1. Life Insurance in South Korea, Key Trends and Opportunities to
2016
Report Details:
Published:September 2012
No. of Pages: 255
Price: Single User License – US$1950
Synopsis
The report provides in depth market analysis, information and insights into the South Korea life
insurance market, including:
•The South Korean life insurance market’s growth prospects by life insurance categories and
customer segments
•The various distribution channels in the South Korea life insurance market
•The competitive landscape in the South Korea life insurance market
•A description of the life reinsurance market in South Korea
In terms of gross written premiums, the South Korean insurance industry is the world’s ninth-
largest insurance industry and is, behind Japan and China, the third-largest insurance industry in
Asia. Moreover, the industry has grown significantly over the last decade due to an overall
increase in consumer awareness of insurance products and South Korea’s strong macroeconomic
growth, which has resulted in the country now having the highest gross insurance written
premiums per capita in Asia and the highest gross written premiums as a percentage of GDP in
Asia.
Scope
This report provides a comprehensive analysis of the life insurance market in South Korea:
•It provides historical values for the South Korea life insurance market for the report’s 2007–2011
review period and forecast figures for the 2012–2016 forecast period
•It offers a detailed analysis of the key sub-segments in the South Korea life insurance market,
along with market forecasts until 2016
•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 insurance products in South Korea
•Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in
South Korea for life insurance business
•It provides a detailed analysis of the reinsurance market in South Korea and its growth prospects

2. •It profiles the top life insurance companies in South Korea and outlines the key regulations
affecting them
Key highlights
•In terms of gross written premiums, the South Korean insurance industry is the world’s ninth-
largest insurance industry and is, behind Japan and China, the third-largest insurance industry in
Asia.
•The industry has grown significantly over the last decade due to an overall increase in consumer
awareness of insurance products and South Korea’s strong macroeconomic growth.
•Although the value of the segment declined for the first time in 2009 as a result of the global
financial crisis, it recovered in 2010 due to diversifying consumer needs.
•The life insurance industry is expected to record robust growth over the forecast period, driven by
South Korea’s rapidly aging population and consequent continued demand for post-retirement
protection products such as annuities and savings insurance products.
•South Korea’s insurance regulatory authority, the Financial Supervisory Service (FSS),
introduced a new solvency regime centered on risk-based capital (RBC) in April 2011.
Reasons to buy
•Make strategic business decisions using in depth historic and forecast market data related to the
South Korean life insurance market and each sector within it
•Understand the demand-side dynamics, key market trends and growth opportunities within the
South Korean life insurance market
•Assess the competitive dynamics in the life insurance market
•Identify the growth opportunities and market dynamics within key product categories
•Gain insights into key regulations governing the South Korean insurance market and its impact on
companies and the market's future
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2016.html
Major points covered in Table of Contents of this report include
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 South Korean Insurance Industry Attractiveness
3.1 Insurance Industry Market Size, 2007–2016
3.2 Key Industry Trends and Drivers
3.2.1 Business drivers
3.2.2 Consumer drivers
3.3 Recent Market Developments

3. 4 Life Insurance Market Outlook
4.1 Life Insurance Growth Prospects by Category
4.1.1 Individual life insurance category
4.1.2 Individual general annuity category
4.1.3 Individual pension category
4.1.4 Individual endowment category
4.1.5 Individual unit-linked insurance sub-category
4.1.6 Individual others category
4.1.7 Group life insurance category
4.1.8 Group superannuation category
4.2 Life Insurance Growth Prospects by Customer Segments
4.2.1 Individual single premium category
4.2.2 Individual non-single premium category
4.2.3 Group single premium category
4.2.4 Group non-single premium category
5 Analysis by Distribution Channel
5.1 Direct marketing channel
5.2 Bancassurance channel
5.3 Agencies channel
5.4 E-Commerce channel
5.5 Brokers channel
5.6 Other channels
6 Regulatory Policies
7 Porter’s Five Forces Analysis – South Korean Life Insurance
7.1 Bargaining Power of Supplier: Medium
7.2 Bargaining Power of Buyer: Low to Medium
7.3 Barriers to Entry: Medium to High
7.4 Intensity of Rivalry: High
7.5 Threat of Substitutes: Low
8 Reinsurance Growth Dynamics and Challenges
8.1 Reinsurance market size, 2007–2016
8.2 Reinsurance market size by type of insurance, 2007–2016
9 Competitive Landscape and Strategic Insights
9.1 Overview
9.2 Leading Companies in the South Korean Life Insurance Segment
9.3 Comparison of Leading Five Insurers
9.3.1 Gross written premium
9.3.2 Outwards reinsurance expense
9.3.3 Gross claims
9.3.4 Paid claims
9.3.5 Pre-tax profit/loss
9.3.6 Total assets

