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"South Korea Insurance Report Q1 2014" now available at Fast Market Research

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2013-12-23 18:58:34 - Fast Market Research recommends "South Korea Insurance Report Q1 2014" from Business Monitor International, now available

The competitive landscape of South Korea's insurance sector continues to be dominated by massive companies that are members of the local chaebol corporate groups. Overall, the sector appears mature by many standards. Nevertheless, the ongoing growth in health insurance and long-term insurance is underpinning the development of the non-life segment. In the life segment, particular companies are gaining market share through development of new products and/or changes in distribution practices. As of late 2013, BMI remains of the view that the market is an attractive opportunity for large multinational companies in both segments.

In the life segment, demand for annuities is being boosted by the ageing of the population and by success on the part of particular insurers in lifting the

productivity of some distribution channels. The non-life companies are achieving double-digit growth in premiums - but thanks mainly to rising demand for long-term products. The long-term products would, in most other countries, be offered by companies in the life segment. Moreover, recent legal changes have lifted demand for particular non-life lines (such as compulsory liability insurance for managers of public facilities).

Full Report Details at
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Nevertheless, there are challenges. The environment of low economic growth and low interest rates means that it has become harder for the leading life companies to offer annuities that are both attractive to the customers and profitable for them. Several of the leading regional life insurance companies, such as Allianz, Prudential plc and AIA, have emphasised how they are shunning unprofitable business in South Korea in the reports that they published through 2012. This is at a time that the regulator is increasing its requirements in relation to capital.

For the foreseeable future, both segments will continue to be dominated by the offshoots of the chaebol corporate groups that dominate South Korea's economy, even if some of these insurers are listed companies. Nevertheless, a wildcard, and a positive one, is the change of shareholding in Kyobo Life. New private equity/institutional shareholders will probably guide South Korea's third largest life company towards a stock market listing. As of late 2013, ING has announced the sale of its life insurance operation in South Korea to MBK Partners, the country's largest private equity firm.

Report Table of Contents:

BMI Industry View
- Table: South Korea Total Premiums, 2010-2017
- Insurance
- Political
- Economic
- Business Environment
Industry Forecast
- Life
- Table: South Korea Life Premiums, 2010-2017
- Non-Life
- Table: South Korea Total Non-Life Premiums, 2010-2017
Industry Risk Reward Ratings
- Asia Pacific Industry Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
- South Korea Insurance Risk/Reward Ratings
- Table: South Korea's Insurance Risk/Reward Ratings
Market Overview
- Life Sector Update
- Non-Life Sector Update
Industry Trends And Developments
- Life Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics 2010-2017
- Non-Life Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Political Stability Outlook
- Table: Asia Pacific Regional Security Ratings
- Healthcare System
- Healthcare Financing
- Epidemiology
- Table: Insurance Key Drivers, Disease Adjusted Life Years, 2010-2017
- Motor
- Table: Insurance Key Drivers, Autos, 2010-2017
Competitive Landscape
- South Korea Competitive Landscape
- Asia Pacific Competitive Landscape
Company Profile
- AIA Group
- Allianz
- American International Group (AIG)
- Hanwha Life
- Hyundai Marine & Fire Insurance
- MetLife
- Prudential Financial
- Prudential plc
- Samsung Fire & Marine
- Samsung Life
- Sun Life Financial
Regional Overview
- Asia Non-Life Sector Overview
- Table: Asia Pacific's Non Life Premiums, 2010-2017 (US$mn)
- Asia Life Sector Overview
- Table: Asia Pacific Life Premiums, 2010-2017 (US$mn)
Demographic Forecast
- Demographic Outlook
- Table: South Korea's Population By Age Group, 1990-2020 ('000)
- Table: South Korea's Population By Age Group, 1990-2020 (% of total)
- Table: South Korea's Key Population Ratios, 1990-2020
- Table: South Korea's Rural And Urban Population, 1990-2020
- Industry Forecast Methodology
- Risk/Reward Rating Methodology
- Table: Insurance Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

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