Non-Life Insurance in South Korea, Key Trends and
Opportunities to 2016
Report Details:
Published:September 2012
No. of Pages: 265
Price: Single User License – US$1950
Synopsis
The report provides in depth market analysis, information and insights into the South Korean non-
life insurance market, including:
•The South Korean non-life insurance market’s growth prospects by non-life insurance categories
•The various distribution channels in the South Korean non-life insurance market
•The competitive landscape in the non-life insurance market in South Korea
•A description of the non-life reinsurance market in South Korea
Executive summary
The growth in the South Korean non-life insurance segment was primarily driven by the growing
industrial and commercial construction markets, rising automobile sales and positive economic
outlook in the country. Growth in the market over the forecast period will be driven by the
development of large-scale transport and other infrastructure projects undertaken by the South
Korean government, rising consumer awareness about the benefits of non-life insurance products
and expansion of distribution channels across the country.
Scope
•This report provides a comprehensive analysis of the non-life insurance market in South Korea:
•It provides historical values for South Korea’s non-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 South Korea’s non-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 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 business
•It provides a detailed analysis of the reinsurance market 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

Key highlights
•The growth of the non-life insurance segment will be primarily driven by sales of motor and
property insurance.
•The written premium for motor insurance is expected to increase over the forecast period,
primarily due to an increase in automobile sales and new car registrations as a result of the
strong economic recovery.
•Furthermore, the growth in the property insurance category, the second largest category in the
non-life insurance segment, is expected to be driven by several major construction and
infrastructure projects due to be carried out in the country over the forecast period.
•Over the forecast period, agencies are expected to continue to be the dominant distribution
channel, as non-life insurance companies continue to develop qualified teams of insurance
professionals and agents.
•Numerous changes in the South Korean regulatory environment took place in the past decade,
primarily to increase insurance companies’ accountability and policy compliance with international
standards.
Reasons to buy
•Make strategic business decisions using in depth historic and forecast market data related to the
South Korean non-life insurance market and each sector within it
•Understand the demand-side dynamics, key market trends and growth opportunities within the
South Korean non-life insurance market
•Assess the competitive dynamics in the non-life insurance market, along with the reinsurance
segment
•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
Get your copy of this report @
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to-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
4 Non-Life Insurance Segment Outlook
4.1 Non-Life Insurance Growth Prospects by Category
4.2 Property Insurance Category
4.2.1 Fire and allied perils insurance sub-category
4.2.2 Engineering insurance sub-category
4.2.3 Agriculture insurance sub-category
4.2.4 Other property sub-category
4.3 Motor Insurance Category
4.3.1 Motor hull sub-category
4.3.2 Motor third-party sub-category
4.4 General Third-Party Category
4.5 Marine, Aviation and Transit Category
4.5.1 Marine sub-category
4.5.2 Marine hull sub-category
4.5.3 Marine third-party sub-category
4.5.4 Aviation sub-category
4.5.5 Transit sub-category
5 Analysis by Distribution Channels
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 Non-Life Insurance
7.1 Bargaining Power of Supplier: Medium to High
7.2 Bargaining Power of Buyer: Low to Medium
7.3 Barriers to Entry: Medium
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 Non-Life Insurance Segment
9.3 Comparison of Top Five Insurers
9.3.1 Gross written premium
9.3.2 Outwards reinsurance expense
9.3.3 Net earned premiums