4. 9.3.7 Total investment income
9.4 Samsung Life Insurance Co., Ltd. – Company Overview
9.4.1 Samsung Life Insurance Co., Ltd. – key facts
9.4.2 Samsung Life Insurance Co., Ltd. – key financials
9.5 Kyobo Life Insurance Co., Ltd. – Company Overview
9.5.1 Kyobo Life Insurance Co., Ltd. – key facts
9.5.2 Kyobo Life Insurance Co., Ltd. – key financials
9.6 Korea Life Insurance Co., Ltd. – Company Overview
9.6.1 Korea Life Insurance Co., Ltd. – key facts
9.6.2 Korea Life Insurance Co., Ltd. – key financials
9.7 ING Life Insurance Company Korea, Ltd. – Company Overview
9.7.1 ING Life Insurance Company Korea, Ltd. – key facts
9.7.2 ING Life Insurance Company Korea, Ltd. – key financials
9.8 Mirae Asset Life Insurance Co., Ltd. – Company Overview
9.8.1 Mirae Asset Life Insurance Co., Ltd. – key facts
9.8.2 Mirae Asset Life Insurance Co., Ltd. – key financials
9.9 Shinhan Life Insurance Co., Ltd. – Company Overview
9.9.1 Shinhan Life Insurance Co., Ltd. – key facts
9.9.2 Shinhan Life Insurance Co., Ltd. – key financials
9.1 Tong Yang Life Insurance Co. Ltd. – Company Overview
9.10.1 Tong Yang Life Insurance Co. Ltd. – key facts
9.10.2 Tong Yang Life Insurance Co. Ltd. – key financials
9.11 Hungkuk Life Insurance Co., Ltd. – Company Overview
9.11.1 Hungkuk Life Insurance Co., Ltd. – key facts
9.11.2 Hungkuk Life Insurance Co., Ltd. – key financials
9.12 MetLife Insurance Co. of Korea Ltd. – Company Overview
9.12.1 MetLife Insurance Co. of Korea Ltd. – key facts
9.12.2 MetLife Insurance Co. of Korea Ltd. – key financials
9.13 Allianz Life Insurance Co. Ltd. – Company Overview
9.13.1 Allianz Life Insurance Co. Ltd. – key facts
9.13.2 Allianz Life Insurance Co. Ltd. – key financials
10 Business Environment and Country Risk
10.1 Business Confidence
10.1.1 Business confidence indicator
10.1.2 Market capitalization trend – Korea Exchange, South Korea
10.1.3 FDI inflows by sector
10.2 Economic Performance
10.2.1 GDP at constant prices (US dollar)
10.2.2 GDP per capita at constant prices (US dollar)
10.2.3 GDP at current prices (US dollar)
10.2.4 GDP per capita at current prices (US dollar)
10.2.5 GDP by key segments

5. 10.2.6 Agricultural net output at current prices (South Korean won)
10.2.7 Agricultural net output at current prices (US dollar)
10.2.8 Agricultural net output at current prices as a percentage of GDP
10.2.9 Manufacturing net output at current prices (South Korean won)
10.2.10 Manufacturing net output at current prices (US dollar)
10.2.11 Manufacturing net output at current prices as a percentage of GDP
10.2.12 Mining, manufacturing and utilities net output at current prices (South Korean Won)
10.2.13 Mining, manufacturing and utilities at current prices (US dollar)
10.2.14 Mining, manufacturing and utilities at current prices, as percentage of GDP
10.2.15 Construction net output at current prices (South Korean won)
10.2.16 Construction net output at current prices (US dollar)
10.2.17 Construction net output at current prices as a percentage of GDP
10.2.18 Inflation rate
10.2.19 Current account balance as a percentage of GDP
10.2.20 Exports as a percentage of GDP
10.2.21 Imports as a percentage of GDP
10.2.22 Exports growth
10.2.23 Imports growth
10.2.24 External debt as a percentage of GDP
10.2.25 Annual average exchange rate US$–KRW
10.2.26 End-of-period exchange rate US$–KRW
10.3 Infrastructure Quality and Availability
10.3.1 Total airports and sea ports
10.3.2 Railways and roadways
10.3.3 Passenger vehicle production volume
10.3.4 Commercial vehicle production volume
10.3.5 Automotive component exports trend
10.3.6 Automotive component imports trend
10.3.7 Passenger car penetration
10.3.8 Healthcare expenditure
10.3.9 Healthcare expenditure as a percentage of GDP
10.3.10 Healthcare expenditure per capita
10.3.11 Total internet subscribers
10.4 Labor Force
10.4.1 Labor force
10.4.2 Unemployment rate
10.5 Demographics
10.5.1 Annual disposable income
10.5.2 Annual per capita disposable income
10.5.3 Total population
10.5.4 Urban and rural population
10.5.5 Female percentage of population

6. 10.5.6 Male percentage of population
10.5.7 Mean age of the population
10.5.8 Median age of population
10.5.9 Population density
10.5.10 Age distribution of the total population
10.5.11 Age distribution of the male population
10.5.12 Age distribution of the female population
10.5.13 Number of households
10.6 Political and Social Risk
10.6.1 Political stability
10.6.2 Terrorism index
10.6.3 Transparency index
11 Appendix
11.1 Methodology
11.2 Contact Us
11.3 About Timetric
11.4 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: South Korean Insurance Overall Written Premium by Segment (KRW Billion), 2007–2011
Table 3: South Korean Insurance Overall Written Premium by Segment (US$ Billion), 2007–2011
Table 4: South Korean Insurance Overall Written Premium by Segment (KRW Billion), 2011–2016
Table 5: South Korean Insurance Overall Written Premium by Segment (US$ Billion), 2011–2016
Table 6: South Korean Insurance Segmentation (% Share), 2007–2016
Table 7: South Korean Life Insurance Written Premium by Category (KRW Billion), 2007–2011
Table 8: South Korean Life Insurance Written Premium by Category (US$ Billion), 2007–2011
Table 9: South Korean Life Insurance Written Premium by Category (KRW Billion), 2011–2016
Table 10: South Korean Life Insurance Written Premium by Category (US$ Billion), 2011–2016
Table 11: South Korean Life Insurance – Earned Premium (KRW Billion), 2007–2011
Table 12: South Korean Life Insurance – Earned Premium (KRW Billion), 2011–2016
Table 13: South Korean Life Insurance – Sum Assured (KRW Trillion), 2007–2011
Table 14: South Korean Life Insurance – Sum Assured (KRW Trillion), 2011–2016
Table 15: South Korean Life Insurance – Paid Claims (KRW Billion), 2007–2011
Table 16: South Korean Life Insurance – Paid Claims (KRW Billion), 2011–2016
Table 17: South Korean Life Insurance – Incurred Loss (KRW Billion), 2007–2011
Table 18: South Korean Life Insurance – Incurred Loss (KRW Billion), 2011–2016
Table 19: South Korean Life Insurance – Loss Ratio (%), 2007–2011
Table 20: South Korean Life Insurance – Loss Ratio (%), 2011–2016
Table 21: South Korean Life Insurance – Commissions and Expenses (KRW Billion), 2007–2011
Table 22: South Korean Life Insurance – Commissions and Expenses (KRW Billion), 2011–2016
Table 23: South Korean Life Insurance – Combined Ratio (%), 2007–2011
Table 24: South Korean Life Insurance – Combined Ratio (%), 2011–2016

