1. Reinsurance in South Korea, Key Trends and Opportunities to
2016
Report Details:
Published:September 2012
No. of Pages: 104
Price: Single User License – US$1950
Synopsis
The report provides in depth market analysis, information and insights into the South Korean
reinsurance market, including:
•The South Korean reinsurance market’s growth prospects by reinsurance categories
•The South Korean reinsurance market’s growth prospects by reinsurance ceded from direct
insurance segments
•The competitive landscape in the South Korean reinsurance market
The absence of any large natural disasters in South Korea meant no major losses were recorded
in the insurance industry during the review period. The premium retained by insurers increased,
resulting in high competition over reinsurance premium rates. As a result, the South Korean
reinsurance segment did not register a steep growth in premium rates, especially when compared
to other developed countries such as Japan and the US. A recovering economy means South
Korea's reinsurance segment is expected to record growth similar to that expected in the rest of
the Asia-Pacific region.
Scope
This report provides a comprehensive analysis of the reinsurance market in South Korea:
•It provides historical values for South Korea’s reinsurance 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 reinsurance market, along
with market forecasts until 2016
•It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in
South Korea and its growth prospects
•It profiles the top reinsurance companies in South Korea
Key highlights
•The absence of any major catastrophes during the review period resulted in the South Korean
reinsurance market softening.
•The increase in compulsory property and construction insurance against natural disasters for
small and medium scale enterprises is expected to be a significant driver of growth in the
reinsurance segment.

2. •The losses due to the tsunami in Japan and the earthquake in Haiti have caused insurers to
review risk management.
•Korean Re remains the dominant reinsurance company in the South Korean segment, accounting
for a 65% market share. The company is the largest reinsurance company in Asia.
Reasons to buy
•Make strategic business decisions using in depth historic and forecast market data related to the
South Korean reinsurance market and each sector within it
•Understand the demand-side dynamics, key market trends and growth opportunities within the
South Korean reinsurance market
•Assess the competitive dynamics in the reinsurance 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 Reinsurance Growth Dynamics and Challenges
3.2.1 Reinsurance market size, 2007–2016
3.2.2 Reinsurance market size by type of insurance, 2007–2016
4 Key Industry Trends and Drivers
4.1 Fundamental Business Drivers
4.2 Life Insurance Segment Drivers
4.3 Non-Life Insurance Segment Drivers
4.4 Personal Accident and Health Insurance Segment Drivers
4.5 Recent Market Developments
5 Competitive Landscape and Strategic Insights
5.1 Overview
5.2 Leading Companies in the South Korean Reinsurance Segment
5.3 Korean Reinsurance Company – Company Overview
5.3.1 Korean Reinsurance Company – Key Facts
5.3.2 Korean Reinsurance Company – Key Financials

3. 5.4 Munich Reinsurance Company – Company Overview
5.4.1 Munich Reinsurance Company – Key Facts
5.5 General Reinsurance AG – Company Overview
5.5.1 General Reinsurance AG – Key Facts
5.6 RGA Reinsurance Company – Company Overview
5.6.1 RGA Reinsurance Company – Key Facts
5.7 Swiss Reinsurance Company Ltd – Company Overview
5.7.1 Swiss Reinsurance Company Ltd – Key Facts
5.8 Hannover Rückversicherung AG – Company Overview
5.8.1 Hannover Rückversicherung AG – Key Facts
5.9 SCOR Reinsurance Asia Pacific Pte. Ltd – Company Overview
5.9.1 SCOR Reinsurance Asia Pacific Pte. Ltd – Key Facts
6 Business Environment and Country Risk
6.1 Business Confidence
6.1.1 Business confidence indicator
6.1.2 Market capitalization trend – Korea Exchange, South Korea
6.1.3 FDI inflows by sector
6.2 Economic Performance
6.2.1 GDP at constant prices (US dollar)
6.2.2 GDP per capita at constant prices (US dollar)
6.2.3 GDP at current prices (US dollar)
6.2.4 GDP per capita at current prices (US dollar)
6.2.5 GDP by key segments
6.2.6 Agricultural net output at current prices (South Korean won)
6.2.7 Agricultural net output at current prices (US dollar)
6.2.8 Agricultural net output at current prices as a percentage of GDP
6.2.9 Manufacturing net output at current prices (South Korean won)
6.2.10 Manufacturing net output at current prices (US dollar)
6.2.11 Manufacturing net output at current prices as a percentage of GDP
6.2.12 Mining, manufacturing and utilities net output at current prices (South Korean won)
6.2.13 Mining, manufacturing and utilities at current prices (US dollar)
6.2.14 Mining, manufacturing and utilities at current prices, as percentage of GDP
6.2.15 Construction net output at current prices (South Korean won)
6.2.16 Construction net output at current prices (US dollar)
6.2.17 Construction net output at current prices as a percentage of GDP
6.2.18 Inflation rate
6.2.19 Current account balance as a percentage of GDP
6.2.20 Exports as a percentage of GDP
6.2.21 Imports as a percentage of GDP
6.2.22 Exports growth
6.2.23 Imports growth
6.2.24 External debt as a percentage of GDP