9.3.4 Paid claims
9.3.5 Pre-tax profit/loss
9.3.6 Total assets
9.3.7 Total investment income
9.4 Samsung Fire & Marine Insurance Co., Ltd – Company Overview
9.4.1 Samsung Fire & Marine Insurance Co., Ltd – key facts
9.4.2 Samsung Fire & Marine Insurance Co., Ltd – key financials
9.5 Hyundai Marine & Fire Insurance Co., Ltd – Company Overview
9.5.1 Hyundai Marine & Fire Insurance Co., Ltd – key facts
9.5.2 Hyundai Marine & Fire Insurance Co., Ltd – key financials
9.6 Dongbu Insurance Co., Ltd – Company Overview
9.6.1 Dongbu Insurance Co., Ltd – key facts
9.6.2 Dongbu Insurance Co., Ltd – key financials
9.7 LIG Insurance Co., Ltd – Company Overview
9.7.1 LIG Insurance Co., Ltd – key facts
9.7.2 LIG Insurance Co., Ltd – key financials
9.8 Meritz Fire & Marine Insurance Co., Ltd – Company Overview
9.8.1 Meritz Fire & Marine Insurance Co., Ltd – key facts
9.8.2 Meritz Fire & Marine Insurance Co., Ltd – key financials
9.9 Hanwha Non-Life Insurance Co., Ltd – Company Overview
9.9.1 Hanwha Non-Life Insurance Co., Ltd – key facts
9.1 Heungkuk Fire and Marine Insurance Co., Ltd – Company Overview
9.10.1 Heungkuk Fire and Marine Insurance Co., Ltd – key facts
9.11 Lotte Non-Life Insurance Co., Ltd – Company Overview
9.11.1 Lotte Non-Life Insurance Co., Ltd – key facts
9.12 Green Non-Life Insurance Co., Ltd – Company Overview
9.12.1 Green Non-Life Insurance Co., Ltd – key facts
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
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
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 Non-Life Insurance Written Premium by Category (KRW Billion),
2007–2011
Table 8: South Korean Non-Life Insurance Written Premium by Category (US$ Billion), 2007–2011
Table 9: South Korean Non-Life Insurance Written Premium by Category (KRW Billion),
2011–2016
Table 10: South Korean Non-Life Insurance Written Premium by Category (US$ Billion),
2011–2016
Table 11: South Korean Non-Life Insurance – Earned Premium (KRW Billion), 2007–2011
Table 12: South Korean Non-Life Insurance – Earned Premium (KRW Billion), 2011–2016
Table 13: South Korean Non-Life Insurance – Paid Claims by Category (KRW Billion), 2007–2011
Table 14: South Korean Non-Life Insurance – Paid Claims by Category (US$ Billion), 2007–2011
Table 15: South Korean Non-Life Insurance – Paid Claims by Category (KRW Billion), 2011–2016
Table 16: South Korean Non-Life Insurance – Paid Claims by Category (US$ Billion), 2011–2016
Table 17: South Korean Non-Life Insurance – Incurred Loss by Category (KRW Billion),
2007–2011
Table 18: South Korean Non-Life Insurance – Incurred Loss by Category (US$ Billion), 2007–2011
Table 19: South Korean Non-Life Insurance – Incurred Loss by Category (KRW Billion),
2011–2016
Table 20: South Korean Non-Life Insurance – Incurred Loss by Category (US$ Billion), 2011–2016
Table 21: South Korean Non-Life Insurance – Loss Ratio (%), 2007–2011
Table 22: South Korean Non-Life Insurance – Loss Ratio (%), 2011–2016
Table 23: South Korean Non-Life Insurance – Commission and Expenses (KRW Billion),

2007–2011
Table 24: South Korean Non-Life Insurance – Commission and Expenses (KRW Billion),
2011–2016
Table 25: South Korean Non-Life Insurance – Combined Ratio (%), 2007–2011
Table 26: South Korean Non-Life Insurance – Combined Ratio (%), 2011–2016
Table 27: South Korean Non-Life Insurance – Frauds and Crimes (KRW Billion), 2007–2011
Table 28: South Korean Non-Life Insurance – Frauds and Crimes (KRW Billion), 2011–2016
Table 29: South Korean Non-Life Insurance – Total Assets (KRW Billion), 2007–2011
Table 30: South Korean Non-Life Insurance – Total Assets (KRW Billion), 2011–2016
Table 31: South Korean Non-Life Insurance – Total Investment Income (KRW Billion), 2007–2011
Table 32: South Korean Non-Life Insurance – Total Investment Income (KRW Billion), 2011–2016
Table 33: South Korean Non-Life Insurance – Retentions (KRW Billion), 2007–2011
Table 34: South Korean Non-Life Insurance – Retentions (KRW Billion), 2011–2016
Table 35: South Korean Property Insurance Written Premium by Sub-Category (KRW Billion),
2007–2011
Table 36: South Korean Property Insurance Written Premium by Sub-Category (US$ Billion),
2007–2011
Table 37: South Korean Property Insurance Written Premium by Sub-Category (KRW Billion),
2011–2016
Table 38: South Korean Property Insurance Written Premium by Sub-Category (US$ Billion),
2011–2016
Table 39: South Korean Property Insurance Category – Loss Ratio (%), 2007–2011
Table 40: South Korean Property Insurance Category – Loss Ratio (%), 2011–2016
Table 41: South Korean Fire and Allied Perils Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Table 42: South Korean Fire and Allied Perils Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Table 43: South Korean Fire and Allied Perils Insurance Sub-Category – Written Premium (KRW
Billion), 2007–2011
Table 44: South Korean Fire and Allied Perils Insurance Sub-Category – Written Premium (KRW
Billion), 2011–2016
Table 45: South Korean Engineering Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Table 46: South Korean Engineering Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Table 47: South Korean Engineering Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Table 48: South Korean Engineering Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Table 49: South Korean Agriculture Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Table 50: South Korean Agriculture Insurance Sub-Category – Number of Policies Sold

