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Insurance in South Korea

Insurance in South Korea

Summary

Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2013-17, and forecast to 2022). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.Essential resource for top-line data and analysis covering the South Korea insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Key Highlights

  • The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes.
  • The South Korean insurance market had total gross written premiums of $162.6bn in 2017, representing a compound annual growth rate (CAGR) of 3.2% between 2013 and 2017.
  • The life segment was the market's most lucrative in 2017, with total gross written premiums of $101.0bn, equivalent to 62.1% of the market's overall value.
  • Robust growth in 2014 and 2015 gave way to sharp deceleration. The decline in sales reflects the country's low birth-rate and rapidly aging population as well as changes in the life insurance product structure.
Scope
  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in South Korea
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in South Korea
  • Leading company profiles reveal details of key insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the South Korea insurance market with five year forecasts
Reasons to buy
  • What was the size of the South Korea insurance market by value in 2017?
  • What will be the size of the South Korea insurance market in 2022?
  • What factors are affecting the strength of competition in the South Korea insurance market?
  • How has the market performed over the last five years?
  • Who are the top competitiors in South Korea's insurance market?


Executive Summary
Market value
Market value forecast
Category segmentation
Geography segmentation
Market share
Market rivalry
Market Overview
Market definition
Market analysis
Market Data
Market value
Market Segmentation
Category segmentation
Geography segmentation
Market share
Market Outlook
Market value forecast
Five Forces Analysis
Summary
Buyer power
Supplier power
New entrants
Threat of substitutes
Degree of rivalry
Leading Companies
Dongbu Insurance Co., Ltd.
Hanwha Life Insurance Co Ltd
Hyundai Marine & Fire Insurance Co Ltd
Samsung Life Insurance Co Ltd
Macroeconomic Indicators
Country data
Methodology
Industry associations
Related MarketLine research
Appendix
About MarketLine
List of Tables
Table 1: South Korea insurance market value: $ billion, 2013-17
Table 2: South Korea insurance market category segmentation: $ billion, 2017
Table 3: South Korea insurance market geography segmentation: $ billion, 2017
Table 4: South Korea insurance market share: % share, by value, 2017
Table 5: South Korea insurance market value forecast: $ billion, 2017-22
Table 6: Dongbu Insurance Co., Ltd.: key facts
Table 7: Dongbu Insurance Co., Ltd.: key financials ($)
Table 8: Dongbu Insurance Co., Ltd.: key financials (KRW)
Table 9: Dongbu Insurance Co., Ltd.: key financial ratios
Table 10: Hanwha Life Insurance Co Ltd: key facts
Table 11: Hanwha Life Insurance Co Ltd: key financials ($)
Table 12: Hanwha Life Insurance Co Ltd: key financials (KRW)
Table 13: Hanwha Life Insurance Co Ltd: key financial ratios
Table 14: Hyundai Marine & Fire Insurance Co Ltd: key facts
Table 15: Hyundai Marine & Fire Insurance Co Ltd: key financials ($)
Table 16: Hyundai Marine & Fire Insurance Co Ltd: key financials (KRW)
Table 17: Hyundai Marine & Fire Insurance Co Ltd: key financial ratios
Table 18: Samsung Life Insurance Co Ltd: key facts
Table 19: Samsung Life Insurance Co Ltd: key financials ($)
Table 20: Samsung Life Insurance Co Ltd: key financials (KRW)
Table 21: Samsung Life Insurance Co Ltd: key financial ratios
Table 22: South Korea size of population (million), 2013-17
Table 23: South Korea gdp (constant 2005 prices, $ billion), 2013-17
Table 24: South Korea gdp (current prices, $ billion), 2013-17
Table 25: South Korea inflation, 2013-17
Table 26: South Korea consumer price index (absolute), 2013-17
Table 27: South Korea exchange rate, 2013-17
List of Figures
Figure 1: South Korea insurance market value: $ billion, 2013-17
Figure 2: South Korea insurance market category segmentation: % share, by value, 2017
Figure 3: South Korea insurance market geography segmentation: % share, by value, 2017
Figure 4: South Korea insurance market share: % share, by value, 2017
Figure 5: South Korea insurance market value forecast: $ billion, 2017-22
Figure 6: Forces driving competition in the insurance market in South Korea, 2017
Figure 7: Drivers of buyer power in the insurance market in South Korea, 2017
Figure 8: Drivers of supplier power in the insurance market in South Korea, 2017
Figure 9: Factors influencing the likelihood of new entrants in the insurance market in South Korea, 2017
Figure 10: Factors influencing the threat of substitutes in the insurance market in South Korea, 2017
Figure 11: Drivers of degree of rivalry in the insurance market in South Korea, 2017
Figure 12: Dongbu Insurance Co., Ltd.: revenues & profitability
Figure 13: Dongbu Insurance Co., Ltd.: assets & liabilities
Figure 14: Hanwha Life Insurance Co Ltd: revenues & profitability
Figure 15: Hanwha Life Insurance Co Ltd: assets & liabilities
Figure 16: Hyundai Marine & Fire Insurance Co Ltd: revenues & profitability
Figure 17: Hyundai Marine & Fire Insurance Co Ltd: assets & liabilities
Figure 18: Samsung Life Insurance Co Ltd: revenues & profitability
Figure 19: Samsung Life Insurance Co Ltd: assets & liabilities

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