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Life Insurance in South Korea, Key Trends and Opportunities to 2019

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Date: 21-Oct-2015
No. of pages: 176
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Synopsis

Timetric's 'Life Insurance in South Korea, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the South Korean life insurance segment.

It provides key performance indicators such as written premium, incurred loss, commissions and expenses, total assets, total investment income and retentions during the review period (2010-2014) and forecast period (2014-2019). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of South Korea's economy and demographics, and provides detailed information on the country's competitive landscape.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

Summary

Timetric's 'Life Insurance in South Korea, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the South Korean life insurance segment, including:

• The South Korean life insurance segment's growth prospects by life insurance category

• Key trends, drivers and challenges for the life insurance segment

• A comprehensive overview of South Korea's economy and demographics

• The various distribution channels in the South Korean life insurance segment

• Details of the competitive landscape in the life insurance segment in South Korea

• Details of regulatory policy applicable to the South Korean insurance industry

Scope

This report provides a comprehensive analysis of the life insurance segment in South Korea:

• It provides historical values for the South Korean life insurance segment for the report's 2010-2014 review period, and projected figures for the 2014-2019 forecast period.

• It offers a detailed analysis of the key categories in the South Korean life insurance segment, and market forecasts to 2019.

• It analyzes the various distribution channels for life insurance products in South Korea.

• It profiles the top life insurance companies in South Korea, and outlines key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the South Korean life insurance segment and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the South Korean life insurance segment.

• Assess the competitive dynamics in the life insurance 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

• South Korea is one of the world's most developed economies, with the world's 13th-largest economy in terms of GDP.

• According to Timetric, South Korea's life insurance segment was the third-largest in Asia after Japan and China in 2013, in terms of gross written premium.

•The life segment is highly consolidated, with the 10 leading companies accounting for 81.5% of the segment's gross written premium in 2014.

• Over the forecast period, bancassurance is expected to continue to drive the growth of the South Korean insurance industry, as a large proportion of the country's population gains access to formal banking services due to technological developments in financial services.

• As the life segment moves towards saturation, factors such as decreasing domestic demand, the establishment of distribution networks and brand loyalty will present challenges to life insurers.

• Due to the mature nature of the life insurance segment, life insurers primarily focused on technical collaborations to gain competitive advantages. The leading life insurer Samsung Life Insurance has entered into a strategic alliance with New York Life Investment Management LLC (NYLIM), a US-based investment manager, to expand its asset management skills.

Life Insurance in South Korea, Key Trends and Opportunities to 2019

Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 Economy and Demographics
5 Life Insurance Outlook
5.1 Key Drivers
5.2 Key Trends
5.3 Challenges
5.4 Life Insurance Growth Prospects by Category
5.5 Individual Life Insurance
5.5.1 Individual whole life insurance
5.5.2 Individual general annuity insurance
5.5.3 Individual pension insurance
5.5.4 Individual endowment insurance
5.5.5 Other individual life insurance
5.6 Group Life Insurance
5.6.1 Group whole life insurance
5.6.2 Group superannuation insurance
5.7 Life Insurance Growth Prospects by Product Type
5.7.1 Individual single-premium insurance
5.7.2 Individual non-single-premium insurance
5.7.3 Group single-premium insurance
5.7.4 Group non-single-premium insurance
5.7.5 Total linked insurance business
5.7.6 Total non-linked insurance business
6 Analysis by Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 Brokers
6.5 Other Channels
7 Competitive Landscape and Strategic Insights
7.1 Overview
7.2 Leading Companies in the South Korean Life Insurance Segment
7.2.1 Samsung Life Insurance Co., Ltd - Company Overview
7.2.2 Hanwha Life Insurance Co. Ltd - Company Overview
7.2.3 Kyobo Life Insurance Co. Ltd - Company Overview
7.2.4 NH NongHyup Life Insurance Co. Ltd - Company Overview
7.2.5 Mirae Asset Life Insurance Co. Ltd - Company Overview
7.2.6 Shinhan Life Insurance Co. Ltd - Company Overview
7.2.7 Heungkuk Life Insurance Co. Ltd - Company Overview
7.2.8 Tong Yang Life Insurance Co. Ltd - Company Overview
7.2.9 ING Life Insurance Company Korea Ltd - Company Overview
7.2.10 MetLife Insurance Co. of Korea Ltd - Company Overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulations
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Workers' compensation insurance
8.4.3 Fire and liability insurance for buildings to cover third-party bodily injury caused by fire
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors (IAIS)
8.5.2 Financial Services Commission
8.5.3 Financial Supervisory Service
8.5.4 Korea Life Insurance Association (KLIA)
8.5.5 General Insurance Association of Korea (GIAK)
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and penalties
8.7 Company Registration and Operations
8.7.1 Types of insurance organization
8.7.2 Establishing a domestic company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margins
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)
9 Appendix
9.1 Contact Timetric
9.2 About Timetric
9.3 Timetric's Services
9.4 Disclaimer