(Thousand), 2011–2016
Table 51: South Korean Agriculture Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Table 52: South Korean Agriculture Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Table 53: South Korean Other Property Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Table 54: South Korean Other Property Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Table 55: South Korean Other Property Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Table 56: South Korean Other Property Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Table 57: South Korean Motor Insurance Written Premium by Sub-Category (KRW Billion),
2007–2011
Table 58: South Korean Motor Insurance Written Premium by Sub-Category (US$ Billion),
2007–2011
Table 59: South Korean Motor Insurance Written Premium by Sub-Category (KRW Billion),
2011–2016
Table 60: South Korean Motor Insurance Written Premium by Sub-Category (US$ Billion),
2011–2016
Table 61: South Korean Motor Insurance Category – Loss Ratio (%), 2007–2011
Table 62: South Korean Motor Insurance Category – Loss Ratio (%), 2011–2016
Table 63: South Korean Motor Hull Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Table 64: South Korean Motor Hull Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Table 65: South Korean Motor Hull Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Table 66: South Korean Motor Hull Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Table 67: South Korean Motor Third-Party Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Table 68: South Korean Motor Third-Party Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Table 69: South Korean Motor Third-Party Insurance Sub-Category – Written Premium (KRW
Billion), 2007–2011
Table 70: South Korean Motor Third-Party Insurance Sub-Category – Written Premium (KRW
Billion), 2011–2016
Table 71: South Korean General Third-Party Insurance Category – Number of Policies Sold
(Thousand), 2007–2011
Table 72: South Korean General Third-Party Insurance Category – Number of Policies Sold

(Thousand), 2011–2016
Table 73: South Korean General Third-Party Insurance Category by Written Premium (KRW
Billion), 2007–2011
Table 74: South Korean General Third-Party Insurance Category by Written Premium (KRW
Billion), 2011–2016
Table 75: South Korean General Third-Party Insurance Category – Loss Ratio (%), 2007–2011
Table 76: South Korean General Third-Party Insurance Category – Loss Ratio (%), 2011–2016
Table 77: South Korean Marine, Aviation and Transit Insurance Written Premium by Sub-Category
(KRW Billion), 2007–2011
Table 78: South Korean Marine, Aviation and Transit Insurance Written Premium by Sub-Category
(US$ Billion), 2007–2011
Table 79: South Korean Marine, Aviation and Transit Insurance Written Premium by Sub-Category
(KRW Billion), 2011–2016
Table 80: South Korean Marine, Aviation and Transit Insurance Written Premium by Sub-Category
(US$ Billion), 2011–2016
Table 81: South Korean Marine, Aviation and Transit Insurance Category – Loss Ratio (%),
2007–2011
Table 82: South Korean Marine, Aviation and Transit Insurance Category – Loss Ratio (%),
2011–2016
Table 83: South Korean Marine Insurance Written Premium by Sub-Category (KRW Billion),
2007–2011
Table 84: South Korean Marine Insurance Written Premium by Sub-Category (US$ Billion),
2007–2011
Table 85: South Korean Marine Insurance Written Premium by Sub-Category (KRW Billion),
2011–2016
Table 86: South Korean Marine Insurance Written Premium by Sub-Category (US$ Billion),
2011–2016
Table 87: South Korean Marine Hull Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Table 88: South Korean Marine Hull Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Table 89: South Korean Marine Hull Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Table 90: South Korean Marine Hull Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Table 91: South Korean Marine Third-Party Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Table 92: South Korean Marine Third-Party Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Table 93: South Korean Marine Third-Party Insurance Sub-Category – Written Premium (KRW
Billion), 2007–2011
Table 94: South Korean Marine Third-Party Insurance Sub-Category – Written Premium (KRW

Billion), 2011–2016
Table 95: South Korean Aviation Insurance Sub-Category – Number of Policies Sold (Thousand),
2007–2011
Table 96: South Korean Aviation Insurance Sub-Category – Number of Policies Sold (Thousand),
2011–2016
Table 97: South Korean Aviation Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Table 98: South Korean Aviation Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Table 99: South Korean Transit Insurance Sub-Category – Number of Policies Sold (Thousand),
2007–2011
Table 100: South Korean Transit Insurance Sub-Category – Number of Policies Sold (Thousand),
2011–2016
Table 101: South Korean Transit Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Table 102: South Korean Transit Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Table 103: South Korean Non-Life Insurance – Direct Marketing Commission Paid (KRW Billion),
2007–2011
Table 104: South Korean Non-Life Insurance – Direct Marketing Commission Paid (KRW Billion),
2011–2016
Table 105: South Korean Non-Life Insurance – Written Premium Through Direct Marketing (KRW
Billion), 2007–2011
Table 106: South Korean Non-Life Insurance – Written Premium Through Direct Marketing (KRW
Billion), 2011–2016
Table 107: South Korean Non-Life Insurance – Policies Sold Through Direct Marketing
(Thousand), 2007–2011
Table 108: South Korean Non-Life Insurance – Policies Sold Through Direct Marketing
(Thousand), 2011–2016
Table 109: South Korean Non-Life Insurance – Number of Direct Marketing Distributors,
2007–2011
Table 110: South Korean Non-Life Insurance – Number of Direct Marketing Distributors,
2011–2016
Table 111: South Korean Non-Life Insurance – Bancassurance Commission Paid (KRW Billion),
2007–2011
Table 112: South Korean Non-Life Insurance – Bancassurance Commission Paid (KRW Billion),
2011–2016
Table 113: South Korean Non-Life Insurance – Written Premium Through Bancassurance (KRW
Billion), 2007–2011
Table 114: South Korean Non-Life Insurance – Written Premium Through Bancassurance (KRW
Billion), 2011–2016
Table 115: South Korean Non-Life Insurance – Policies Sold Through Bancassurance (Thousand),