7. Table 25: South Korean Life Insurance – Frauds and Crimes (KRW Billion), 2007–2011
Table 26: South Korean Life Insurance – Frauds and Crimes (KRW Billion), 2011–2016
Table 27: South Korean Life Insurance – Total Assets (KRW Billion), 2007–2011
Table 28: South Korean Life Insurance – Total Assets (KRW Billion), 2011–2016
Table 29: South Korean Life Insurance – Total Investment Income (KRW Billion), 2007–2011
Table 30: South Korean Life Insurance – Total Investment Income (KRW Billion), 2011–2016
Table 31: South Korean Life Insurance – Retentions (KRW Billion), 2007–2011
Table 32: South Korean Life Insurance – Retentions (KRW Billion), 2011–2016
Table 33: South Korean Individual Life Insurance Category – Number of Active Policies
(Thousand), 2007–2011
Table 34: South Korean Individual Life Insurance Category – Number of Active Policies,
2011–2016
Table 35: South Korean Individual Life Insurance Category – Written Premium (KRW Billion),
2007–2011
Table 36: South Korean Individual Life Insurance Category – Written Premium (KRW Billion),
2011–2016
Table 37: South Korean Individual General Annuity Category – Number of Active Policies
(Thousand), 2007–2011
Table 38: South Korean Individual General Annuity Category – Number of Active Policies
(Thousand), 2011–2016
Table 39: South Korean Individual General Annuity Category – Written Premium (KRW Billion),
2007–2011
Table 40: South Korean Individual General Annuity Category – Written Premium (KRW Billion),
2011–2016
Table 41: South Korean Individual Pension Category – Number of Active Policies (Thousand),
2007–2011
Table 42: South Korean Individual Pension Category – Number of Active Policies (Thousand),
2011–2016
Table 43: South Korean Individual Pension Category – Written Premium (KRW Billion),
2007–2011
Table 44: South Korean Individual Pension Category – Written Premium (KRW Billion),
2011–2016
Table 45: South Korean Individual Endowment Category – Number of Active Policies (Thousand),
2007–2011
Table 46: South Korean Individual Endowment Category – Number of Active Policies (Thousand),
2011–2016
Table 47: South Korean Individual Endowment Category – Written Premium (KRW Billion),
2007–2011
Table 48: South Korean Individual Endowment Category – Written Premium (KRW Billion),
2011–2016
Table 49: South Korean Individual Unit-linked Insurance Sub-Category – Number of Active
Policies (Thousand), 2007–2011

8. Table 50: South Korean Individual Unit-linked Insurance Sub-Category – Number of Active
Policies (Thousand), 2011–2016
Table 51: South Korean Individual Unit-linked Insurance Sub-Category – Written Premium (KRW
Billion), 2007–2011
Table 52: South Korean Individual Unit-linked Insurance Sub-Category – Written Premium (KRW
Billion), 2011–2016
Table 53: South Korean Individual Others Category – Number of Active Policies (Thousand),
2007–2011
Table 54: South Korean Individual Others Category – Number of Active Policies (Thousand),
2011–2016
Table 55: South Korean Individual Others Category – Written Premium (KRW Billion), 2007–2011
Table 56: South Korean Individual Others Category – Written Premium (KRW Billion), 2011–2016
Table 57: South Korean Group Life Insurance Category – Number of Active Policies (Thousand),
2007–2011
Table 58: South Korean Group Life Insurance Category – Number of Active Policies (Thousand),
2011–2016
Table 59: South Korean Group Life Insurance Category – Written Premium (KRW Billion),
2007–2011
Table 60: South Korean Group Life Insurance Category – Written Premium (KRW Billion),
2011–2016
Table 61: South Korean Group Superannuation Category – Number of Active Policies (Thousand),
2007–2011
Table 62: South Korean Group Superannuation – Number of Active Policies (Thousand),
2011–2016
Table 63: South Korean Group Superannuation Category – Written Premium (KRW Billion),
2007–2011
Table 64: South Korean Group Superannuation Category – Written Premium (KRW Billion),
2011–2016
Table 65: South Korean Individual Single Premium Category – Number of Active Policies
(Thousand), 2007–2011
Table 66: South Korean Individual Single Premium Category – Number of Active Policies
(Thousand), 2011–2016
Table 67: South Korean Individual Single Premium Category – Written Premium (KRW Billion),
2007–2011
Table 68: South Korean Individual Single Premium Category – Written Premium (KRW Billion),
2011–2016
Table 69: South Korean Individual Non-Single Premium Category – Number of Active Policies
(Thousand), 2007–2011
Table 70: South Korean Individual Non-Single Premium Category – Number of Active Policies
(Thousand), 2011–2016
Table 71: South Korean Individual Non-Single Premium Category – Written Premium (KRW
Billion), 2007–2011

