New Market Study Published: Non-Life Insurance in South Korea, Key Trends and Opportunities to 2017

The non-life insurance segment is broadly divided into the property, motor, general liability and marine, aviation and transit insurance categories. The written premium of the segment grew from KRW19.3 trillion (US$17.5 billion) in 2008 to KRW25.6 trillion (US$22.7 billion) in 2012, growing at a CAGR of 7.3% during the review period. Robust economic growth following the global downturn and the increased penetration of non-life insurance products, especially in the property and motor categories, were the key drivers of growth for the non-life insurance segment in South Korea. Increasing construction and infrastructure activity and rising automobiles sales in the country are further expected to fuel the demand for non-life insurance products over the forecast period. The written premium of the non-life insurance segment is projected to grow at a CAGR of 6.4% over the forecast period to reach a value of KRW34.96 trillion (US$32.9 billion) in 2017.

Full Report Details at
- http://www.fastmr.com/prod/721125_nonlife_insurance_in_south_korea_key_trends_and.aspx?afid=301

Key Highlights

* The South Korean non-life insurance segment grew from KRW19.3 trillion (US$17.5 billion) in 2008 to KRW25.6 trillion (US$22.7 billion) in 2012, at a CAGR of 7.3% during the review period
* Growth of the non-life insurance segment will be primarily driven by the sale of motor and property insurance
* The segment is highly concentrated, with the top-four companies accounting for 71.7% of the written premium in 2011
* Property insurance was the second largest category in the non-life insurance segment in 2012, accounting for 22.6% of the total non-life insurance written premium in 2012
* The regulatory environment in the insurance industry is also expected to drive the non-life insurance segment over the forecast period

Scope

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

* It provides historical values for South Korea's non-life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
* It offers a detailed analysis of the key sub-segments in South Korea's non-life insurance segment, along with market forecasts until 2017
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
* It analyses the various distribution channels for non-life insurance products in South Korea
* Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in South Korea for the non-life insurance segment
* It provides a detailed analysis of the reinsurance segment in South Korea and its growth prospects
* It profiles the top non-life insurance companies in South Korea and outlines the key regulations affecting them

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