2007–2011
Table 116: South Korean Non-Life Insurance – Policies Sold Through Bancassurance (Thousand),
2011–2016
Table 117: South Korean Non-Life Insurance – Number of Bancassurance Distributors,
2007–2011
Table 118: South Korean Non-Life Insurance – Number of Bancassurance Distributors,
2011–2016
Table 119: South Korean Non-Life Insurance – Commission Paid to Agencies (KRW Billion),
2007–2011
Table 120: South Korean Non-Life Insurance – Commission Paid to Agencies (KRW Billion),
2011–2016
Table 121: South Korean Non-Life Insurance – Written Premium Through Agencies (KRW Billion),
2007–2011
Table 122: South Korean Non-Life Insurance – Written Premium Through Agencies (KRW Billion),
2011–2016
Table 123: South Korean Non-Life Insurance – Policies Sold Through Agencies (Thousand),
2007–2011
Table 124: South Korean Non-Life Insurance – Policies Sold Through Agencies (Thousand),
2011–2016
Table 125: South Korean Non-Life Insurance – Number of Agencies, 2007–2011
Table 126: South Korean Non-Life Insurance – Number of Agencies, 2011–2016
Table 127: South Korean Non-Life Insurance – E-Commerce Commission Paid (KRW Billion),
2007–2011
Table 128: South Korean Non-Life Insurance – E-Commerce Commission Paid (KRW Billion),
2011–2016
Table 129: South Korean Non-Life Insurance – Written Premium Through E-Commerce (KRW
Billion), 2007–2011
Table 130: South Korean Non-Life Insurance – Written Premium Through E-Commerce (KRW
Billion), 2011–2016
Table 131: South Korean Non-Life Insurance – Policies Sold Through E-Commerce (Thousand),
2007–2011
Table 132: South Korean Non-Life Insurance – Policies Sold Through E-Commerce (Thousand),
2011–2016
Table 133: South Korean Non-Life Insurance – Number of E-Commerce Distributors, 2007–2011
Table 134: South Korean Non-Life Insurance – Number of E-Commerce Distributors, 2011–2016
Table 135: South Korean Non-Life Insurance – Commission Paid to Brokers (KRW Billion),
2007–2011
Table 136: South Korean Non-Life Insurance – Commission Paid to Brokers (KRW Billion),
2011–2016
Table 137: South Korean Non-Life Insurance – Written Premium Through Brokers (KRW Billion),
2007–2011
Table 138: South Korean Non-Life Insurance – Written Premium Through Brokers (KRW Billion),

2011–2016
Table 139: South Korean Non-Life Insurance – Policies Sold Through Brokers (Thousand),
2007–2011
Table 140: South Korean Non-Life Insurance – Policies Sold Through Brokers (Thousand),
2011–2016
Table 141: South Korean Non-Life Insurance – Number of Brokers, 2007–2011
Table 142: South Korean Non-Life Insurance – Number of Brokers, 2011–2016
Table 143: South Korean Non-Life Insurance – Commission Paid to Other Channels (KRW
Billion), 2007–2011
Table 144: South Korean Non-Life Insurance – Commission Paid to Other Channels (KRW
Billion), 2011–2016
Table 145: South Korean Non-Life Insurance – Written Premium Through Other Channels (KRW
Billion), 2007–2011
Table 146: South Korean Non-Life Insurance – Written Premium Through Other Channels (KRW
Billion), 2011–2016
Table 147: South Korean Non-Life Insurance – Policies Sold Through Other Channels
(Thousand), 2007–2011
Table 148: South Korean Non-Life Insurance – Policies Sold Through Other Channels
(Thousand), 2011–2016
Table 149: South Korean Non-Life Insurance – Number of Distributors in Other Channels,
2007–2011
Table 150: South Korean Non-Life Insurance – Number of Distributors in Other Channels,
2011–2016
Table 151: Reinsurance Market in South Korea by Category (KRW Billion), 2007–2011
Table 152: Reinsurance Market in South Korea by Category (US$ Billion), 2007–2011
Table 153: Reinsurance Market in South Korea by Category (KRW Billion), 2011–2016
Table 154: Reinsurance Market in South Korea by Category (US$ Billion), 2011–2016
Table 155: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),
2007–2011
Table 156: South Korean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),
2007–2011
Table 157: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),
2011–2016
Table 158: South Korean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),
2011–2016
Table 159: South Korean Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Table 160: South Korean Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Table 161: South Korean Non-Life Insurance Market Share (%), 2007–2010
Table 162: Samsung Fire & Marine Insurance Co., Ltd, Key Facts
Table 163: Samsung Fire & Marine Insurance Co., Ltd, Key Financials (KRW Million)
Table 164: Hyundai Marine & Fire Insurance Co., Ltd, Key Facts
Table 165: Hyundai Marine & Fire Insurance Co., Ltd, Key Financials (KRW Million)