9. Table 72: South Korean Individual Non-Single Premium Category – Written Premium (KRW
Billion), 2011–2016
Table 73: South Korean Group Single Premium Category – Number of Active Policies (Thousand),
2007–2011
Table 74: South Korean Group Single Premium Category – Number of Active Policies (Thousand),
2011–2016
Table 75: South Korean Group Single Premium Category – Written Premium (KRW Billion),
2007–2011
Table 76: South Korean Group Single Premium Category – Written Premium (KRW Billion),
2011–2016
Table 77: South Korean Group Non-Single Premium Category – Number of Active Policies
(Thousand), 2007–2011
Table 78: South Korean Group Non-Single Premium Category – Number of Active Policies
(Thousand), 2011–2016
Table 79: South Korean Group Non-Single Premium Category – Written Premium (KRW Billion),
2007–2011
Table 80: South Korean Group Non-Single Premium Category – Written Premium (KRW Billion),
2011–2016
Table 81: South Korean Life Insurance – Direct Marketing Commission Paid (KRW Billion),
2007–2011
Table 82: South Korean Life Insurance – Direct Marketing Commission Paid (KRW Billion),
2011–2016
Table 83: South Korean Life Insurance – New Business Written Premium Through Direct
Marketing (KRW Billion), 2007–2011
Table 84: South Korean Life Insurance – New Business Written Premium Through Direct
Marketing (KRW Billion), 2011–2016
Table 85: South Korean Life Insurance – New Policies Sold Through Direct Marketing (Thousand),
2007–2011
Table 86: South Korean Life Insurance – New Policies Sold Through Direct Marketing (Thousand),
2011–2016
Table 87: South Korean Life Insurance – Number of Direct Marketing Distributors, 2007–2011
Table 88: South Korean Life Insurance – Number of Direct Marketing Distributors, 2011–2016
Table 89: South Korean Life Insurance – Bancassurance Commission Paid (KRW Billion),
2007–2011
Table 90: South Korean Life Insurance – Bancassurance Commission Paid (KRW Billion),
2011–2016
Table 91: South Korean Life Insurance – New Business Written Premium Through Bancassurance
(KRW Billion), 2007–2011
Table 92: South Korean Life Insurance – New Business Written Premium Through Bancassurance
(KRW Billion), 2011–2016
Table 93: South Korean Life Insurance – New Policies Sold Through Bancassurance (Thousand),
2007–2011

10. Table 94: South Korean Life Insurance – New Policies Sold Through Bancassurance (Thousand),
2011–2016
Table 95: South Korean Life Insurance – Number of Bancassurance Distributors, 2007–2011
Table 96: South Korean Life Insurance – Number of Bancassurance Distributors, 2011–2016
Table 97: South Korean Life Insurance – Commission Paid to Agencies (KRW Billion), 2007–2011
Table 98: South Korean Life Insurance – Commission Paid to Agencies (KRW Billion), 2011–2016
Table 99: South Korean Life Insurance – New Business Written Premium Through Agencies
(KRW Billion), 2007–2011
Table 100: South Korean Life Insurance – New Business Written Premium Through Agencies
(KRW Billion), 2011–2016
Table 101: South Korean Life Insurance – New Policies Sold Through Agencies (Thousand),
2007–2011
Table 102: South Korean Life Insurance – New Policies Sold Through Agencies (Thousand),
2011–2016
Table 103: South Korean Life Insurance – Number of Agencies, 2007–2011
Table 104: South Korean Life Insurance – Number of Agencies, 2011–2016
Table 105: South Korean Life Insurance – E-Commerce Commission Paid (KRW Billion),
2007–2011
Table 106: South Korean Life Insurance – E-Commerce Commission Paid (KRW Billion),
2011–2016
Table 107: South Korean Life Insurance – New Business Written Premium Through E-Commerce
(KRW Billion), 2007–2011
Table 108: South Korean Life Insurance – New Business Written Premium Through E-Commerce
(KRW Billion), 2011–2016
Table 109: South Korean Life Insurance – New Policies Sold Through E-Commerce (Thousand),
2007–2011
Table 110: South Korean Life Insurance – New Policies Sold Through E-Commerce (Thousand),
2011–2016
Table 111: South Korean Life Insurance – Number of E-Commerce Distributors, 2007–2011
Table 112: South Korean Life Insurance – Number of E-Commerce Distributors, 2011–2016
Table 113: South Korean Life Insurance – Commission Paid to Brokers (KRW Billion), 2007–2011
Table 114: South Korean Life Insurance – Commission Paid to Brokers (KRW Billion), 2011–2016
Table 115: South Korean Life Insurance – New Business Written Premium Through Brokers (KRW
Billion), 2007–2011
Table 116: South Korean Life Insurance – New Business Written Premium Through Brokers (KRW
Billion), 2011–2016
Table 117: South Korean Life Insurance – New Policies Sold Through Brokers (Thousand),
2007–2011
Table 118: South Korean Life Insurance – New Policies Sold Through Brokers (Thousand),
2011–2016
Table 119: South Korean Life Insurance – Number of Brokers, 2007–2011
Table 120: South Korean Life Insurance – Number of Brokers, 2011–2016

