Life Insurance in South Korea, Key Trends and Opportunities to 2016

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Life Insurance in South Korea, Key Trends and Opportunities to 2016

  1. 1. Life Insurance in South Korea, Key Trends and Opportunities to2016Report Details:Published:September 2012No. of Pages: 255Price: Single User License – US$1950SynopsisThe report provides in depth market analysis, information and insights into the South Korea lifeinsurance 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 KoreaIn 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 inAsia. Moreover, the industry has grown significantly over the last decade due to an overallincrease in consumer awareness of insurance products and South Korea’s strong macroeconomicgrowth, which has resulted in the country now having the highest gross insurance writtenpremiums per capita in Asia and the highest gross written premiums as a percentage of GDP inAsia.ScopeThis 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. 2. •It profiles the top life insurance companies in South Korea and outlines the key regulations affecting themKey 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 markets futureGet your copy of this report @http://www.reportsnreports.com/reports/194724-life-insurance-in-south-korea-key-trends-and-opportunities-to-2016.htmlMajor points covered in Table of Contents of this report includeTable of Contents1 Executive Summary2 Introduction2.1 What is this Report About?2.2 Definitions2.3 Methodology3 South Korean Insurance Industry Attractiveness3.1 Insurance Industry Market Size, 2007–20163.2 Key Industry Trends and Drivers3.2.1 Business drivers3.2.2 Consumer drivers3.3 Recent Market Developments
  3. 3. 4 Life Insurance Market Outlook4.1 Life Insurance Growth Prospects by Category4.1.1 Individual life insurance category4.1.2 Individual general annuity category4.1.3 Individual pension category4.1.4 Individual endowment category4.1.5 Individual unit-linked insurance sub-category4.1.6 Individual others category4.1.7 Group life insurance category4.1.8 Group superannuation category4.2 Life Insurance Growth Prospects by Customer Segments4.2.1 Individual single premium category4.2.2 Individual non-single premium category4.2.3 Group single premium category4.2.4 Group non-single premium category5 Analysis by Distribution Channel5.1 Direct marketing channel5.2 Bancassurance channel5.3 Agencies channel5.4 E-Commerce channel5.5 Brokers channel5.6 Other channels6 Regulatory Policies7 Porter’s Five Forces Analysis – South Korean Life Insurance7.1 Bargaining Power of Supplier: Medium7.2 Bargaining Power of Buyer: Low to Medium7.3 Barriers to Entry: Medium to High7.4 Intensity of Rivalry: High7.5 Threat of Substitutes: Low8 Reinsurance Growth Dynamics and Challenges8.1 Reinsurance market size, 2007–20168.2 Reinsurance market size by type of insurance, 2007–20169 Competitive Landscape and Strategic Insights9.1 Overview9.2 Leading Companies in the South Korean Life Insurance Segment9.3 Comparison of Leading Five Insurers9.3.1 Gross written premium9.3.2 Outwards reinsurance expense9.3.3 Gross claims9.3.4 Paid claims9.3.5 Pre-tax profit/loss9.3.6 Total assets
  4. 4. 9.3.7 Total investment income9.4 Samsung Life Insurance Co., Ltd. – Company Overview9.4.1 Samsung Life Insurance Co., Ltd. – key facts9.4.2 Samsung Life Insurance Co., Ltd. – key financials9.5 Kyobo Life Insurance Co., Ltd. – Company Overview9.5.1 Kyobo Life Insurance Co., Ltd. – key facts9.5.2 Kyobo Life Insurance Co., Ltd. – key financials9.6 Korea Life Insurance Co., Ltd. – Company Overview9.6.1 Korea Life Insurance Co., Ltd. – key facts9.6.2 Korea Life Insurance Co., Ltd. – key financials9.7 ING Life Insurance Company Korea, Ltd. – Company Overview9.7.1 ING Life Insurance Company Korea, Ltd. – key facts9.7.2 ING Life Insurance Company Korea, Ltd. – key financials9.8 Mirae Asset Life Insurance Co., Ltd. – Company Overview9.8.1 Mirae Asset Life Insurance Co., Ltd. – key facts9.8.2 Mirae Asset Life Insurance Co., Ltd. – key financials9.9 Shinhan Life Insurance Co., Ltd. – Company Overview9.9.1 Shinhan Life Insurance Co., Ltd. – key facts9.9.2 Shinhan Life Insurance Co., Ltd. – key financials9.1 Tong Yang Life Insurance Co. Ltd. – Company Overview9.10.1 Tong Yang Life Insurance Co. Ltd. – key facts9.10.2 Tong Yang Life Insurance Co. Ltd. – key financials9.11 Hungkuk Life Insurance Co., Ltd. – Company Overview9.11.1 Hungkuk Life Insurance Co., Ltd. – key facts9.11.2 Hungkuk Life Insurance Co., Ltd. – key financials9.12 MetLife Insurance Co. of Korea Ltd. – Company Overview9.12.1 MetLife Insurance Co. of Korea Ltd. – key facts9.12.2 MetLife Insurance Co. of Korea Ltd. – key financials9.13 Allianz Life Insurance Co. Ltd. – Company Overview9.13.1 Allianz Life Insurance Co. Ltd. – key facts9.13.2 Allianz Life Insurance Co. Ltd. – key financials10 Business Environment and Country Risk10.1 Business Confidence10.1.1 Business confidence indicator10.1.2 Market capitalization trend – Korea Exchange, South Korea10.1.3 FDI inflows by sector10.2 Economic Performance10.2.1 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. 