List of Tables
Table 1: South Korean Life Insurance - Key Facts, 2014
Table 2: Insurance Industry Definitions
Table 3: South Korean Government Credit Ratings
Table 4: South Korean Life Insurance - New Business Direct Written Premium (KRW Trillion), 2010-2014
Table 5: South Korean Life Insurance - New Business Direct Written Premium (KRW Trillion), 2014-2019
Table 6: South Korean Life Insurance - Net Earned Premium (KRW Trillion), 2010-2014
Table 7: South Korean Life Insurance - Net Earned Premium (KRW Trillion), 2014-2019
Table 8: South Korean Life Insurance - Sum Assured (KRW Trillion), 2010-2014
Table 9: South Korean Life Insurance - Sum Assured (KRW Trillion), 2014-2019
Table 10: South Korean Life Insurance - Paid Claims (KRW Trillion), 2010-2014
Table 11: South Korean Life Insurance - Paid Claims (KRW Trillion), 2014-2019
Table 12: South Korean Life Insurance - Incurred Loss (KRW Trillion), 2010-2014
Table 13: South Korean Life Insurance - Incurred Loss (KRW Trillion), 2014-2019
Table 14: South Korean Life Insurance - Commissions and Expenses (KRW Trillion), 2010-2014
Table 15: South Korean Life Insurance - Commissions and Expenses (KRW Trillion), 2014-2019
Table 16: South Korean Life Insurance - Net Written Premium (% of GWP), 2010-2014
Table 17: South Korean Life Insurance - Net Written Premium (% of GWP), 2014-2019
Table 18: South Korean Life Insurance - Renewal Business Direct Written Premium (KRW Trillion), 2010-2014
Table 19: South Korean Life Insurance - Renewal Business Direct Written Premium (KRW Trillion), 2014-2019
Table 20: South Korean Life Insurance - Total Assets (KRW Trillion), 2010-2014
Table 21: South Korean Life Insurance - Total Assets (KRW Trillion), 2014-2019
Table 22: South Korean Life Insurance - Total Investment Income (KRW Trillion), 2010-2014
Table 23: South Korean Life Insurance - Total Investment Income (KRW Trillion), 2014-2019
Table 24: South Korean Life Insurance - Net Written Premium (KRW Trillion), 2010-2014
Table 25: South Korean Life Insurance - Net Written Premium (KRW Trillion), 2014-2019
Table 26: South Korean Individual Life Insurance - Direct Written Premium by Category (KRW Trillion), 2010-2014
Table 27: South Korean Individual Life Insurance - Direct Written Premium by Category (US$ Billion), 2010-2014
Table 28: South Korean Individual Life Insurance - Direct Written Premium by Category (KRW Trillion), 2014-2019
Table 29: South Korean Individual Life Insurance - Direct Written Premium by Category (US$ Billion), 2014-2019
Table 30: South Korean Individual Life Insurance - Policies by Category (Thousand), 2010-2014
Table 31: South Korean Individual Life Insurance - Policies by Category (Million), 2014-2019
Table 32: South Korean Individual Whole Life Insurance - Number of Active Policies (Million), 2010-2014
Table 33: South Korean Individual Whole Life Insurance - Number of Active Policies (Million), 2014-2019
Table 34: South Korean Individual Whole Life Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Table 35: South Korean Individual Whole Life Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 36: South Korean Individual General Annuity Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Table 37: South Korean Individual General Annuity Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 38: South Korean Individual Pension Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Table 39: South Korean Individual Pension Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 40: South Korean Individual Endowment Insurance - Number of Active Policies (Million), 2010-2014
Table 41: South Korean Individual Endowment Insurance - Number of Active Policies (Million), 2014-2019
Table 42: South Korean Individual Endowment Insurance- Direct Written Premium (KRW Trillion), 2010-2014