11. Table 121: South Korean Life Insurance – Commission Paid to Other Channels (KRW Billion),
2007–2011
Table 122: South Korean Life Insurance – Commission Paid to Other Channels (KRW Billion),
2011–2016
Table 123: South Korean Life Insurance – New Business Written Premium Through Other
Channels (KRW Billion), 2007–2011
Table 124: South Korean Life Insurance – New Business Written Premium Through Other
Channels (KRW Billion), 2011–2016
Table 125: South Korean Life Insurance – New Policies Sold Through Other Channels
(Thousand), 2007–2011
Table 126: South Korean Life Insurance – New Policies Sold Through Other Channels
(Thousand), 2011–2016
Table 127: South Korean Life Insurance – Number of Distributors in Other Channels, 2007–2011
Table 128: South Korean Life Insurance – Number of Distributors in Other Channels, 2011–2016
Table 129: Reinsurance Market in South Korea by Category (KRW Billion), 2007–2011
Table 130: Reinsurance Market in South Korea by Category (US$ Billion), 2007–2011
Table 131: Reinsurance Market in South Korea by Category (KRW Billion), 2011–2016
Table 132: Reinsurance Market in South Korea by Category (US$ Billion), 2011–2016
Table 133: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),
2007–2011
Table 134: South Korean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),
2007–2011
Table 135: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),
2011–2016
Table 136: South Korean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),
2011–2016
Table 137: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 138: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 139: South Korean Life Insurance Market Share (%), 2007–2011
Table 140: Samsung Life Insurance Co., Ltd. , Key Facts
Table 141: Samsung Life Insurance Co., Ltd., Key Financials (KRW Million)
Table 142: Kyobo Life Insurance Co., Ltd., Key Facts
Table 143: Kyobo Life Insurance Co., Ltd., Key Financials (KRW Million)
Table 144: Korea Life Insurance Co., Ltd., Key Facts
Table 145: Korea Life Insurance Co., Ltd., Key Financials (KRW Million)
Table 146: ING Life Insurance Company Korea, Ltd., Key Facts
Table 147: ING Life Insurance Company Korea, Ltd., Key Financials (KRW Million)
Table 148: Mirae Asset Life Insurance Co., Ltd., Key Facts
Table 149: Mirae Asset Life Insurance Co., Ltd., Key Financials (KRW Million)
Table 150: Shinhan Life Insurance Co., Ltd., Key Facts
Table 151: Shinhan Life Insurance Co., Ltd., Key Financials (KRW Million)
Table 152: Tong Yang Life Insurance Co. Ltd., Key Facts

12. Table 153: Tong Yang Life Insurance Co. Ltd., Key Financials (KRW Million)
Table 154: Hungkuk Life Insurance Co., Ltd., Key Facts
Table 155: Hungkuk Life Insurance Co., Ltd., Key Financials (KRW Million)
Table 156: MetLife Insurance Co. of Korea Ltd., Key Facts
Table 157: MetLife Insurance Co. of Korea Ltd., Key Financials (KRW Million)
Table 158: Allianz Life Insurance Co. Ltd., Key Facts
Table 159: Allianz Life Insurance Co. Ltd., Key Financials (KRW Million)
List of Figures
Figure 1: South Korean Insurance Overall Written Premium by Segment (KRW Billion), 2007–2016
Figure 2: South Korean Insurance Market Dynamics by Segment, 2007–2016
Figure 3: South Korean Life Insurance Written Premium by Category (KRW Billion), 2007–2016
Figure 4: South Korean Life Insurance Written Premium by Category (% Share), 2011 and 2016
Figure 5: South Korean Life Insurance Market Dynamics by Category, 2007–2016
Figure 6: South Korean Life Insurance – Earned Premium (KRW Billion), 2007–2011
Figure 7: South Korean Life Insurance – Earned Premium (KRW Billion), 2011–2016
Figure 8: South Korean Life Insurance – Sum Assured (KRW Trillion), 2007–2011
Figure 9: South Korean Life Insurance – Sum Assured (KRW Trillion), 2011–2016
Figure 10: South Korean Life Insurance – Paid Claims (KRW Billion), 2007–2011
Figure 11: South Korean Life Insurance – Paid Claims (KRW Billion), 2011–2016
Figure 12: South Korean Life Insurance – Incurred Loss (KRW Billion), 2007–2011
Figure 13: South Korean Life Insurance – Incurred Loss (KRW Billion), 2011–2016
Figure 14: South Korean Life Insurance – Loss Ratio (%), 2007–2011
Figure 15: South Korean Life Insurance – Loss Ratio (%), 2011–2016
Figure 16: South Korean Life Insurance – Commissions and Expenses (KRW Billion), 2007–2011
Figure 17: South Korean Life Insurance – Commissions and Expenses (KRW Billion), 2011–2016
Figure 18: South Korean Life Insurance – Combined Ratio (%), 2007–2011
Figure 19: South Korean Life Insurance – Combined Ratio (%), 2011–2016
Figure 20: South Korean Life Insurance – Frauds and Crimes (KRW Billion), 2007–2011
Figure 21: South Korean Life Insurance – Frauds and Crimes (KRW Billion), 2011–2016
Figure 22: South Korean Life Insurance – Total Assets (KRW Billion), 2007–2011
Figure 23: South Korean Life Insurance – Total Assets (KRW Billion), 2011–2016
Figure 24: South Korean Life Insurance – Total Investment Income (KRW Billion), 2007–2011
Figure 25: South Korean Life Insurance – Total Investment Income (KRW Billion), 2011–2016
Figure 26: South Korean Life Insurance – Retentions (KRW Billion), 2007–2011
Figure 27: South Korean Life Insurance – Retentions (KRW Billion), 2011–2016
Figure 28: South Korean Life Insurance – Investment Portfolio (KRW Billion), 2007–2011
Figure 29: South Korean Life Insurance – Investment Portfolio, 2007 and 2011
Figure 30: South Korean Life Insurance Penetration (% of GDP), 2007–2011
Figure 31: South Korean Life Insurance Density (Number of Policies per Capita), 2007–2011
Figure 32: South Korean Life Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 33: South Korean Life Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 34: South Korean Life Insurance – Premium Per-capita (LCU), 2007–2011