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 GDP10.2.9 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 GDP10.2.12 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 GDP10.2.15 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 GDP10.2.18 Inflation rate10.2.19 Current account balance as a percentage of GDP10.2.20 Exports as a percentage of GDP10.2.21 Imports as a percentage of GDP10.2.22 Exports growth10.2.23 Imports growth10.2.24 External debt as a percentage of GDP10.2.25 Annual average exchange rate US$–KRW10.2.26 End-of-period exchange rate US$–KRW10.3 Infrastructure Quality and Availability10.3.1 Total airports and sea ports10.3.2 Railways and roadways10.3.3 Passenger vehicle production volume10.3.4 Commercial vehicle production volume10.3.5 Automotive component exports trend10.3.6 Automotive component imports trend10.3.7 Passenger car penetration10.3.8 Healthcare expenditure10.3.9 Healthcare expenditure as a percentage of GDP10.3.10 Healthcare expenditure per capita10.3.11 Total internet subscribers10.4 Labor Force10.4.1 Labor force10.4.2 Unemployment rate10.5 Demographics10.5.1 Annual disposable income10.5.2 Annual per capita disposable income10.5.3 Total population10.5.4 Urban and rural population10.5.5 Female percentage of population
  6. 6. 10.5.6 Male percentage of population10.5.7 Mean age of the population10.5.8 Median age of population10.5.9 Population density10.5.10 Age distribution of the total population10.5.11 Age distribution of the male population10.5.12 Age distribution of the female population10.5.13 Number of households10.6 Political and Social Risk10.6.1 Political stability10.6.2 Terrorism index10.6.3 Transparency index11 Appendix11.1 Methodology11.2 Contact Us11.3 About Timetric11.4 DisclaimerList of TablesTable 1: Insurance Industry DefinitionsTable 2: South Korean Insurance Overall Written Premium by Segment (KRW Billion), 2007–2011Table 3: South Korean Insurance Overall Written Premium by Segment (US$ Billion), 2007–2011Table 4: South Korean Insurance Overall Written Premium by Segment (KRW Billion), 2011–2016Table 5: South Korean Insurance Overall Written Premium by Segment (US$ Billion), 2011–2016Table 6: South Korean Insurance Segmentation (% Share), 2007–2016Table 7: South Korean Life Insurance Written Premium by Category (KRW Billion), 2007–2011Table 8: South Korean Life Insurance Written Premium by Category (US$ Billion), 2007–2011Table 9: South Korean Life Insurance Written Premium by Category (KRW Billion), 2011–2016Table 10: South Korean Life Insurance Written Premium by Category (US$ Billion), 2011–2016Table 11: South Korean Life Insurance – Earned Premium (KRW Billion), 2007–2011Table 12: South Korean Life Insurance – Earned Premium (KRW Billion), 2011–2016Table 13: South Korean Life Insurance – Sum Assured (KRW Trillion), 2007–2011Table 14: South Korean Life Insurance – Sum Assured (KRW Trillion), 2011–2016Table 15: South Korean Life Insurance – Paid Claims (KRW Billion), 2007–2011Table 16: South Korean Life Insurance – Paid Claims (KRW Billion), 2011–2016Table 17: South Korean Life Insurance – Incurred Loss (KRW Billion), 2007–2011Table 18: South Korean Life Insurance – Incurred Loss (KRW Billion), 2011–2016Table 19: South Korean Life Insurance – Loss Ratio (%), 2007–2011Table 20: South Korean Life Insurance – Loss Ratio (%), 2011–2016Table 21: South Korean Life Insurance – Commissions and Expenses (KRW Billion), 2007–2011Table 22: South Korean Life Insurance – Commissions and Expenses (KRW Billion), 2011–2016Table 23: South Korean Life Insurance – Combined Ratio (%), 2007–2011Table 24: South Korean Life Insurance – Combined Ratio (%), 2011–2016
  7. 7. Table 25: South Korean Life Insurance – Frauds and Crimes (KRW Billion), 2007–2011Table 26: South Korean Life Insurance – Frauds and Crimes (KRW Billion), 2011–2016Table 27: South Korean Life Insurance – Total Assets (KRW Billion), 2007–2011Table 28: South Korean Life Insurance – Total Assets (KRW Billion), 2011–2016Table 29: South Korean Life Insurance – Total Investment Income (KRW Billion), 2007–2011Table 30: South Korean Life Insurance – Total Investment Income (KRW Billion), 2011–2016Table 31: South Korean Life Insurance – Retentions (KRW Billion), 2007–2011Table 32: South Korean Life Insurance – Retentions (KRW Billion), 2011–2016Table 33: South Korean Individual Life Insurance Category – Number of Active Policies(Thousand), 2007–2011Table 34: South Korean Individual Life Insurance Category – Number of Active Policies,2011–2016Table 35: South Korean Individual Life Insurance Category – Written Premium (KRW Billion),2007–2011Table 36: South Korean Individual Life Insurance Category – Written Premium (KRW Billion),2011–2016Table 37: South Korean Individual General Annuity Category – Number of Active Policies(Thousand), 2007–2011Table 38: South Korean Individual General Annuity Category – Number of Active Policies(Thousand), 2011–2016Table 39: South Korean Individual General Annuity Category – Written Premium (KRW Billion),2007–2011Table 40: South Korean Individual General Annuity Category – Written Premium (KRW Billion),2011–2016Table 41: South Korean Individual Pension Category – Number of Active Policies (Thousand),2007–2011Table 42: South Korean Individual Pension Category – Number of Active Policies (Thousand),2011–2016Table 43: South Korean Individual Pension Category – Written Premium (KRW Billion),2007–2011Table 44: South Korean Individual Pension Category – Written Premium (KRW Billion),2011–2016Table 45: South Korean Individual Endowment Category – Number of Active Policies (Thousand),2007–2011Table 46: South Korean Individual Endowment Category – Number of Active Policies (Thousand),2011–2016Table 47: South Korean Individual Endowment Category – Written Premium (KRW Billion),2007–2011Table 48: South Korean Individual Endowment Category – Written Premium (KRW Billion),2011–2016Table 49: South Korean Individual Unit-linked Insurance Sub-Category – Number of ActivePolicies (Thousand), 2007–2011
  8. 8. Table 50: South Korean Individual Unit-linked Insurance Sub-Category – Number of ActivePolicies (Thousand), 2011–2016Table 51: South Korean Individual Unit-linked Insurance Sub-Category – Written Premium (KRWBillion), 2007–2011Table 52: South Korean Individual Unit-linked Insurance Sub-Category – Written Premium (KRWBillion), 2011–2016Table 53: South Korean Individual Others Category – Number of Active Policies (Thousand),2007–2011Table 54: South Korean Individual Others Category – Number of Active Policies (Thousand),2011–2016Table 55: South Korean Individual Others Category – Written Premium (KRW Billion), 2007–2011Table 56: South Korean Individual Others Category – Written Premium (KRW Billion), 2011–2016Table 57: South Korean Group Life Insurance Category – Number of Active Policies (Thousand),2007–2011Table 58: South Korean Group Life Insurance Category – Number of Active Policies (Thousand),2011–2016Table 59: South Korean Group Life Insurance Category – Written Premium (KRW Billion),2007–2011Table 60: South Korean Group Life Insurance Category – Written Premium (KRW Billion),2011–2016Table 61: South Korean Group Superannuation Category – Number of Active Policies (Thousand),2007–2011Table 62: South Korean Group Superannuation – Number of Active Policies (Thousand),2011–2016Table 63: South Korean Group Superannuation Category – Written Premium (KRW Billion),2007–2011Table 64: South Korean Group Superannuation Category – Written Premium (KRW Billion),2011–2016Table 65: South Korean Individual Single Premium Category – Number of Active Policies(Thousand), 2007–2011Table 66: South Korean Individual Single Premium Category – Number of Active Policies(Thousand), 2011–2016Table 67: South Korean Individual Single Premium Category – Written Premium (KRW Billion),2007–2011Table 68: South Korean Individual Single Premium Category – Written Premium (KRW Billion),2011–2016Table 69: South Korean Individual Non-Single Premium Category – Number of Active Policies(Thousand), 2007–2011Table 70: South Korean Individual Non-Single Premium Category – Number of Active Policies(Thousand), 2011–2016Table 71: South Korean Individual Non-Single Premium Category – Written Premium (KRWBillion), 2007–2011
  9. 9. Table 72: South Korean Individual Non-Single Premium Category – Written Premium (KRWBillion), 2011–2016Table 73: South Korean Group Single Premium Category – Number of Active Policies (Thousand),2007–2011Table 74: South Korean Group Single Premium Category – Number of Active Policies (Thousand),2011–2016Table 75: South Korean Group Single Premium Category – Written Premium (KRW Billion),2007–2011Table 76: South Korean Group Single Premium Category – Written Premium (KRW Billion),2011–2016Table 77: South Korean Group Non-Single Premium Category – Number of Active Policies(Thousand), 2007–2011Table 78: South Korean Group Non-Single Premium Category – Number of Active Policies(Thousand), 2011–2016Table 79: South Korean Group Non-Single Premium Category – Written Premium (KRW Billion),2007–2011Table 80: South Korean Group Non-Single Premium Category – Written Premium (KRW Billion),2011–2016Table 81: South Korean Life Insurance – Direct Marketing Commission Paid (KRW Billion),2007–2011Table 82: South Korean Life Insurance – Direct Marketing Commission Paid (KRW Billion),2011–2016Table 83: South Korean Life Insurance – New Business Written Premium Through DirectMarketing (KRW Billion), 2007–2011Table 84: South Korean Life Insurance – New Business Written Premium Through DirectMarketing (KRW Billion), 2011–2016Table 85: South Korean Life Insurance – New Policies Sold Through Direct Marketing (Thousand),2007–2011Table 86: South Korean Life Insurance – New Policies Sold Through Direct Marketing (Thousand),2011–2016Table 87: South Korean Life Insurance – Number of Direct Marketing Distributors, 2007–2011Table 88: South Korean Life Insurance – Number of Direct Marketing Distributors, 2011–2016Table 89: South Korean Life Insurance – Bancassurance Commission Paid (KRW Billion),2007–2011Table 90: South Korean Life Insurance – Bancassurance Commission Paid (KRW Billion),2011–2016Table 91: South Korean Life Insurance – New Business Written Premium Through Bancassurance(KRW Billion), 2007–2011Table 92: South Korean Life Insurance – New Business Written Premium Through Bancassurance(KRW Billion), 2011–2016Table 93: South Korean Life Insurance – New Policies Sold Through Bancassurance (Thousand),2007–2011
  10. 10. Table 94: South Korean Life Insurance – New Policies Sold Through Bancassurance (Thousand),2011–2016Table 95: South Korean Life Insurance – Number of Bancassurance Distributors, 2007–2011Table 96: South Korean Life Insurance – Number of Bancassurance Distributors, 2011–2016Table 97: South Korean Life Insurance – Commission Paid to Agencies (KRW Billion), 2007–2011Table 98: South Korean Life Insurance – Commission Paid to Agencies (KRW Billion), 2011–2016Table 99: South Korean Life Insurance – New Business Written Premium Through Agencies(KRW Billion), 2007–2011Table 100: South Korean Life Insurance – New Business Written Premium Through Agencies(KRW Billion), 2011–2016Table 101: South Korean Life Insurance – New Policies Sold Through Agencies (Thousand),2007–2011Table 102: South Korean Life Insurance – New Policies Sold Through Agencies (Thousand),2011–2016Table 103: South Korean Life Insurance – Number of Agencies, 2007–2011Table 104: South Korean Life Insurance – Number of Agencies, 2011–2016Table 105: South Korean Life Insurance – E-Commerce Commission Paid (KRW Billion),2007–2011Table 106: South Korean Life Insurance – E-Commerce Commission Paid (KRW Billion),2011–2016Table 107: South Korean Life Insurance – New Business Written Premium Through E-Commerce(KRW Billion), 2007–2011Table 108: South Korean Life Insurance – New Business Written Premium Through E-Commerce(KRW Billion), 2011–2016Table 109: South Korean Life Insurance – New Policies Sold Through E-Commerce (Thousand),2007–2011Table 110: South Korean Life Insurance – New Policies Sold Through E-Commerce (Thousand),2011–2016Table 111: South Korean Life Insurance – Number of E-Commerce Distributors, 2007–2011Table 112: South Korean Life Insurance – Number of E-Commerce Distributors, 2011–2016Table 113: South Korean Life Insurance – Commission Paid to Brokers (KRW Billion), 2007–2011Table 114: South Korean Life Insurance – Commission Paid to Brokers (KRW Billion), 2011–2016Table 115: South Korean Life Insurance – New Business Written Premium Through Brokers (KRWBillion), 2007–2011Table 116: South Korean Life Insurance – New Business Written Premium Through Brokers (KRWBillion), 2011–2016Table 117: South Korean Life Insurance – New Policies Sold Through Brokers (Thousand),2007–2011Table 118: South Korean Life Insurance – New Policies Sold Through Brokers (Thousand),2011–2016Table 119: South Korean Life Insurance – Number of Brokers, 2007–2011Table 120: South Korean Life Insurance – Number of Brokers, 2011–2016
  11. 11. Table 121: South Korean Life Insurance – Commission Paid to Other Channels (KRW Billion),2007–2011Table 122: South Korean Life Insurance – Commission Paid to Other Channels (KRW Billion),2011–2016Table 123: South Korean Life Insurance – New Business Written Premium Through OtherChannels (KRW Billion), 2007–2011Table 124: South Korean Life Insurance – New Business Written Premium Through OtherChannels (KRW Billion), 2011–2016Table 125: South Korean Life Insurance – New Policies Sold Through Other Channels(Thousand), 2007–2011Table 126: South Korean Life Insurance – New Policies Sold Through Other Channels(Thousand), 2011–2016Table 127: South Korean Life Insurance – Number of Distributors in Other Channels, 2007–2011Table 128: South Korean Life Insurance – Number of Distributors in Other Channels, 2011–2016Table 129: Reinsurance Market in South Korea by Category (KRW Billion), 2007–2011Table 130: Reinsurance Market in South Korea by Category (US$ Billion), 2007–2011Table 131: Reinsurance Market in South Korea by Category (KRW Billion), 2011–2016Table 132: Reinsurance Market in South Korea by Category (US$ Billion), 2011–2016Table 133: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),2007–2011Table 134: South Korean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),2007–2011Table 135: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),2011–2016Table 136: South Korean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),2011–2016Table 