Table 166: Dongbu Insurance Co., Ltd, Key Facts
Table 167: Dongbu Insurance Co., Ltd, Key Financials (KRW Million)
Table 168: LIG Insurance Co., Ltd, Key Facts
Table 169: LIG Insurance Co., Ltd, Key Financials (KRW Million)
Table 170: Meritz Fire & Marine Insurance Co., Ltd, Key Facts
Table 171: Meritz Fire & Marine Insurance Co., Ltd, Key Financials (KRW Million)
Table 172: Hanwha Non-Life Insurance Co., Ltd, Key Facts
Table 173: Heungkuk Fire and Marine Insurance Co., Ltd., Key Facts
Table 174: Lotte Non-Life Insurance Co., Ltd, Key Facts
Table 175: Green Non-Life Insurance Co., Ltd, Key Facts
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 Non-Life Insurance Written Premium by Category (KRW Billion),
2007–2016
Figure 4: South Korean Non-Life Insurance Written Premium by Category (% Share), 2011 and
2016
Figure 5: South Korean Non-Life Insurance Market Dynamics by Category, 2007–2016
Figure 6: South Korean Non-Life Insurance – Earned Premium (KRW Billion), 2007–2011
Figure 7: South Korean Non-Life Insurance – Earned Premium (KRW Billion), 2011–2016
Figure 8: South Korean Non-Life Insurance – Paid Claims by Category (KRW Billion), 2007–2016
Figure 9: South Korean Non-Life Insurance – Incurred Loss by Category (KRW Billion),
2007–2016
Figure 10: South Korean Non-Life Insurance – Loss Ratio (%), 2007–2011
Figure 11: South Korean Non-Life Insurance – Loss Ratio (%), 2011–2016
Figure 12: South Korean Non-Life Insurance – Commission and Expenses (KRW Billion),
2007–2011
Figure 13: South Korean Non-Life Insurance – Commission and Expenses (KRW Billion),
2011–2016
Figure 14: South Korean Non-Life Insurance – Combined Ratio (%), 2007–2011
Figure 15: South Korean Non-Life Insurance – Combined Ratio (%), 2011–2016
Figure 16: South Korean Non-Life Insurance – Frauds and Crimes (KRW Billion), 2007–2011
Figure 17: South Korean Non-Life Insurance – Frauds and Crimes (KRW Billion), 2011–2016
Figure 18: South Korean Non-Life Insurance – Total Assets (KRW Billion), 2007–2011
Figure 19: South Korean Non-Life Insurance – Total Assets (KRW Billion), 2011–2016
Figure 20: South Korean Non-Life Insurance – Total Investment Income (KRW Billion), 2007–2011
Figure 21: South Korean Non-Life Insurance – Total Investment Income (KRW Billion), 2011–2016
Figure 22: South Korean Non-Life Insurance – Retentions (KRW Billion), 2007–2011
Figure 23: South Korean Non-Life Insurance – Retentions (KRW Billion), 2011–2016
Figure 24: South Korean Non-Life Insurance – Investment Portfolio (KRW Billion), 2007–2011
Figure 25: South Korean Non-Life Insurance – Investment Portfolio (% Share), 2007 and 2011
Figure 26: South Korean Non-Life Insurance Penetration (% of GDP), 2007–2011

Figure 27: South Korean Non-Life Insurance – Number of Policies Sold (Thousand), 2007–2011
Figure 28: South Korean Non-Life Insurance – Number of Policies Sold (Thousand), 2011–2016
Figure 29: South Korean Non-Life Insurance – Premium Per Capita (KRW), 2007–2011
Figure 30: South Korean Property Insurance Written Premium (KRW Billion) by Sub-Category,
2007–2016
Figure 31: South Korean Property Insurance Market Dynamics by Sub-Category, 2007–2016
Figure 32: South Korean Property Insurance Category – Loss Ratio (%), 2007–2011
Figure 33: South Korean Property Insurance Category – Loss Ratio (%), 2011–2016
Figure 34: South Korean Fire and Allied Perils Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Figure 35: South Korean Fire and Allied Perils Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Figure 36: South Korean Fire and Allied Perils Insurance Sub-Category – Written Premium (KRW
Billion), 2007–2011
Figure 37: South Korean Fire and Allied Perils Insurance Sub-Category – Written Premium (KRW
Billion), 2011–2016
Figure 38: South Korean Engineering Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Figure 39: South Korean Engineering Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Figure 40: South Korean Engineering Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Figure 41: South Korean Engineering Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Figure 42: South Korean Agriculture Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Figure 43: South Korean Agriculture Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Figure 44: South Korean Agriculture Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Figure 45: South Korean Agriculture Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Figure 46: South Korean Other Property Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Figure 47: South Korean Other Property Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Figure 48: South Korean Other Property Insurance Sub-Category – Written Premium (KRW
Billion), 2007–2011
Figure 49: South Korean Other Property Insurance Sub-Category – Written Premium (KRW
Billion), 2011–2016
Figure 50: South Korean Motor Insurance Written Premium and by Sub-Category (KRW Billion),
2007–2016