13. Figure 35: South Korean Individual Life Insurance Category – Number of Active Policies
(Thousand), 2007–2011
Figure 36: South Korean Individual Life Insurance Category – Number of Active Policies
(Thousand), 2011–2016
Figure 37: South Korean Individual Life Insurance Category – Written Premium (KRW Billion),
2007–2011
Figure 38: South Korean Individual Life Insurance Category – Written Premium (KRW Billion),
2011–2016
Figure 39: South Korean Individual General Annuity Category – Number of Active Policies
(Thousand), 2007–2011
Figure 40: South Korean Individual General Annuity Category – Number of Active Policies
(Thousand), 2011–2016
Figure 41: South Korean Individual General Annuity Category – Written Premium (KRW Billion),
2007–2011
Figure 42: South Korean Individual General Annuity Category – Written Premium (KRW Billion),
2011–2016
Figure 43: South Korean Individual Pension Category – Number of Active Policies (Thousand),
2007–2011
Figure 44: South Korean Individual Pension Category – Number of Active Policies (Thousand),
2011–2016
Figure 45: South Korean Individual Insurance Category – Written Premium (KRW Billion),
2007–2011
Figure 46: South Korean Individual Pension Category – Written Premium (KRW Billion),
2011–2016
Figure 47: South Korean Individual Endowment Category – Number of Active Policies (Thousand),
2007–2011
Figure 48: South Korean Individual Endowment Category – Number of Active Policies (Thousand),
2011–2016
Figure 49: South Korean Individual Endowment Category – Written Premium (KRW Billion),
2007–2011
Figure 50: South Korean Individual Endowment Category – Written Premium (KRW Billion),
2011–2016
Figure 51: South Korean Individual Unit-linked Insurance Sub-Category – Number of Active
Policies (Thousand), 2007–2011
Figure 52: South Korean Individual Unit-linked Insurance Sub-Category – Number of Active
Policies (Thousand), 2011–2016
Figure 53: South Korean Individual Unit-linked Insurance Sub-Category – Written Premium (KRW
Billion), 2007–2011
Figure 54: South Korean Individual Unit-linked Insurance Sub-Category – Written Premium (KRW
Billion), 2011–2016
Figure 55: South Korean Individual Others Category – Number of Active Policies (Thousand),
2007–2011

14. Figure 56: South Korean Individual Others Category – Number of Active Policies (Thousand),
2011–2016
Figure 57: South Korean Individual Others Category – Written Premium (KRW Billion), 2007–2011
Figure 58: South Korean Individual Others Category – Written Premium (KRW Billion), 2011–2016
Figure 59: South Korean Group Life Insurance Category – Number of Active Policies (Thousand),
2007–2011
Figure 60: South Korean Group Life Insurance Category – Number of Active Policies (Thousand),
2011–2016
Figure 61: South Korean Group Life Insurance Category – Written Premium (KRW Billion),
2007–2011
Figure 62: South Korean Group Life Insurance Category – Written Premium (KRW Billion),
2011–2016
Figure 63: South Korean Group Superannuation Category – Number of Active Policies
(Thousand), 2007–2011
Figure 64: South Korean Group Superannuation Category – Number of Active Policies
(Thousand), 2011–2016
Figure 65: South Korean Group Superannuation Category – Written Premium (KRW Billion),
2007–2011
Figure 66: South Korean Group Superannuation Category – Written Premium (KRW Billion),
2011–2016
Figure 67: South Korean Individual Single Premium Category – Number of Active Policies
(Thousand), 2007–2011
Figure 68: South Korean Individual Single Premium Category – Number of Active Policies
(Thousand), 2011–2016
Figure 69: South Korean Individual Single Premium Category – Written Premium (KRW Billion),
2007–2011
Figure 70: South Korean Individual Single Premium Category – Written Premium (KRW Billion),
2011–2016
Figure 71: South Korean Individual Non-Single Premium Category – Number of Active Policies
(Thousand), 2007–2011
Figure 72: South Korean Individual Non-Single Premium Category – Number of Active Policies
(Thousand), 2011–2016
Figure 73: South Korean Individual Non-Single Premium Category – Written Premium (KRW
Billion), 2007–2011
Figure 74: South Korean Individual Non-Single Premium Category – Written Premium (KRW
Billion), 2011–2016
Figure 75: South Korean Group Single Premium Category – Number of Active Policies
(Thousand), 2007–2011
Figure 76: South Korean Group Single Premium Category – Number of Active Policies
(Thousand), 2011–2016
Figure 77: South Korean Group Single Premium Category – Written Premium (KRW Billion),
2007–2011

15. Figure 78: South Korean Group Single Premium Category – Written Premium (KRW Billion),
2011–2016
Figure 79: South Korean Group Non-Single Premium Category – Number of Active Policies
(Thousand), 2007–2011
Figure 80: South Korean Group Non-Single Premium Category – Number of Active Policies
(Thousand), 2011–2016
Figure 81: South Korean Group Non-Single Premium Category – Written Premium (KRW Billion),
2007–2011
Figure 82: South Korean Group Non-Single Premium Category – Written Premium (KRW Billion),
2011–2016
Figure 83: South Korean Life Insurance New Business Written Premium by Distribution Channel
(% Share), 2011 and 2016
Figure 84: South Korean Life Insurance – Direct Marketing Commission Paid (KRW Billion),
2007–2011
Figure 85: South Korean Life Insurance – Direct Marketing Commission Paid (KRW Billion),
2011–2016
Figure 86: South Korean Life Insurance – New Business Written Premium Through Direct
Marketing (KRW Billion), 2007–2011
Figure 87: South Korean Life Insurance – New Business Written Premium Through Direct
Marketing (KRW Billion), 2011–2016
Figure 88: South Korean Life Insurance – New Policies Sold Through Direct Marketing
(Thousand), 2007–2011
Figure 89: South Korean Life Insurance – New Policies Sold Through Direct Marketing
(Thousand), 2011–2016
Figure 90: South Korean Life Insurance – Number of Direct Marketing Distributors, 2007–2011
Figure 91: South Korean Life Insurance – Number of Direct Marketing Distributors, 2011–2016
Figure 92: South Korean Life Insurance – Bancassurance Commission Paid (KRW Billion),
2007–2011
Figure 93: South Korean Life Insurance – Bancassurance Commission Paid (KRW Billion),
2011–2016
Figure 94: South Korean Life Insurance – New Business Written Premium Through
Bancassurance (KRW Billion), 2007–2011
Figure 95: South Korean Life Insurance – New Business Written Premium Through
Bancassurance (KRW Billion), 2011–2016
Figure 96: South Korean Life Insurance – New Policies Sold Through Bancassurance (Thousand),
2007–2011
Figure 97: South Korean Life Insurance – New Policies Sold Through Bancassurance (Thousand),
2011–2016
Figure 98: South Korean Life Insurance – Number of Bancassurance Distributors, 2007–2011
Figure 99: South Korean Life Insurance – Number of Bancassurance Distributors, 2011–2016
Figure 100: South Korean Life Insurance – Commission Paid to Agencies (KRW Billion),
2007–2011

16. Figure 101: South Korean Life Insurance – Commission Paid to Agencies (KRW Billion),
2011–2016
Figure 102: South Korean Life Insurance – New Business Written Premium Through Agencies
(KRW Billion), 2007–2011
Figure 103: South Korean Life Insurance – New Business Written Premium Through Agencies
(KRW Billion), 2011–2016
Figure 104: South Korean Life Insurance – New Policies Sold Through Agencies (Thousand),
2007–2011
Figure 105: South Korean Life Insurance – New Policies Sold Through Agencies (Thousand),
2011–2016
Figure 106: South Korean Life Insurance – Number of Agencies, 2007–2011
Figure 107: South Korean Life Insurance – Number of Agencies, 2011–2016
Figure 108: South Korean Life Insurance – E-Commerce Commission Paid (KRW Billion),
2007–2011
Figure 109: South Korean Life Insurance – E-Commerce Commission Paid (KRW Billion),
2011–2016
Figure 110: South Korean Life Insurance – New Business Written Premium Through E-Commerce
(KRW Billion), 2007–2011
Figure 111: South Korean Life Insurance – New Business Written Premium Through E-Commerce
(KRW Billion), 2011–2016
Figure 112: South Korean Life Insurance – New Policies Sold Through E-Commerce (Thousand),
2007–2011
Figure 113: South Korean Life Insurance – New Policies Sold Through E-Commerce (Thousand),
2011–2016
Figure 114: South Korean Life Insurance – Number of E-Commerce Distributors, 2007–2011
Figure 115: South Korean Life Insurance – Number of E-Commerce Distributors, 2011–2016
Figure 116: South Korean Life Insurance – Commission Paid to Brokers (KRW Billion), 2007–2011
Figure 117: South Korean Life Insurance – Commission Paid to Brokers (KRW Billion), 2011–2016
Figure 118: South Korean Life Insurance – New Business Written Premium Through Brokers
(KRW Billion), 2007–2011
Figure 119: South Korean Life Insurance – New Business Written Premium Through Brokers
(KRW Billion), 2011–2016
Figure 120: South Korean Life Insurance – New Policies Sold Through Brokers (Thousand),
2007–2011
Figure 121: South Korean Life Insurance – New Policies Sold Through Brokers (Thousand),
2011–2016
Figure 122: South Korean Life Insurance – Number of Brokers, 2007–2011
Figure 123: South Korean Life Insurance – Number of Brokers, 2011–2016
Figure 124: South Korean Life Insurance – Commission Paid to Other Channels (KRW Billion),
2007–2011
Figure 125: South Korean Life Insurance – Commission Paid to Other Channels (KRW Billion),
2011–2016

