South Korea Insurance Report Q3 2016

Publisher Name :
Date: 03-Sep-2016
No. of pages: 53

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.

South Korea Insurance Report Q3 2016

Table of Contents

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 & Marine 44
Methodology 47
Industry Forecast Methodology 47
Risk/Reward Index Methodology 50
Table: Indicators 52
Table: Weighting of Indicators 53

List of Tables

Table: Headline Insurance Forecasts (South Korea 2013-2020)
Table: Life Premiums (South Korea 2013-2020)
Table: Life Insurance Claims (South Korea 2008-2014)
Table: Non-Life Premiums (South Korea 2013-2020)
Table: Non-Life Insurance Claims (South Korea 2009-2014)
Table: Non-Life Insurance Premiums by Product Line (South Korea 2013-2020)
Table: Asia Pacific Insurance Risk/Reward Index Q316
Table: Company Performance: Life Insurance Market (USDmn) 2009-2014
Table: Company Performance: Life Insurance Market (%) 2007-2012
Table: Company Performance: Non-Life Insurance Market (USDmn)
Table: Company Performance: Non-Life Insurance Market (%)
Table: Indicators
Table: Weighting of Indicators
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