Figure 51: South Korean Motor Insurance Market Dynamics by Sub-Category, 2007–2016
Figure 52: South Korean Motor Insurance Category – Loss Ratio (%), 2007–2011
Figure 53: South Korean Motor Insurance Category – Loss Ratio (%), 2011–2016
Figure 54: South Korean Motor Hull Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Figure 55: South Korean Motor Hull Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Figure 56: South Korean Motor Hull Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Figure 57: South Korean Motor Hull Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Figure 58: South Korean Motor Third-Party Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Figure 59: South Korean Motor Third-Party Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Figure 60: South Korean Motor Third-Party Insurance Sub-Category – Written Premium (KRW
Billion), 2007–2011
Figure 61: South Korean Motor Third-Party Insurance Sub-Category – Written Premium (KRW
Billion), 2011–2016
Figure 62: South Korean General Third-Party Insurance Category – Number of Policies Sold
(Thousand), 2007–2011
Figure 63: South Korean General Third-Party Insurance Category – Number of Policies Sold
(Thousand), 2011–2016
Figure 64: South Korean General Third-Party Insurance Category by Written Premium (KRW
Billion), 2007–2011
Figure 65: South Korean General Third-Party Insurance Category by Written Premium (KRW
Billion), 2011–2016
Figure 66: South Korean General Third-Party Insurance Category – Loss Ratio (%), 2007–2011
Figure 67: South Korean General Third-Party Insurance Category – Loss Ratio (%), 2011–2016
Figure 68: South Korean Marine, Aviation and Transit Insurance Written Premium (KRW Billion) by
Sub-Category, 2007–2016
Figure 69: South Korean Marine, Aviation and Transit Insurance Market Dynamics by Sub-
Category, 2007–2016
Figure 70: South Korean Marine, Aviation and Transit Insurance Category – Loss Ratio (%),
2007–2011
Figure 71: South Korean Marine, Aviation and Transit Insurance Category – Loss Ratio (%),
2011–2016
Figure 72: South Korean Marine Insurance Written Premium by Sub-Category (KRW Billion),
2007–2016
Figure 73: South Korean Marine Insurance Market Dynamics by Sub-Category, 2007–2016
Figure 74: South Korean Marine Hull Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011

Figure 75: South Korean Marine Hull Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Figure 76: South Korean Marine Hull Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Figure 77: South Korean Marine Hull Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Figure 78: South Korean Marine Third-Party Insurance Sub-Category – Number of Policies Sold
(Thousand), 2007–2011
Figure 79: South Korean Marine Third-Party Insurance Sub-Category – Number of Policies Sold
(Thousand), 2011–2016
Figure 80: South Korean Marine Third-Party Insurance Sub-Category – Written Premium (KRW
Billion), 2007–2011
Figure 81: South Korean Marine Third-Party Insurance Sub-Category – Written Premium (KRW
Billion), 2011–2016
Figure 82: South Korean Aviation Insurance Sub-Category – Number of Policies Sold (Thousand),
2007–2011
Figure 83: South Korean Aviation Insurance Sub-Category – Number of Policies Sold (Thousand),
2011–2016
Figure 84: South Korean Aviation Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Figure 85: South Korean Aviation Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Figure 86: South Korean Transit Insurance Sub-Category – Number of Policies Sold (Thousand),
2007–2011
Figure 87: South Korean Transit Insurance Sub-Category – Number of Policies Sold (Thousand),
2011–2016
Figure 88: South Korean Transit Insurance Sub-Category – Written Premium (KRW Billion),
2007–2011
Figure 89: South Korean Transit Insurance Sub-Category – Written Premium (KRW Billion),
2011–2016
Figure 90: South Korean Non-Life Insurance Written Premium by Distribution Channel (% Share),
2011 and 2016
Figure 91: South Korean Non-Life Insurance – Direct Marketing Commission Paid (KRW Billion),
2007–2011
Figure 92: South Korean Non-Life Insurance – Direct Marketing Commission Paid (KRW Billion),
2011–2016
Figure 93: South Korean Non-Life Insurance – Written Premium Through Direct Marketing (KRW
Billion), 2007–2011
Figure 94: South Korean Non-Life Insurance – Written Premium Through Direct Marketing (KRW
Billion), 2011–2016
Figure 95: South Korean Non-Life Insurance – Policies Sold Through Direct Marketing
(Thousand), 2007–2011