Table 43: South Korean Individual Endowment Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 44: South Korean Other Individual Life Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Table 45: South Korean Other Individual Life Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 46: South Korean Group Life Insurance - Direct Written Premium by Category (KRW Trillion), 2010-2014
Table 47: South Korean Group Life Insurance - Direct Written Premium by Category (US$ Billion), 2010-2014
Table 48: South Korean Group Life Insurance - Direct Written Premium by Category (KRW Trillion), 2014-2019
Table 49: South Korean Group Life Insurance - Direct Written Premium by Category (US$ Billion), 2014-2019
Table 50: South Korean Group Whole Life Insurance - Number of Active Policies (Million), 2010-2014
Table 51: South Korean Group Whole Life Insurance - Number of Active Policies (Million), 2014-2019
Table 52: South Korean Group Whole Life Insurance - Direct Written Premium (KRW Billion), 2010-2014
Table 53: South Korean Group Whole Life Insurance - Direct Written Premium (KRW Billion), 2014-2019
Table 54: South Korean Group Superannuation Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Table 55: South Korean Group Superannuation Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 56: South Korean Individual Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Table 57: South Korean Individual Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 58: South Korean Individual Non-Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Table 59: South Korean Individual Non-Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 60: South Korean Group Single-Premium Insurance - Direct Written Premium (KRW Billion), 2010-2014
Table 61: South Korean Group Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 62: South Korean Group Non-Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Table 63: South Korean Group Non-Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Table 64: South Korean Linked Insurance Business - Direct Written Premium (KRW Trillion), 2010-2014
Table 65: South Korean Linked Insurance Business - Direct Written Premium (KRW Trillion), 2014-2019
Table 66: South Korean Non-Linked Insurance Business - Direct Written Premium (KRW Trillion), 2010-2014
Table 67: South Korean Non-Linked Insurance Business - Direct Written Premium (KRW Trillion), 2014-2019
Table 68: South Korean Life Insurance - Direct Marketing Value of Commissions (KRW Billion), 2010-2014
Table 69: South Korean Life Insurance - Direct Marketing Value of Commissions (KRW Billion), 2014-2019
Table 70: South Korean Life Insurance - Direct Marketing New Business Direct Written Premium (KRW Billion), 2010-2014
Table 71: South Korean Life Insurance - Direct Marketing New Business Direct Written Premium (KRW Billion), 2014-2019
Table 72: South Korean Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2010-2014
Table 73: South Korean Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2014-2019
Table 74: South Korean Life Insurance - Sales Force, 2010-2014
Table 75: South Korean Life Insurance - Sales Force, 2014-2019
Table 76: South Korean Life Insurance - Bancassurance Value of Commissions (KRW Trillion), 2010-2014
Table 77: South Korean Life Insurance - Bancassurance Value of Commissions (KRW Trillion), 2014-2019
Table 78: South Korean Life Insurance - Bancassurance New Business Direct Written Premium (KRW Trillion), 2010-2014
Table 79: South Korean Life Insurance - Bancassurance New Business Direct Written Premium (KRW Trillion), 2014-2019
Table 80: South Korean Life Insurance - New Policies Sold Through Bancassurance (Million), 2010-2014
Table 81: South Korean Life Insurance - New Policies Sold Through Bancassurance (Million), 2014-2019
Table 82: South Korean Life Insurance - Number of Banking Entities, 2010-2014
Table 83: South Korean Life Insurance - Number of Banking Entities, 2014-2019
