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Reinsurance in South Korea, Key Trends and Opportunities to 2020

Reinsurance in South Korea, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Reinsurance in South Korea Key Trends and Opportunities to 2020' report provides detailed analysis of the market trends, drivers and challenges in the South Korean reinsurance segment.

It provides values for key performance indicators such as written premium, reinsurance ceded and reinsurance accepted during the review period (2011–2015) and forecast period (2015–2020).

The report also analyses information pertaining to the competitive landscape in the country, gives a comprehensive overview of the South Korean economy and demographics, and provides detailed analysis of natural hazards and their impact on the South Korean insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise to enable reinsurers to identify segment dynamics and competitive advantages, and access profiles of reinsurers operating in the country.

Summary

Timetric’s 'Reinsurance in South Korea Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the South Korean reinsurance segment, including:

  • The outlook for the South Korean reinsurance segment
  • A comprehensive overview of the South Korean economy and demographics
  • Detailed analysis of natural hazards and their impact on the South Korean insurance industry
  • The competitive landscape in the South Korean reinsurance segment
Scope

This report provides a comprehensive analysis of the reinsurance segment in South Korea:
  • It provides historical values for the South Korean reinsurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the South Korean reinsurance segment, and market forecasts to 2020.
  • It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in South Korea, and the reinsurance segment's growth prospects.
  • It analyzes various natural hazards and their impact on the South Korean insurance industry.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the South Korean reinsurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the South Korean reinsurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the South Korean insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The reinsurance gross written premium in South Korea recorded a review-period CAGR of 5.7%.
  • Foreign reinsurers are permitted to establish branch offices and operate in South Korea after obtaining required licenses from the Financial Services Commission (FSC). In September 2016, for instance, the Singapore-based Asia Capital Re received a license from the FSC to open a branch office in South Korea.
  • In December 2014, the Financial Supervisory Service (FSS) issued the Reinsurance Best Practice Guidelines for foreign reinsurers operating in South Korea. According to the amendment, foreign reinsurers are prohibited from conducting face-to-face marketing meetings with directors or employees of domestic insurers in the country.
  • The segment is consolidated, with the five leading reinsurers – Korean Re, Munich Re, Swiss Re, Scor Re and RGA – together accounting for 98.1% of the segment’s total gross written premium in 2015.


  • Key Facts and Highlights
    • Table South Korean Reinsurance - Key Facts, 2015
    • Table South Korean Reinsurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table South Korean Government Credit Ratings
  • Reinsurance outlook
    • Reinsurance Segment Size, 2011-2020
      • Total reinsurance premium accepted
        • Table South Korean Reinsurance - Total Premium Accepted (KRW Trillion and US$ Billion), 2011-2015
        • Table South Korean Reinsurance - Total Premium Accepted (KRW Trillion and US$ Billion), 2015-2020
    • Reinsurance Segment Size by Premium Ceded, 2011-2020
      • Table South Korean Reinsurance - Premium Ceded by Type of Insurance (KRW Trillion), 2011-2015
      • Table South Korean Reinsurance - Premium Ceded by Type of Insurance (KRW Trillion), 2015-2020
      • Table South Korean Life Insurance - Percentage of Reinsurance Ceded (%), 2011-2015
      • Table South Korean Life Insurance - Percentage of Reinsurance Ceded (%), 2015-2020
      • Table South Korean Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2011-2015
      • Table South Korean Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2015-2020
      • Table South Korean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2011-2015
      • Table South Korean Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2015-2020
  • Natural Hazards
    • Table South Korean Average Annual Loss by Hazard, 1990-2014
    • Flooding
    • Cyclones and Storms
    • Earthquakes
    • Droughts
    • Exposure
  • Competitive Landscape
    • Table South Korean Reinsurance Segment - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Korean Reinsurance Company - company overview
        • Table Korean Reinsurance Company - Key Facts
        • Table Korean Reinsurance Company - Key Financials (KRW Billion), 2011-2015
      • Munich Reinsurance Company - company overview
        • Table Munich Reinsurance Company - Key Facts
        • Table Munich Reinsurance Company - Key Financials (KRW Billion), 2011-2015
      • Swiss Reinsurance Company Ltd - company overview
        • Table Swiss Reinsurance Company Ltd - Key Facts
        • Table Swiss Reinsurance Company Ltd - Key Financials (KRW Billion), 2011-2015
      • Scor Reinsurance Company - company overview
        • Table Scor Reinsurance Company - Key Facts
        • Table Scor Reinsurance Company - Key Financials (KRW Billion), 2011-2015
      • RGA Reinsurance Company - company overview
        • Table RGA Reinsurance Company - Key Facts
        • Table RGA Reinsurance Company - Key Financials (KRW Billion), 2011-2015
  • Definition and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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