Figure 96: South Korean Non-Life Insurance – Policies Sold Through Direct Marketing
(Thousand), 2011–2016
Figure 97: South Korean Non-Life Insurance – Number of Direct Marketing Distributors,
2007–2011
Figure 98: South Korean Non-Life Insurance – Number of Direct Marketing Distributors,
2011–2016
Figure 99: South Korean Non-Life Insurance – Bancassurance Commission Paid (KRW Billion),
2007–2011
Figure 100: South Korean Non-Life Insurance – Bancassurance Commission Paid (KRW Billion),
2011–2016
Figure 101: South Korean Non-Life Insurance – Written Premium Through Bancassurance (KRW
Billion), 2007–2011
Figure 102: South Korean Non-Life Insurance – Written Premium Through Bancassurance (KRW
Billion), 2011–2016
Figure 103: South Korean Non-Life Insurance – Policies Sold Through Bancassurance
(Thousand), 2007–2011
Figure 104: South Korean Non-Life Insurance – Policies Sold Through Bancassurance
(Thousand), 2011–2016
Figure 105: South Korean Non-Life Insurance – Number of Bancassurance Distributors,
2007–2011
Figure 106: South Korean Non-Life Insurance – Number of Bancassurance Distributors,
2011–2016
Figure 107: South Korean Non-Life Insurance – Commission Paid to Agencies (KRW Billion),
2007–2011
Figure 108: South Korean Non-Life Insurance – Commission Paid to Agencies (KRW Billion),
2011–2016
Figure 109: South Korean Non-Life Insurance – Written Premium Through Agencies (KRW
Billion), 2007–2011
Figure 110: South Korean Non-Life Insurance – Written Premium Through Agencies (KRW
Billion), 2011–2016
Figure 111: South Korean Non-Life Insurance – Policies Sold Through Agencies (Thousand),
2007–2011
Figure 112: South Korean Non-Life Insurance – Policies Sold Through Agencies (Thousand),
2011–2016
Figure 113: South Korean Non-Life Insurance – Number of Agencies, 2007–2011
Figure 114: South Korean Non-Life Insurance – Number of Agencies, 2011–2016
Figure 115: South Korean Non-Life Insurance – E-Commerce Commission Paid (KRW Billion),
2007–2011
Figure 116: South Korean Non-Life Insurance – E-Commerce Commission Paid (KRW Billion),
2011–2016
Figure 117: South Korean Non-Life Insurance – Written Premium Through E-Commerce (KRW
Billion), 2007–2011

Figure 118: South Korean Non-Life Insurance – Written Premium Through E-Commerce (KRW
Billion), 2011–2016
Figure 119: South Korean Non-Life Insurance – Policies Sold Through E-Commerce (Thousand),
2007–2011
Figure 120: South Korean Non-Life Insurance – Policies Sold Through E-Commerce (Thousand),
2011–2016
Figure 121: South Korean Non-Life Insurance – Number of E-Commerce Distributors, 2007–2011
Figure 122: South Korean Non-Life Insurance – Number of E-Commerce Distributors, 2011–2016
Figure 123: South Korean Non-Life Insurance – Commission Paid to Brokers (KRW Billion),
2007–2011
Figure 124: South Korean Non-Life Insurance – Commission Paid to Brokers (KRW Billion),
2011–2016
Figure 125: South Korean Non-Life Insurance – Written Premium Through Brokers (KRW Billion),
2007–2011
Figure 126: South Korean Non-Life Insurance – Written Premium Through Brokers (KRW Billion),
2011–2016
Figure 127: South Korean Non-Life Insurance – Policies Sold Through Brokers (Thousand),
2007–2011
Figure 128: South Korean Non-Life Insurance – Policies Sold Through Brokers (Thousand),
2011–2016
Figure 129: South Korean Non-Life Insurance – Number of Brokers, 2007–2011
Figure 130: South Korean Non-Life Insurance – Number of Brokers, 2011–2016
Figure 131: South Korean Non-Life Insurance – Commission Paid to Other Channels (KRW
Billion), 2007–2011
Figure 132: South Korean Non-Life Insurance – Commission Paid to Other Channels (KRW
Billion), 2011–2016
Figure 133: South Korean Non-Life Insurance – Written Premium Through Other Channels (KRW
Billion), 2007–2011
Figure 134: South Korean Non-Life Insurance – Written Premium Through Other Channels (KRW
Billion), 2011–2016
Figure 135: South Korean Non-Life Insurance – Policies Sold Through Other Channels
(Thousand), 2007–2011
Figure 136: South Korean Non-Life Insurance – Policies Sold Through Other Channels
(Thousand), 2011–2016
Figure 137: South Korean Non-Life Insurance – Number of Distributors in Other Channels,
2007–2011
Figure 138: South Korean Non-Life Insurance – Number of Distributors in Other Channels,
2011–2016
Figure 139: South Korean Non-Life Insurance Segment – Five Forces Analysis
Figure 140: South Korean Premium Ceded to Reinsurance by Category (KRW Billion), 2007–2016
Figure 141: South Korean Premium Ceded to Reinsurance by Category (% Share), 2011 and
2016

