South Korea Insurance Report

Published 10 March 2015

  • 72 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
South Korea Insurance Report

Table of Contents

BMI Industry View
7
SWOT
9
Insurance
9
Political
11
Economic
12
Operational Risk
13
Industry Forecast
16
Total Premiums Forecast
16
Total Gross Premiums
16
Table: Total Gross Premiums Written (South Korea 2012-2019)
18
Claims And Assets
19
Table: Total Insurance Claims (South Korea 2007-2013)
19
Table: Total Insurance Assets (South Korea 2007-2014)
20
Life Premiums Forecast
21
Life Premiums
21
Table: Gross Life Premiums Written (South Korea 2012-2019)
22
Life Insurance Claims and Assets
23
Table: Life Insurance Claims (South Korea 2007-2013)
24
Table: Assets (South Korea 2007-2014)
24
Life Insurance Drivers
25
Table: Insurance Key Drivers, Private Health Expenditure (South Korea 2012-2019)
25
Table: Insurance Key Drivers, Disease Adjusted Life Years (South Korea 2012-2019)
26
Non-Life Premiums Forecast
27
Non-Life Premiums
28
Table: Gross Non-Life Premiums Written (South Korea 2012-2019)
28
Non-Life Claims
29
Table: Non-Life Insurance Claims (South Korea 2007-2013)
30
Table: Non-Life Insurance Claims by Line (South Korea 2007-2013)
30
Non-Life Assets
31
Table: Assets (South Korea 2007-2013)
31
Non-Life Sub-Sector Forecast
32
Table: Non-Life % Breakdown (South Korea 2012-2019)
32
Motor And Transport Insurance
33
Table: Motor Vehicle Insurance (South Korea 2012-2019)
34
Table: Insurance Key Drivers, Autos (South Korea 2012-2019)
34
Table: Transport Insurance (South Korea 2012-2019)
36
Property Insurance
36
Table: Property Insurance (South Korea 2012-2019)
37
Credit/ Financial Guarantee Insurance
37
Table: Credit/Financial Guarantee Insurance (South Korea 2012-2019)
38
Industry Risk Reward Ratings
39
Asia Pacific Industry Risk/Reward Index Q2 2015
39
Table: Asia Pacific Insurance Risk/Reward Index - Q2 2015
40
Market Overview
41
Life Market Overview
41
Table: Life Insurance Market Shares (USDmn), 2006-2012
43
Table: Life Insurance Market Shares (%), 2006-2012
44
Non-Market Overview
45
Table: Non-Life Insurance Market Shares (USDmn), 2011-2012
47
Table: Non-Life Insurance Market Shares (%), 2011-2012
49
Company Profile
50
Hanwha Life
50
Hyundai Marine & Fire Insurance
53
Samsung Fire & Marine
55
Samsung Life
58
Demographic Forecast
61
Table: Population Headline Indicators (South Korea 1990-2025)
62
Table: Key Population Ratios (South Korea 1990-2025)
62
Table: Urban/Rural Population & Life Expectancy (South Korea 1990-2025)
63
Table: Population By Age Group (South Korea 1990-2025)
63
Table: Population By Age Group % (South Korea 1990-2025)
64
Methodology
66
Industry Forecast Methodology
66
Risk/Reward Index Methodology
69
Table: Indicators
71
Table: Weighting of Indicators
72

The South Korea Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's South Korea Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Korean insurance industry.

Key Benefits

  • Benchmark BMI's independent insurance industry forecasts for South Korea to test other views - a key input for successful budgeting and strategic business planning in South Korea's insurance market.
  • Target business opportunities and risks in South Korea through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
  • Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2005-2014) and forecasts to end-2019 for key industry indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

  • Life/non-life Premiums: Total premium growth (USDmn), premium growth (% y-o-y), penetration (% of GDP), density (USD per capita) for Life and Non-Life sectors, claims reinsurance, and assets and liabilities.
  • Non-life subsectors: Data on gross written premiums for all major Non-Life segments (motor, transport, property, personal accident, health, general liability and credit financial).

BMI’s Insurance Risk Reward Index

BMI’s Risk Reward Indices provide investors (Life and Non-Life) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide an indices of highest to lowest appeal to investors, with each position explained.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Growth Drivers & Risk Management Projections

Key data and forecasts to end-2019 focusing on the growth drivers and downside risks to specific insurance lines including:

  • Population: Male/female, by age group, active/pensionable/youth population % of total, urban/rural population % of total.
  • Freight: Tonnage – air freight, rail freight, road freight, inland waterway.
  • Motor: Fleet size by type of vehicle % change y-o-y.
  • Epidemiology: Disease Adjusted Life Years and private health expenditure.

Market Overview & Rankings

Illustration of the insurance industry via rankings tables comparing gross written premiums by company (USDmn) and market share (%) for the top 20 players in both Life and Non-Life. This chapter also includes in-depth regional analysis of the market position, business strategies and investment potential of the leading insurance companies.

Sources

The insurance Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc