Life Insurance in South Korea
- December 2016
- 34 pages
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.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in South Korea
- Leading company profiles reveal details of key 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 life insurance market with five year forecasts
Essential resource for top-line data and analysis covering the South Korea 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 life insurance market by value in 2015?
- What will be the size of the South Korea life insurance market in 2020?
- What factors are affecting the strength of competition in the South Korea life insurance market?
- How has the market performed over the last five years?
- Who are the top competitiors in South Korea's life insurance market?
The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2015 annual average exchange rates. 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 not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
The South Korean life insurance market had total gross written premiums of $103.2bn in 2015, representing a compound annual growth rate (CAGR) of 7.4% between 2011 and 2015.
The life insurance segment was the market's most lucrative in 2015, with total gross written premiums of $80.3bn, equivalent to 77.8% of the market's overall value.
The decline seen in the market in 2013 can largely be attributed to the introduction of new regulations eradicating tax benefits for immediate annuities. The market has since recovered from this, although weaker economic progression and a low interest rate environment are tapering this growth to an extent.