137: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Table 138: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016Table 139: South Korean Life Insurance Market Share (%), 2007–2011Table 140: Samsung Life Insurance Co., Ltd. , Key FactsTable 141: Samsung Life Insurance Co., Ltd., Key Financials (KRW Million)Table 142: Kyobo Life Insurance Co., Ltd., Key FactsTable 143: Kyobo Life Insurance Co., Ltd., Key Financials (KRW Million)Table 144: Korea Life Insurance Co., Ltd., Key FactsTable 145: Korea Life Insurance Co., Ltd., Key Financials (KRW Million)Table 146: ING Life Insurance Company Korea, Ltd., Key FactsTable 147: ING Life Insurance Company Korea, Ltd., Key Financials (KRW Million)Table 148: Mirae Asset Life Insurance Co., Ltd., Key FactsTable 149: Mirae Asset Life Insurance Co., Ltd., Key Financials (KRW Million)Table 150: Shinhan Life Insurance Co., Ltd., Key FactsTable 151: Shinhan Life Insurance Co., Ltd., Key Financials (KRW Million)Table 152: Tong Yang Life Insurance Co. Ltd., Key Facts
  12. 12. Table 153: Tong Yang Life Insurance Co. Ltd., Key Financials (KRW Million)Table 154: Hungkuk Life Insurance Co., Ltd., Key FactsTable 155: Hungkuk Life Insurance Co., Ltd., Key Financials (KRW Million)Table 156: MetLife Insurance Co. of Korea Ltd., Key FactsTable 157: MetLife Insurance Co. of Korea Ltd., Key Financials (KRW Million)Table 158: Allianz Life Insurance Co. Ltd., Key FactsTable 159: Allianz Life Insurance Co. Ltd., Key Financials (KRW Million)List of FiguresFigure 1: South Korean Insurance Overall Written Premium by Segment (KRW Billion), 2007–2016Figure 2: South Korean Insurance Market Dynamics by Segment, 2007–2016Figure 3: South Korean Life Insurance Written Premium by Category (KRW Billion), 2007–2016Figure 4: South Korean Life Insurance Written Premium by Category (% Share), 2011 and 2016Figure 5: South Korean Life Insurance Market Dynamics by Category, 2007–2016Figure 6: South Korean Life Insurance – Earned Premium (KRW Billion), 2007–2011Figure 7: South Korean Life Insurance – Earned Premium (KRW Billion), 2011–2016Figure 8: South Korean Life Insurance – Sum Assured (KRW Trillion), 2007–2011Figure 9: South Korean Life Insurance – Sum Assured (KRW Trillion), 2011–2016Figure 10: South Korean Life Insurance – Paid Claims (KRW Billion), 2007–2011Figure 11: South Korean Life Insurance – Paid Claims (KRW Billion), 2011–2016Figure 12: South Korean Life Insurance – Incurred Loss (KRW Billion), 2007–2011Figure 13: South Korean Life Insurance – Incurred Loss (KRW Billion), 2011–2016Figure 14: South Korean Life Insurance – Loss Ratio (%), 2007–2011Figure 15: South Korean Life Insurance – Loss Ratio (%), 2011–2016Figure 16: South Korean Life Insurance – Commissions and Expenses (KRW Billion), 2007–2011Figure 17: South Korean Life Insurance – Commissions and Expenses (KRW Billion), 2011–2016Figure 18: South Korean Life Insurance – Combined Ratio (%), 2007–2011Figure 19: South Korean Life Insurance – Combined Ratio (%), 2011–2016Figure 20: South Korean Life Insurance – Frauds and Crimes (KRW Billion), 2007–2011Figure 21: South Korean Life Insurance – Frauds and Crimes (KRW Billion), 2011–2016Figure 22: South Korean Life Insurance – Total Assets (KRW Billion), 2007–2011Figure 23: South Korean Life Insurance – Total Assets (KRW Billion), 2011–2016Figure 24: South Korean Life Insurance – Total Investment Income (KRW Billion), 2007–2011Figure 25: South Korean Life Insurance – Total Investment Income (KRW Billion), 2011–2016Figure 26: South Korean Life Insurance – Retentions (KRW Billion), 2007–2011Figure 27: South Korean Life Insurance – Retentions (KRW Billion), 2011–2016Figure 28: South Korean Life Insurance – Investment Portfolio (KRW Billion), 2007–2011Figure 29: South Korean Life Insurance – Investment Portfolio, 2007 and 2011Figure 30: South Korean Life Insurance Penetration (% of GDP), 2007–2011Figure 31: South Korean Life Insurance Density (Number of Policies per Capita), 2007–2011Figure 32: South Korean Life Insurance – Number of Active Policies (Thousand), 2007–2011Figure 33: South Korean Life Insurance – Number of Active Policies (Thousand), 2011–2016Figure 34: South Korean Life Insurance – Premium Per-capita (LCU), 2007–2011