Table 84: South Korean Life Insurance - Agencies' Value of Commissions (KRW Trillion), 2010-2014
Table 85: South Korean Life Insurance - Agencies' Value of Commissions (KRW Trillion), 2014-2019
Table 86: South Korean Life Insurance - Agencies' New Business Direct Written Premium (KRW Trillion), 2010-2014
Table 87: South Korean Life Insurance - Agencies' New Business Direct Written Premium (KRW Trillion), 2014-2019
Table 88: South Korean Life Insurance - New Policies Sold Through Agencies (Million), 2010-2014
Table 89: South Korean Life Insurance - New Policies Sold Through Agencies (Million), 2014-2019
Table 90: South Korean Life Insurance - Number of Insurance Agents, 2010-2014
Table 91: South Korean Life Insurance - Number of Insurance Agents, 2014-2019
Table 92: South Korean Life Insurance - Brokers' Value of Commissions (KRW Billion), 2010-2014
Table 93: South Korean Life Insurance - Brokers' Value of Commissions (KRW Billion), 2014-2019
Table 94: South Korean Life Insurance - Brokers' New Business Direct Written Premium (KRW Billion), 2010-2014
Table 95: South Korean Life Insurance - Brokers' New Business Direct Written Premium (KRW Billion), 2014-2019
Table 96: South Korean Life Insurance - New Policies Sold Through Brokers (Thousand), 2010-2014
Table 97: South Korean Life Insurance - New Policies Sold Through Brokers (Thousand), 2014-2019
Table 98: South Korean Life Insurance - Other Channels' Value of Commissions (KRW Trillion), 2010-2014
Table 99: South Korean Life Insurance - Other Channels' Value of Commissions (KRW Trillion), 2014-2019
Table 100: South Korean Life Insurance - Other Channels' New Business Direct Written Premium (KRW Trillion), 2010-2014
Table 101: South Korean Life Insurance - Other Channels' New Business Direct Written Premium (KRW Trillion), 2014-2019
Table 102: South Korean Life Insurance - New Policies Sold Through Other Channels (Million), 2010-2014
Table 103: South Korean Life Insurance - New Policies Sold Through Other Channels (Million), 2014-2019
Table 104: South Korean Life Insurance - Segment Shares (%), 2014
Table 105: Samsung Life Insurance Co., Ltd - Key Facts
Table 106: Samsung Life Insurance Co., Ltd - Key Financials (KRW Billion), 2010-2014
Table 107: Hanwha Life Insurance Co. Ltd - Key Facts
Table 108: Hanwha Life Insurance Co. Ltd - Key Financials (KRW Billion), 2010-2014
Table 109: Kyobo Life Insurance Co. Ltd - Key Facts
Table 110: Kyobo Life Insurance Co. Ltd - Key Financials (KRW Billion), 2010-2014
Table 111: NH NongHyup Life Insurance Co., Ltd - Key Facts
Table 112: NHNongHyup Life Insurance Co., Ltd - Key Financials (KRW Billion), 2012-2014
Table 113: MiraeAsset Life Insurance Co. Ltd - Key Facts
Table 114: Mirae Asset Life Insurance Co. Ltd - Key Financials (KRW Billion), 2010-2014
Table 115: Shinhan Life Insurance Co. Ltd - Key Facts
Table 116: Shinhan Life Insurance Co. Ltd - Key Financials (KRW Billion), 2010-2014
Table 117: Heungkuk Life Insurance Co. Ltd - Key Facts
Table 118: Heungkuk Life Insurance Co. Ltd - Key Financials (KRW Billion), 2010-2014
Table 119: Tong Yang Life Insurance Co. Ltd - Key Facts
Table 120: Tong Yang Life Insurance Co. Ltd - Key Financials (KRW Billion), 2010-2014
Table 121: ING Life Insurance Company Korea Ltd - Key Facts
Table 122: ING Life Insurance Company Korea Ltd - Key Financials (KRW Billion), 2010-2014
Table 123: MetLife Insurance Co. of Korea Ltd - Key Facts
Table 124: MetLife Insurance Co. of Korea Ltd - Key Financials (KRW Billion), 2010-2014
Table 125: South Korea - Insurance Regulatory Framework Key Features
Table 126: South Korea - Life Insurance Regulatory Framework
Table 127: South Korea - Property Insurance Regulatory Framework
Table 128: South Korea - Motor Insurance Regulatory Framework
Table 129: South Korea - Liability Insurance Regulatory Framework
Table 130: South Korea - Corporate Tax Rates for the Financial Year 2015


List of Figures
Figure 1: South Korean Real GDP (KRW Trillion), 2010-2019
Figure 2: KRW per US$ Exchange Rate, 2010-2019
Figure 3: South Korean Consumer Price Inflation, 2010-2019
Figure 4: South Korean Current Account Balance as Percentage of GDP (%), 2010-2019
Figure 5: South Korean Unemployment Rate, 2010-2019
Figure 6: South Korean Population by Age Group, 1990-2025
Figure 7: South Korean Life Insurance - New Business Direct Written Premium (KRW Trillion), 2010-2014
Figure 8: South Korean Life Insurance - New Business Direct Written Premium (KRW Trillion), 2014-2019
Figure 9: South Korean Life Insurance - Net Earned Premium (KRW Trillion), 2010-2014
Figure 10: South Korean Life Insurance - Net Earned Premium (KRW Trillion), 2014-2019
Figure 11: South Korean Life Insurance - Sum Assured (KRW Trillion), 2010-2014
Figure 12: South Korean Life Insurance - Sum Assured (KRW Trillion), 2014-2019
Figure 13: South Korean Life Insurance - Paid Claims (KRW Trillion), 2010-2014
Figure 14: South Korean Life Insurance - Paid Claims (KRW Trillion), 2014-2019
Figure 15: South Korean Life Insurance - Incurred Loss (KRW Trillion), 2010-2014
Figure 16: South Korean Life Insurance - Incurred Loss (KRW Trillion), 2014-2019
Figure 17: South Korean Life Insurance - Commissions and Expenses (KRW Trillion), 2010-2014
Figure 18: South Korean Life Insurance - Commissions and Expenses (KRW Trillion), 2014-2019
Figure 19: South Korean Life Insurance - Net Written Premium (% of GWP), 2010-2014
Figure 20: South Korean Life Insurance - Net Written Premium (% of GWP), 2014-2019
Figure 21: South Korean Life Insurance - Renewal Business Direct Written Premium (KRW Trillion), 2010-2014
Figure 22: South Korean Life Insurance - Renewal Business Direct Written Premium (KRW Trillion), 2014-2019
Figure 23: South Korean Life Insurance - Total Assets (KRW Trillion), 2010-2014
Figure 24: South Korean Life Insurance - Total Assets (KRW Trillion), 2014-2019
Figure 25: South Korean Life Insurance - Total Investment Income (KRW Trillion), 2010-2014
Figure 26: South Korean Life Insurance - Total Investment Income (KRW Trillion), 2014-2019
Figure 27: South Korean Life Insurance - Net Written Premium (KRW Trillion), 2010-2014
Figure 28: South Korean Life Insurance - Net Written Premium (KRW Trillion), 2014-2019
Figure 29: South Korean Life Insurance - Investment Portfolio (KRW Trillion), 2010-2014
Figure 30: South Korean Life Insurance - Investment Portfolio, 2010 and 2014
Figure 31: South Korean Life Insurance - Penetration (%), 2010-2014
Figure 32: South Korean Life Insurance - Density (%), 2010-2014
Figure 33: South Korean Life Insurance - Number of New Policies Sold (Million), 2010-2014
Figure 34: South Korean Life Insurance - Number of New Policies Sold (Million), 2014-2019
Figure 35: South Korean Life Insurance - Total Investments (KRW Trillion), 2010-2014
Figure 36: South Korean Individual Life Insurance - Direct Written Premium by Category (KRW Trillion), 2010-2019
Figure 37: South Korean Individual Life Insurance - Direct Written Premium by Category (Percentage Share), 2014 and 2019
Figure 38: South Korean Individual Life Insurance - Direct Written Premium Dynamics by Category, 2010-2019
Figure 39: South Korean Individual Life Insurance - Policies by Category (Million), 2010-2019
Figure 40: South Korean Individual Life Insurance - Policies by Category (Percentage Share), 2014 and 2019
Figure 41: South Korean Individual Life Insurance - Policies Dynamics by Category, 2010-2019
Figure 42: South Korean Individual Whole Life Insurance - Number of Active Policies (Million), 2010-2014
Figure 43: South Korean Individual Whole Life Insurance - Number of Active Policies (Million), 2014-2019
Figure 44: South Korean Individual Whole Life Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Figure 45: South Korean Individual Whole Life Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 46: South Korean Individual General Annuity Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Figure 47: South Korean Individual General Annuity Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 48: South Korean Individual Pension Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Figure 49: South Korean Individual Pension Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 50: South Korean Individual Endowment Insurance - Number of Active Policies (Million), 2010-2014
Figure 51: South Korean Individual Endowment Insurance - Number of Active Policies (Million), 2014-2019
Figure 52: South Korean Individual Endowment Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Figure 53: South Korean Individual Endowment Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 54: South Korean Other Individual Life Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Figure 55: South Korean Other Individual Life Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 56: South Korean Group Life Insurance - Direct Written Premium by Category (KRW Billion), 2010-2019
Figure 57: South Korean Group Life Insurance - Direct Written Premium by Category (Percentage Share), 2014 and 2019
Figure 58: South Korean Group Life Insurance - Direct Written Premium Dynamics by Category, 2010-2019
Figure 59: South Korean Group Whole Life Insurance - Number of Active Policies (Million), 2010-2014
Figure 60: South Korean Group Whole Life Insurance - Number of Active Policies (Million), 2014-2019
Figure 61: South Korean Group Whole Life Insurance - Direct Written Premium (KRW Billion), 2010-2014