Figure 142: South Korean Reinsurance Market Dynamics by Category, 2007–2016
Figure 143: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),
2007–2016
Figure 144: South Korean Reinsurance Market Dynamics by Type of Insurance, 2007–2016
Figure 145: South Korean Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Figure 146: South Korean Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Figure 147: South Korean Non-Life Insurance Market Share (%), 2007 and 2010
Figure 148: Gross Written Premium – Top Five South Korean Non-Life Insurers, 2011
Figure 149: Outwards Reinsurance Expense – Top Five South Korean Non-Life Insurers, 2011
Figure 150: Net Earned Premium – Top Five South Korean Non-Life Insurers, 2011
Figure 151: Paid Claims – Top Five South Korean Non-Life Insurers, 2011
Figure 152: Pre-tax Profit/Loss – Top Five South Korean Non-Life Insurers, 2011
Figure 153: Total Assets – Top Five South Korean Non-Life Insurers, 2011
Figure 154: Total Investment Income – Top Five South Korean Non-Life Insurers, 2011
Figure 155: South Korea Business Confidence Indicator, Q1 2008–Q2 2012
Figure 156: Korea Exchange Market Capitalization (US$ Billion), 2007–2011
Figure 157: FDI Inflows by Sector (US$ Billion), 2007–2011
Figure 158: South Korean GDP at Constant Prices (US$ Billion), 2007–2011
Figure 159: South Korean GDP Per Capita at Constant Prices (US$), 2007–2011
Figure 160: South Korean GDP at Current Prices (US$ Billion), 2007–2011
Figure 161: South Korean GDP Per Capita at Current Prices (US$), 2007–2011
Figure 162: South Korean GDP by Key Segments (%) 2009 and 2011
Figure 163: South Korean Agricultural Net Output at Current Prices (KRW Billion), 2007–2011
Figure 164: South Korean Agricultural Net Output at Current Prices (US$ Billion), 2007–2011
Figure 165: South Korean Agricultural Net Output at Current Prices as a Percentage of GDP (%),
2007–2011
Figure 166: South Korean Manufacturing Net Output at Current Prices (KRW Billion), 2007–2011
Figure 167: South Korean Manufacturing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 168: South Korean Manufacturing Net Output at Current Prices as a Percentage of GDP
(%), 2007–2011
Figure 169: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices (KRW
Billion), 2007–2011
Figure 170: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices (US$
Billion), 2007–2011
Figure 171: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices as a
percentage of GDP (%), 2007–2011
Figure 172: South Korean Construction Net Output at Current Prices (KRW Billion), 2007–2011
Figure 173: South Korean Construction Net Output at Current Prices (US$ Billion), 2007–2011
Figure 174: South Korean Construction Output at Current Prices as a Percentage of GDP (%),
2007–2011
Figure 175: South Korean Inflation Rate (%), 2007–2011
Figure 176: South Korean Current Account Balance as a Percentage of GDP(%), 2007–2011

Figure 177: South Korean Exports as a Percentage of GDP (%), 2007–2011
Figure 178: South Korean Imports as a Percentage of GDP (%), 2007–2011
Figure 179: South Korean Exports Growth (%), 2007–2011
Figure 180: South Korean Imports Growth (%), 2007–2011
Figure 181: External debt as a percentage of GDP (%), 2007–2011
Figure 182: South Korean Annual Average Exchange Rate US$–KRW, 2007–2011
Figure 183: South Korean End-of-Period Exchange Rate US$–KRW, 2007–2011
Figure 184: Total Number of South Korea Airports and Sea Ports, 2011
Figure 185: South Korean Railways and Roadways (Kilometers), 2011
Figure 186: South Korean Passenger Vehicle Production, 2007–2011
Figure 187: South Korean Commercial Vehicle Production, 2007–2011
Figure 188: South Korean Automotive Component Exports (US$ Billion), 2007–2011
Figure 189: South Korean Automotive Component Imports (US$ Billion), 2007–2011
Figure 190: South Korean Passenger Car Penetration (per thousand people), 2007–2011
Figure 191: South Korean Healthcare Expenditure (US$ Billion), 2007–2011
Figure 192: South Korean Healthcare Expenditure as a Percentage of GDP (%), 2007–2011
Figure 193: South Korean Per Capita Healthcare Expenditure (US$), 2007–2011
Figure 194: South Korean Internet Subscriptions (Millions), 2007–2011
Figure 195: South Korean Size of Labor Force in 15–59 Age Group (Million), 2007–2011
Figure 196: South Korean Unemployment Rate (%), 2007–2011
Figure 197: South Korean Annual Disposable Income (US$ Billion), 2007–2011
Figure 198: South Korean Annual Per Capita Disposable Income (US$), 2007–2011
Figure 199: South Korean Total Population (Million), 2007–2011
Figure 200: South Korean Urban and Rural Population (%), 2007–2011
Figure 201: South Korean Female as Percentage of Population (%), 2007–2011
Figure 202: South Korean Male as Percentage of Population (%), 2007–2011
Figure 203: South Korean Mean Age of Population (Year), 2007–2011
Figure 204: South Korean Median Age of Population (Year), 2007–2011
Figure 205: South Korean Population Density (per Square Kilometer), 2007–2011
Figure 206: South Korean Population Distribution by Age (%), 2007–2011
Figure 207: South Korean Male Population Distribution by Age (%), 2007–2011
Figure 208: South Korean Female Population Distribution by Age (%), 2007–2011
Figure 209: South Korean Households, Number of (Million), 2007–2011
Figure 210: Global Terrorism Heat Map, 2011
Figure 211: South Korean Transparency Index, 2007–2011
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