q316 28
Market Overview 29
Life Market Overview 29
The Product Offering 29
Competitive Landscape 30
Table: Company Performance: Life Insurance Market (USDmn) 2009-2014 32
Table: Company Performance: Life Insurance Market (%) 2007-2012 33
Non-Life Market Overview 34
The Product Offering 34
The Competitive Landscape 34
Table: Company Performance: Non-Life Insurance Market (USDmn) 36
Table: Company Performance: Non-Life Insurance Market (%) 37
Company Profile 38
Hanwha Life 38
Samsung Life 41
Samsung Fire and Marine 44
Methodology 47
Industry Forecast Methodology 47
Risk/Reward Index Methodology 50
Table: Indicators 52
Table: Weighting of Indicators 53

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