17. Figure 126: South Korean Life Insurance – New Business Written Premium Through Other
Channels (KRW Billion), 2007–2011
Figure 127: South Korean Life Insurance – New Business Written Premium Through Other
Channels (KRW Billion), 2011–2016
Figure 128: South Korean Life Insurance – New Policies Sold Through Other Channels
(Thousand), 2007–2011
Figure 129: South Korean Life Insurance – New Policies Sold Through Other Channels
(Thousand), 2011–2016
Figure 130: South Korean Life Insurance – Number of Distributors in Other Channels, 2007–2011
Figure 131: South Korean Life Insurance – Number of Distributors in Other Channels, 2011–2016
Figure 132: South Korean Life Insurance – Porter’s Five Forces Analysis
Figure 133: South Korean Premium Ceded to Reinsurance by Category (KRW Billion), 2007–2016
Figure 134: South Korean Premium Ceded to Reinsurance by Category (% Share), 2011 and
2016
Figure 135: South Korean Reinsurance Market Dynamics by Category, 2007–2016
Figure 136: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),
2007–2016
Figure 137: South Korean Reinsurance Market Dynamics by Type of Insurance, 2007–2016
Figure 138: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 139: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 140: South Korean Life Insurance Market Share (%), 2007 and 2011
Figure 141: South Korean Five Leading Life Insurers — Gross Written Premium (KRW Million),
2011
Figure 142: South Korean Five Leading Life Insurers — Outwards Reinsurance Expense (KRW
Million), 2011
Figure 143: South Korean Five Leading Life Insurers — Gross Claims (KRW Million), 2011
Figure 144: South Korean Five Leading Life Insurers — Paid Claims (KRW Million), 2011
Figure 145: South Korean Five Leading Life Insurers — Pre-Tax Profit/Loss (KRW Million), 2011
Figure 146: South Korean Five Leading Life Insurers — Total Assets (KRW Million), 2011
Figure 147: South Korean Five Leading Life Insurers — Total Assets (KRW Million), 2011
Figure 148: South Korea Business Confidence Indicator, Q1 2008–Q2 2012
Figure 149: Korea Exchange Market Capitalization (US$ Billion), 2007–2011
Figure 150: FDI Inflows by Sector (US$ Billion), 2007–2011
Figure 151: South Korean GDP at Constant Prices (US$ Billion), 2007–2011
Figure 152: South Korean GDP Per Capita at Constant Prices (US$), 2007–2011
Figure 153: South Korean GDP at Current Prices (US$ Billion), 2007–2011
Figure 154: South Korean GDP Per Capita at Current Prices (US$), 2007–2011
Figure 155: South Korean GDP by Key Segments (%) 2009 and 2011
Figure 156: South Korean Agricultural Net Output at Current Prices (KRW Billion), 2007–2011
Figure 157: South Korean Agricultural Net Output at Current Prices (US$ Billion), 2007–2011
Figure 158: South Korean Agricultural Net Output at Current Prices as a Percentage of GDP (%),
2007–2011

18. Figure 159: South Korean Manufacturing Net Output at Current Prices (KRW Billion), 2007–2011
Figure 160: South Korean Manufacturing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 161: South Korean Manufacturing Net Output at Current Prices as a Percentage of GDP
(%), 2007–2011
Figure 162: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices (KRW
Billion), 2007–2011
Figure 163: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices (US$
Billion), 2007–2011
Figure 164: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices as a
Percentage of GDP (%), 2007–2011
Figure 165: South Korean Construction Net Output at Current Prices (KRW Billion), 2007–2011
Figure 166: South Korean Construction Net Output at Current Prices (US$ Billion), 2007–2011
Figure 167: South Korean Construction Net Output at Current Prices as a Percentage of GDP (%),
2007–2011
Figure 168: South Korean Inflation Rate (%), 2007–2011
Figure 169: South Korean Current Account Balance as a Percentage of GDP(%), 2007–2011
Figure 170: South Korean Exports as a Percentage of GDP (%), 2007–2011
Figure 171: South Korean Imports as a Percentage of GDP (%), 2007–2011
Figure 172: South Korean Exports Growth (%), 2007–2011
Figure 173: South Korean Imports Growth (%), 2007–2011
Figure 174: External debt as a Percentage of GDP (%), 2007–2011
Figure 175: South Korean Annual Average Exchange Rate US$–KRW, 2007–2011
Figure 176: South Korean End-of-Period Exchange Rate US$–KRW, 2007–2011
Figure 177: Total Number of South Korea Airports and Sea Ports, 2011
Figure 178: South Korean Railways and Roadways (Kilometers), 2011
Figure 179: South Korean Passenger Vehicle Production, 2007–2011
Figure 180: South Korean Commercial Vehicle Production, 2007–2011
Figure 181: South Korean Automotive Component Exports (US$ Billion), 2007–2011
Figure 182: South Korean Automotive Component Imports (US$ Billion), 2007–2011
Figure 183: South Korean Passenger Car Penetration (per thousand people), 2007–2011
Figure 184: South Korean Healthcare Expenditure (US$ Billion), 2007–2011
Figure 185: South Korean Healthcare Expenditure as a Percentage of GDP (%), 2007–2011
Figure 186: South Korean Per Capita Healthcare Expenditure (US$), 2007–2011
Figure 187: South Korean Internet Subscriptions (Millions), 2007–2011
Figure 188: South Korean Size of Labor Force in 15–59 Age Group (Million), 2007–2011
Figure 189: South Korean Unemployment Rate (%), 2007–2011
Figure 190: South Korean Annual Disposable Income (US$ Billion), 2007–2011
Figure 191: South Korean Annual Per Capita Disposable Income (US$), 2007–2011
Figure 192: South Korean Total Population (Million), 2007–2011
Figure 193: South Korean Urban and Rural Population (%), 2007–2011
Figure 194: South Korean Female as Percentage of Population (%), 2007–2011
Figure 195: South Korean Male as Percentage of Population (%), 2007–2011

19. Figure 196: South Korean Mean Age of Population (Year), 2007–2011
Figure 197: South Korean Median Age of Population (Year), 2007–2011
Figure 198: South Korean Population Density (per Square Kilometer), 2007–2011
Figure 199: South Korean Population Distribution by Age (%), 2007–2011
Figure 200: South Korean Male Population Distribution by Age (%), 2007–2011
Figure 201: South Korean Female Population Distribution by Age (%), 2007–2011
Figure 202: South Korean Households, Number of (Million), 2007–2011
Figure 203: Global Terrorism Heat Map, 2011
Figure 204: South Korean Transparency Index, 2007–2011
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