Figure 62: South Korean Group Whole Life Insurance - Direct Written Premium (KRW Billion), 2014-2019
Figure 63: South Korean Group Superannuation Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Figure 64: South Korean Group Superannuation Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 65: South Korean Individual Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Figure 66: South Korean Individual Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 67: South Korean Individual Non-Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Figure 68: South Korean Individual Non-Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 69: South Korean Group Single-Premium Insurance - Direct Written Premium (KRW Billion), 2010-2014
Figure 70: South Korean Group Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 71: South Korean Group Non-Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2010-2014
Figure 72: South Korean Group Non-Single-Premium Insurance - Direct Written Premium (KRW Trillion), 2014-2019
Figure 73: South Korean Linked Insurance Business - Direct Written Premium (KRW Trillion), 2010-2014
Figure 74: South Korean Linked Insurance Business - Direct Written Premium (KRW Trillion), 2014-2019
Figure 75: South Korean Non-Linked Insurance Business - Direct Written Premium (KRW Trillion), 2010-2014
Figure 76: South Korean Non-Linked Insurance Business - Direct Written Premium (KRW Trillion), 2014-2019
Figure 77: South Korean Life Insurance - New Business Gross Written Premium by Distribution Channel (Percentage Share), 2014 and 2019
Figure 78: South Korean Life Insurance - Direct Marketing Value of Commissions (KRW Billion), 2010-2014
Figure 79: South Korean Life Insurance - Direct Marketing Value of Commissions (KRW Billion), 2014-2019
Figure 80: South Korean Life Insurance - Direct Marketing New Business Direct Written Premium (KRW Billion), 2010-2014
Figure 81: South Korean Life Insurance - Direct Marketing New Business Direct Written Premium (KRW Billion), 2014-2019
Figure 82: South Korean Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2010-2014
Figure 83: South Korean Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2014-2019
Figure 84: South Korean Life Insurance - Sales Force, 2010-2014
Figure 85: South Korean Life Insurance - Sales Force, 2014-2019
Figure 86: South Korean Life Insurance - Bancassurance Value of Commissions (KRW Trillion), 2010-2014
Figure 87: South Korean Life Insurance - Bancassurance Value of Commissions (KRW Trillion), 2014-2019
Figure 88: South Korean Life Insurance - Bancassurance New Business Direct Written Premium (KRW Trillion), 2010-2014
Figure 89: South Korean Life Insurance - Bancassurance New Business Direct Written Premium (KRW Trillion), 2014-2019
Figure 90: South Korean Life Insurance - New Policies Sold Through Bancassurance (Million), 2010-2014
Figure 91: South Korean Life Insurance - New Policies Sold Through Bancassurance (Million), 2014-2019
Figure 92: South Korean Life Insurance - Number of Banking Entities, 2010-2014
Figure 93: South Korean Life Insurance - Number of Banking Entities, 2014-2019
Figure 94: South Korean Life Insurance - Agencies' Value of Commissions (KRW Trillion), 2010-2014
Figure 95: South Korean Life Insurance - Agencies' Value of Commissions (KRW Trillion), 2014-2019
Figure 96: South Korean Life Insurance - Agencies' New Business Direct Written Premium (KRW Trillion), 2010-2014
Figure 97: South Korean Life Insurance - Agencies' New Business Direct Written Premium (KRW Trillion), 2014-2019
Figure 98: South Korean Life Insurance - New Policies Sold Through Agencies (Million), 2010-2014
Figure 99: South Korean Life Insurance - New Policies Sold Through Agencies (Million), 2014-2019
Figure 100: South Korean Life Insurance - Number of Insurance Agents, 2010-2014
Figure 101: South Korean Life Insurance - Number of Insurance Agents, 2014-2019
Figure 102: South Korean Life Insurance - Brokers' Value of Commissions (KRW Billion), 2010-2014
Figure 103: South Korean Life Insurance - Brokers' Value of Commissions (KRW Billion), 2014-2019
Figure 104: South Korean Life Insurance - Brokers' New Business Direct Written Premium (KRW Billion), 2010-2014
Figure 105: South Korean Life Insurance - Brokers' New Business Direct Written Premium (KRW Billion), 2014-2019
Figure 106: South Korean Life Insurance - New Policies Sold Through Brokers (Thousand), 2010-2014
Figure 107: South Korean Life Insurance - New Policies Sold Through Brokers (Thousand), 2014-2019
Figure 108: South Korean Life Insurance - Other Channels' Value of Commissions (KRW Trillion), 2010-2014
Figure 109: South Korean Life Insurance - Other Channels' Value of Commissions (KRW Trillion), 2014-2019
Figure 110: South Korean Life Insurance - Other Channels' New Business Direct Written Premium (KRW Trillion), 2010-2014
Figure 111: South Korean Life Insurance - Other Channels' New Business Direct Written Premium (KRW Trillion), 2014-2019
Figure 112: South Korean Life Insurance - New Policies Sold Through Other Channels (Million), 2010-2014
Figure 113: South Korean Life Insurance - New Policies Sold Through Other Channels (Million), 2014-2019
Figure 114: South Korean Life Insurance - Segment Shares (%), 2014
Figure 115: South Korea - Insurance Supervision and Control at Various Levels
Figure 116: South Korea - Insurance Regulatory Frameworks for Company Registration and Operation
Figure 117: South Korea - Judiciary System

