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Non-Life Insurance in South Korea

Synopsis

Non-Life Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Summary

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in South Korea
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea non-life insurance market with five year forecasts

Scope

Essential resource for top-line data and analysis covering the South Korea non-life insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Reasons To Buy

- What was the size of the South Korea non-life insurance market by value in 2015?
- What will be the size of the South Korea non-life insurance market in 2020?
- What factors are affecting the strength of competition in the South Korea non-life insurance market?
- How has the market performed over the last five years?
- Who are the top competitors in South Korea's non-life insurance market?

Key Highlights

The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer. Any currency conversions used in the report have been calculated using constant 2015 annual average exchange rates.

The South Korean non-life insurance market had total gross written premiums of $56.7bn in 2015, representing a compound annual growth rate (CAGR) of 5.5% between 2011 and 2015.

The property segment was the market's most lucrative in 2015, with total gross written premiums of $19.9bn, equivalent to 35% of the market's overall value.

The four leading companies in the South Korean non-life insurance account for around 80% of the gross written premiums, a high level of concentration that intensifies rivalry.