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Insurance in South Korea

Published: November 2012 · Publisher: MarketLine
Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016).
Report Type Industry Profiles
Language English
Format Electronic (PDF)
Pages32
Frequency Updated Annually
Availability Will be emailed within 1 business day
Reference No. 0109-2290
Price € 259,00
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Introduction

Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the South Korea insurance market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Highlights

*The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2011 average exchange rates.

*The South Korean insurance market had total gross written premiums of $130.9 billion in 2011, representing a compound annual growth rate (CAGR) of 7.7% between 2007 and 2011.

*The life insurance segment was the market's most lucrative in 211, with total gross written premiums of $79.5 billion, equivalent to 6.7% of the market's overall value.

*The performance of the market is forecast to decelerate, with an anticipated CAGR of 7.2% for the five-year period 2011 - 2016, which is expected to drive the market to a value of $185.2 billion by the end of 2016.

Features

Save time carrying out entry-level research by identifying the size, growth, and leading players in the insurance market in South Korea

Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in South Korea

Leading company profiles reveal details of key insurance market players’ global operations and financial performance

Add weight to presentations and pitches by understanding the future growth prospects of the South Korea insurance market with five year forecasts

Macroeconomic indicators provide insight into general trends within the South Korea economy

Key Questions Answered

What was the size of the South Korea insurance market by value in 2011?

What will be the size of the South Korea insurance market in 2016?

What factors are affecting the strength of competition in the South Korea insurance market?

How has the market performed over the last five years?

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TABLE OF CONTENTS
Executive Summary 2
Market value 2
Market value forecast 2
Category segmentation 2
Geography segmentation 2
Market rivalry 2
Market Overview 7
Market definition 7
Market analysis 7
Market Data 8
Market value 8
Market Segmentation 9
Category segmentation 9
Geography segmentation 10
Market Outlook 11
Market value forecast 11
Five Forces Analysis 12
Summary 12
Buyer power 13
Supplier power 14
New entrants 15
Threat of substitutes 16
Degree of rivalry 17
Leading Companies 18
Hyundai Marine & Fire Insurance Co., Ltd. 18
Korea Life Insurance Co. Ltd. 21
Kyobo Life Insurance Co., Ltd. 24
Samsung Life Insurance Co., Ltd. 25
Macroeconomic Indicators 28
Country Data 28
Appendix 30
Methodology 30
Industry associations 31
Related research 31

LIST OF TABLES
Table 1: South Korea insurance market value: $ billion, 2007–11 8
Table 2: South Korea insurance market category segmentation: $ billion, 2011 9
Table 3: South Korea insurance market geography segmentation: $ billion, 2011 10
Table 4: South Korea insurance market value forecast: $ billion, 2011–16 11
Table 5: Hyundai Marine & Fire Insurance Co., Ltd.: key facts 18
Table 6: Hyundai Marine & Fire Insurance Co., Ltd.: key financials ($) 18
Table 7: Hyundai Marine & Fire Insurance Co., Ltd.: key financials (KRW) 19
Table 8: Hyundai Marine & Fire Insurance Co., Ltd.: key financial ratios 19
Table 9: Korea Life Insurance Co. Ltd.: key facts 21
Table 10: Korea Life Insurance Co. Ltd.: key financials ($) 21
Table 11: Korea Life Insurance Co. Ltd.: key financials (KRW) 21
Table 12: Korea Life Insurance Co. Ltd.: key financial ratios 22
Table 13: Kyobo Life Insurance Co., Ltd.: key facts 24
Table 14: Samsung Life Insurance Co., Ltd.: key facts 25
Table 15: Samsung Life Insurance Co., Ltd.: key financials ($) 25
Table 16: Samsung Life Insurance Co., Ltd.: key financials (KRW) 26
Table 17: Samsung Life Insurance Co., Ltd.: key financial ratios 26
Table 18: South Korea size of population (million), 2007–11 28
Table 19: South Korea gdp (constant 2000 prices, $ billion), 2007–11 28
Table 20: South Korea gdp (current prices, $ billion), 2007–11 28
Table 21: South Korea inflation, 2007–11 29
Table 22: South Korea consumer price index (absolute), 2007–11 29
Table 23: South Korea exchange rate, 2007–11 29

LIST OF FIGURES
Figure 1: South Korea insurance market value: $ billion, 2007–11 8
Figure 2: South Korea insurance market category segmentation: % share, by value, 2011 9
Figure 3: South Korea insurance market geography segmentation: % share, by value, 2011 10
Figure 4: South Korea insurance market value forecast: $ billion, 2011–16 11
Figure 5: Forces driving competition in the insurance market in South Korea, 2011 12
Figure 6: Drivers of buyer power in the insurance market in South Korea, 2011 13
Figure 7: Drivers of supplier power in the insurance market in South Korea, 2011 14
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in South Korea, 2011 15
Figure 9: Factors influencing the threat of substitutes in the insurance market in South Korea, 2011 16
Figure 10: Drivers of degree of rivalry in the insurance market in South Korea, 2011 17
Figure 11: Hyundai Marine & Fire Insurance Co., Ltd.: revenues & profitability 19
Figure 12: Hyundai Marine & Fire Insurance Co., Ltd.: assets & liabilities 20
Figure 13: Korea Life Insurance Co. Ltd.: revenues & profitability 22
Figure 14: Korea Life Insurance Co. Ltd.: assets & liabilities 23
Figure 15: Samsung Life Insurance Co., Ltd.: revenues & profitability 26
Figure 16: Samsung Life Insurance Co., Ltd.: assets & liabilities 27
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