The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Both the life and the non-life segments of South Korea's sophisticated insurance sector should
benefit 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 played
a central role in the economy and society as a conduit for organised savings. This is in a country where
the 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 and
protection products are also a very important business for South Korea's non-life companies, which
effectively operate as composites. The other is that many of the leading companies benefit from their
association with the Chaebol corporate groups which dominate South Korea's economy.