  13. 13. Figure 35: South Korean Individual Life Insurance Category – Number of Active Policies(Thousand), 2007–2011Figure 36: South Korean Individual Life Insurance Category – Number of Active Policies(Thousand), 2011–2016Figure 37: South Korean Individual Life Insurance Category – Written Premium (KRW Billion),2007–2011Figure 38: South Korean Individual Life Insurance Category – Written Premium (KRW Billion),2011–2016Figure 39: South Korean Individual General Annuity Category – Number of Active Policies(Thousand), 2007–2011Figure 40: South Korean Individual General Annuity Category – Number of Active Policies(Thousand), 2011–2016Figure 41: South Korean Individual General Annuity Category – Written Premium (KRW Billion),2007–2011Figure 42: South Korean Individual General Annuity Category – Written Premium (KRW Billion),2011–2016Figure 43: South Korean Individual Pension Category – Number of Active Policies (Thousand),2007–2011Figure 44: South Korean Individual Pension Category – Number of Active Policies (Thousand),2011–2016Figure 45: South Korean Individual Insurance Category – Written Premium (KRW Billion),2007–2011Figure 46: South Korean Individual Pension Category – Written Premium (KRW Billion),2011–2016Figure 47: South Korean Individual Endowment Category – Number of Active Policies (Thousand),2007–2011Figure 48: South Korean Individual Endowment Category – Number of Active Policies (Thousand),2011–2016Figure 49: South Korean Individual Endowment Category – Written Premium (KRW Billion),2007–2011Figure 50: South Korean Individual Endowment Category – Written Premium (KRW Billion),2011–2016Figure 51: South Korean Individual Unit-linked Insurance Sub-Category – Number of ActivePolicies (Thousand), 2007–2011Figure 52: South Korean Individual Unit-linked Insurance Sub-Category – Number of ActivePolicies (Thousand), 2011–2016Figure 53: South Korean Individual Unit-linked Insurance Sub-Category – Written Premium (KRWBillion), 2007–2011Figure 54: South Korean Individual Unit-linked Insurance Sub-Category – Written Premium (KRWBillion), 2011–2016Figure 55: South Korean Individual Others Category – Number of Active Policies (Thousand),2007–2011
  14. 14. Figure 56: South Korean Individual Others Category – Number of Active Policies (Thousand),2011–2016Figure 57: South Korean Individual Others Category – Written Premium (KRW Billion), 2007–2011Figure 58: South Korean Individual Others Category – Written Premium (KRW Billion), 2011–2016Figure 59: South Korean Group Life Insurance Category – Number of Active Policies (Thousand),2007–2011Figure 60: South Korean Group Life Insurance Category – Number of Active Policies (Thousand),2011–2016Figure 61: South Korean Group Life Insurance Category – Written Premium (KRW Billion),2007–2011Figure 62: South Korean Group Life Insurance Category – Written Premium (KRW Billion),2011–2016Figure 63: South Korean Group Superannuation Category – Number of Active Policies(Thousand), 2007–2011Figure 64: South Korean Group Superannuation Category – Number of Active Policies(Thousand), 2011–2016Figure 65: South Korean Group Superannuation Category – Written Premium (KRW Billion),2007–2011Figure 66: South Korean Group Superannuation Category – Written Premium (KRW Billion),2011–2016Figure 67: South Korean Individual Single Premium Category – Number of Active Policies(Thousand), 2007–2011Figure 68: South Korean Individual Single Premium Category – Number of Active Policies(Thousand), 2011–2016Figure 69: South Korean Individual Single Premium Category – Written Premium (KRW Billion),2007–2011Figure 70: South Korean Individual Single Premium Category – Written Premium (KRW Billion),2011–2016Figure 71: South Korean Individual Non-Single Premium Category – Number of Active Policies(Thousand), 2007–2011Figure 72: South Korean Individual Non-Single Premium Category – Number of Active Policies(Thousand), 2011–2016Figure 73: South Korean Individual Non-Single Premium Category – Written Premium (KRWBillion), 2007–2011Figure 74: South Korean Individual Non-Single Premium Category – Written Premium (KRWBillion), 2011–2016Figure 75: South Korean Group Single Premium Category – Number of Active Policies(Thousand), 2007–2011Figure 76: South Korean Group Single Premium Category – Number of Active Policies(Thousand), 2011–2016Figure 77: South Korean Group Single Premium Category – Written Premium (KRW Billion),2007–2011
  15. 15. Figure 78: South Korean Group Single Premium Category – Written Premium (KRW Billion),2011–2016Figure 79: South Korean Group Non-Single Premium Category – Number of Active Policies(Thousand), 2007–2011Figure 80: South Korean Group Non-Single Premium Category – Number of Active Policies(Thousand), 2011–2016Figure 81: South Korean Group Non-Single Premium Category – Written Premium (KRW Billion),2007–2011Figure 82: South Korean Group Non-Single Premium Category – Written Premium (KRW Billion),2011–2016Figure 83: South Korean Life Insurance New Business Written Premium by Distribution Channel(% Share), 2011 and 2016Figure 84: South Korean Life Insurance – Direct Marketing Commission Paid (KRW Billion),2007–2011Figure 85: South Korean Life Insurance – Direct Marketing Commission Paid (KRW Billion),2011–2016Figure 86: South Korean Life Insurance – New Business Written Premium Through DirectMarketing (KRW Billion), 2007–2011Figure 87: South Korean Life Insurance – New Business Written Premium Through DirectMarketing (KRW Billion), 2011–2016Figure 88: South Korean Life Insurance – New Policies Sold Through Direct Marketing(Thousand), 2007–2011Figure 89: South Korean Life Insurance – New Policies Sold Through