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  • Global Life Insurance Market Status and Outlook 2023-2028
    Published: 17-Mar-2023        Price: US 3160 Onwards        Pages: 125
    Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. Our market research experts provide qualitative and quantitative analysis of the market based on involving economic and non-economic factors in the same report with market value (m......
  • Global Life Insurance Market Insights: Impact of COVID-19 and Future Expectations to 2028
    Published: 28-Feb-2023        Price: US 3260 Onwards        Pages: 102
    The Life Insurance market revenue was 2942240.0 Million USD in 2022, and will reach 3928875.0 Million USD in 2028, with a CAGR of 4.94% during 2022-2028. This report elaborates the market size, market characteristics, and market growth of the Life Insurance industry, and breaks down according to the type, application, and consumption area of Life Insurance. The report also introduces players in the industry from the perspective of the industry chain and marketing chain and describ......
  • Global Universal Life Insurance Market Status and Outlook 2023-2028
    Published: 17-Feb-2023        Price: US 3160 Onwards        Pages: 125
    Universal life (UL) insurance is permanent life insurance with an investment savings component. Our market research experts provide qualitative and quantitative analysis of the market based on involving economic and non-economic factors in the same report with market value (million USD) data for each segment and sub-segment. This way, clients can achieve all their goals while taking advantage of emerging opportunities. Technological advancements, new product launches, and market capital f......
  • Global Term Life Insurance Market Status and Outlook 2023-2028
    Published: 16-Feb-2023        Price: US 3160 Onwards        Pages: 129
    Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. Our market research experts provide qualitative and quantitative analysis of the market based on involving economic and non-economic factors in the same report with market value (million USD) data for each segment and sub-segment. This way, clients can achieve all their goals while taking advantage of emerging opportunities. Technolog......
  • Global Permanent Life Insurance Market Status and Outlook 2023-2028
    Published: 13-Feb-2023        Price: US 3160 Onwards        Pages: 124
    Permanent life insurance is an umbrella term for life insurance policies that do not expire. Typically, permanent life insurance combines a death benefit with a savings portion. Whole life insurance offers coverage for the full lifetime of the insured, and its savings can grow at a guaranteed rate. Our market research experts provide qualitative and quantitative analysis of the market based on involving economic and non-economic factors in the same report with market value (million USD) d......
  • Global Life Insurance Market Research Report 2023
    Published: 06-Feb-2023        Price: US 2900 Onwards        Pages: 109
    Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses, such as funeral expense......
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