Direct Marketing(Thousand), 2011–2016Figure 90: South Korean Life Insurance – Number of Direct Marketing Distributors, 2007–2011Figure 91: South Korean Life Insurance – Number of Direct Marketing Distributors, 2011–2016Figure 92: South Korean Life Insurance – Bancassurance Commission Paid (KRW Billion),2007–2011Figure 93: South Korean Life Insurance – Bancassurance Commission Paid (KRW Billion),2011–2016Figure 94: South Korean Life Insurance – New Business Written Premium ThroughBancassurance (KRW Billion), 2007–2011Figure 95: South Korean Life Insurance – New Business Written Premium ThroughBancassurance (KRW Billion), 2011–2016Figure 96: South Korean Life Insurance – New Policies Sold Through Bancassurance (Thousand),2007–2011Figure 97: South Korean Life Insurance – New Policies Sold Through Bancassurance (Thousand),2011–2016Figure 98: South Korean Life Insurance – Number of Bancassurance Distributors, 2007–2011Figure 99: South Korean Life Insurance – Number of Bancassurance Distributors, 2011–2016Figure 100: South Korean Life Insurance – Commission Paid to Agencies (KRW Billion),2007–2011
  16. 16. Figure 101: South Korean Life Insurance – Commission Paid to Agencies (KRW Billion),2011–2016Figure 102: South Korean Life Insurance – New Business Written Premium Through Agencies(KRW Billion), 2007–2011Figure 103: South Korean Life Insurance – New Business Written Premium Through Agencies(KRW Billion), 2011–2016Figure 104: South Korean Life Insurance – New Policies Sold Through Agencies (Thousand),2007–2011Figure 105: South Korean Life Insurance – New Policies Sold Through Agencies (Thousand),2011–2016Figure 106: South Korean Life Insurance – Number of Agencies, 2007–2011Figure 107: South Korean Life Insurance – Number of Agencies, 2011–2016Figure 108: South Korean Life Insurance – E-Commerce Commission Paid (KRW Billion),2007–2011Figure 109: South Korean Life Insurance – E-Commerce Commission Paid (KRW Billion),2011–2016Figure 110: South Korean Life Insurance – New Business Written Premium Through E-Commerce(KRW Billion), 2007–2011Figure 111: South Korean Life Insurance – New Business Written Premium Through E-Commerce(KRW Billion), 2011–2016Figure 112: South Korean Life Insurance – New Policies Sold Through E-Commerce (Thousand),2007–2011Figure 113: South Korean Life Insurance – New Policies Sold Through E-Commerce (Thousand),2011–2016Figure 114: South Korean Life Insurance – Number of E-Commerce Distributors, 2007–2011Figure 115: South Korean Life Insurance – Number of E-Commerce Distributors, 2011–2016Figure 116: South Korean Life Insurance – Commission Paid to Brokers (KRW Billion), 2007–2011Figure 117: South Korean Life Insurance – Commission Paid to Brokers (KRW Billion), 2011–2016Figure 118: South Korean Life Insurance – New Business Written Premium Through Brokers(KRW Billion), 2007–2011Figure 119: South Korean Life Insurance – New Business Written Premium Through Brokers(KRW Billion), 2011–2016Figure 120: South Korean Life Insurance – New Policies Sold Through Brokers (Thousand),2007–2011Figure 121: South Korean Life Insurance – New Policies Sold Through Brokers (Thousand),2011–2016Figure 122: South Korean Life Insurance – Number of Brokers, 2007–2011Figure 123: South Korean Life Insurance – Number of Brokers, 2011–2016Figure 124: South Korean Life Insurance – Commission Paid to Other Channels (KRW Billion),2007–2011Figure 125: South Korean Life Insurance – Commission Paid to Other Channels (KRW Billion),2011–2016
  17. 17. Figure 126: South Korean Life Insurance – New Business Written Premium Through OtherChannels (KRW Billion), 2007–2011Figure 127: South Korean Life Insurance – New Business Written Premium Through OtherChannels (KRW Billion), 2011–2016Figure 128: South Korean Life Insurance – New Policies Sold Through Other Channels(Thousand), 2007–2011Figure 129: South Korean Life Insurance – New Policies Sold Through Other Channels(Thousand), 2011–2016Figure 130: South Korean Life Insurance – Number of Distributors in Other Channels, 2007–2011Figure 131: South Korean Life Insurance – Number of Distributors in Other Channels, 2011–2016Figure 132: South Korean Life Insurance – Porter’s Five Forces AnalysisFigure 133: South Korean Premium Ceded to Reinsurance by Category (KRW Billion), 2007–2016Figure 134: South Korean Premium Ceded to Reinsurance by Category (% Share), 2011 and2016Figure 135: South Korean Reinsurance Market Dynamics by Category, 2007–2016Figure 136: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),2007–2016Figure 137: South Korean Reinsurance Market Dynamics by Type of Insurance, 2007–2016Figure 138: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Figure 139: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016Figure 140: South Korean Life Insurance Market Share (%), 2007 and 2011Figure 141: South Korean Five Leading Life Insurers — Gross Written Premium (KRW Million),2011Figure 142: South Korean Five Leading Life Insurers — Outwards Reinsurance Expense (KRWMillion), 2011Figure 143: South Korean Five Leading Life Insurers — Gross Claims (KRW Million), 2011Figure 144: South Korean Five Leading Life Insurers — Paid Claims (KRW Million), 2011Figure 145: South Korean Five Leading Life Insurers — Pre-Tax Profit/Loss (KRW Million), 2011Figure 146: South Korean Five Leading Life Insurers — Total Assets (KRW Million), 2011Figure 147: South Korean Five Leading Life Insurers — Total Assets (KRW Million), 2011Figure 148: South Korea Business Confidence Indicator, Q1 2008–Q2 2012Figure 149: Korea Exchange Market Capitalization (US$ Billion), 2007–2011Figure 150: FDI Inflows by Sector (US$ Billion), 2007–2011Figure 151: South Korean GDP at Constant Prices (US$ Billion), 2007–2011Figure 152: South Korean GDP Per Capita at Constant Prices (US$), 2007–2011Figure 153: South Korean GDP at Current Prices (US$ Billion), 2007–2011Figure 154: South Korean GDP Per Capita at Current Prices (US$), 2007–2011Figure 155: South Korean GDP by Key Segments (%) 2009 and 2011Figure 156: South Korean Agricultural Net Output at Current Prices (KRW Billion), 2007–2011Figure 157: South Korean Agricultural Net Output at Current Prices (US$ Billion), 2007–2011Figure 158: South Korean Agricultural Net Output at Current Prices as a Percentage of GDP (%),2007–2011
  18. 18. Figure 159: South Korean Manufacturing Net Output at Current Prices (KRW Billion), 2007–2011Figure 160: South Korean Manufacturing Net Output at Current Prices (US$ Billion), 2007–2011Figure 161: South Korean Manufacturing Net Output at Current Prices as a Percentage of GDP(%), 2007–2011Figure 162: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices (KRWBillion), 2007–2011Figure 163: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices (US$Billion), 2007–2011Figure 164: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices as aPercentage of GDP (%), 2007–2011Figure 165: South Korean Construction Net Output at Current Prices (KRW Billion), 2007–2011Figure 166: South Korean Construction Net Output at Current Prices (US$ Billion), 2007–2011Figure 167: South Korean Construction Net Output at Current Prices as a Percentage of GDP (%),2007–2011Figure 168: South Korean Inflation Rate (%), 2007–2011Figure 169: South Korean Current Account Balance as a Percentage of GDP(%), 2007–2011Figure 170: South Korean Exports as a Percentage of GDP (%), 2007–2011Figure 171: South Korean Imports as a Percentage of GDP (%), 2007–2011Figure 172: South Korean Exports Growth (%), 2007–2011Figure 173: South Korean Imports Growth (%), 2007–2011Figure 174: External debt as a Percentage of GDP (%), 2007–2011Figure 175: South Korean Annual Average Exchange Rate US$–KRW, 2007–2011Figure 176: South Korean End-of-Period Exchange Rate US$–KRW, 2007–2011Figure 177: Total Number of South Korea Airports and Sea Ports, 2011Figure 178: South Korean Railways and Roadways (Kilometers), 2011Figure 179: South Korean Passenger Vehicle Production, 2007–2011Figure 180: South Korean Commercial Vehicle Production, 2007–2011Figure 181: South Korean Automotive Component Exports (US$ Billion), 2007–2011Figure 182: South Korean Automotive Component Imports (US$ Billion), 2007–2011Figure 183: South Korean Passenger Car Penetration (per thousand people), 2007–2011Figure 184: South Korean Healthcare Expenditure (US$ Billion), 2007–2011Figure 185: South Korean Healthcare Expenditure as a Percentage of GDP (%), 2007–2011Figure 186: South Korean Per Capita Healthcare Expenditure (US$), 2007–2011Figure 187: South Korean Internet Subscriptions (Millions), 2007–2011Figure 188: South Korean Size of Labor Force in 15–59 Age Group (Million), 2007–2011Figure 189: South Korean Unemployment Rate (%), 2007–2011Figure 190: South Korean Annual Disposable Income (US$ Billion), 2007–2011Figure 191: South Korean Annual Per Capita Disposable Income (US$), 2007–2011Figure 192: South Korean Total Population (Million), 2007–2011Figure 193: South Korean Urban and Rural Population (%), 2007–2011Figure 194: South Korean Female as Percentage of Population (%), 2007–2011Figure 195: South Korean Male as Percentage of Population (%), 2007–2011
  19. 19. Figure 196: South Korean Mean Age of Population (Year), 2007–2011Figure 197: South Korean Median Age of Population (Year), 2007–2011Figure 198: South Korean Population Density (per Square Kilometer), 2007–2011Figure 199: South Korean Population Distribution by Age (%), 2007–2011Figure 200: South Korean Male Population Distribution by Age (%), 2007–2011Figure 201: South Korean Female Population Distribution by Age (%), 2007–2011Figure 202: South Korean Households, Number of (Million), 2007–2011Figure 203: Global Terrorism Heat Map, 2011Figure 204: South Korean Transparency Index, 2007–2011Contact: sales@reportsandreports.com for more information.

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