4. 6.2.25 Annual average exchange rate US$–KRW
6.2.26 End-of-period exchange rate US$–KRW
6.3 Infrastructure Quality and Availability
6.3.1 Total airports and sea ports
6.3.2 Railways and roadways
6.3.3 Passenger vehicle production volume
6.3.4 Commercial vehicle production volume
6.3.5 Automotive component exports trend
6.3.6 Automotive component imports trend
6.3.7 Passenger car penetration
6.3.8 Healthcare expenditure
6.3.9 Healthcare expenditure as a percentage of GDP
6.3.10 Healthcare expenditure per capita
6.3.11 Total internet subscribers
6.4 Labor Force
6.4.1 Labor force
6.4.2 Unemployment rate
6.5 Demographics
6.5.1 Annual disposable income
6.5.2 Annual per capita disposable income
6.5.3 Total population
6.5.4 Urban and rural population
6.5.5 Female percentage of population
6.5.6 Male percentage of population
6.5.7 Mean age of the population
6.5.8 Median age of population
6.5.9 Population density
6.5.10 Age distribution of the total population
6.5.11 Age distribution of the male population
6.5.12 Age distribution of the female population
6.5.13 Number of households
6.6 Political and Social Risk
6.6.1 Political stability
6.6.2 Terrorism index
6.6.3 Transparency index
7 Appendix
7.1 Methodology
7.2 Contact Us
7.3 About Timetric
7.4 Disclaimer
List of Tables

5. 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: Reinsurance Market in South Korea by Category (KRW Billion), 2007–2011
Table 8: Reinsurance Market in South Korea by Category (US$ Billion), 2007–2011
Table 9: Reinsurance Market in South Korea by Category (KRW Billion), 2011–2016
Table 10: Reinsurance Market in South Korea by Category (US$ Billion), 2011–2016
Table 11: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),
2007–2011
Table 12: South Korean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),
2007–2011
Table 13: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),
2011–2016
Table 14: South Korean Premium Ceded to Reinsurance by Type of Insurance (US$ Billion),
2011–2016
Table 15: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 16: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 17: South Korean Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Table 18: South Korean Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Table 19: South Korean Personal Accident and Health Insurance – Percentage of Reinsurance
Ceded (%), 2007–2011
Table 20: South Korean Personal Accident and Health Insurance – Percentage of Reinsurance
Ceded (%), 2011–2016
Table 21: South Korean Leading Reinsurance Companies
Table 22: Korean Reinsurance Company, Key Facts
Table 23: Korean Reinsurance Company, Key Financials (KRW Million)
Table 24: Munich Reinsurance Company, Key Facts
Table 25: General Reinsurance AG, Key Facts
Table 26: RGA Reinsurance Company, Key Facts
Table 27: Swiss Reinsurance Company Ltd, Key Facts
Table 28: Hannover Rückversicherung AG, Key Facts
Table 29: SCOR Reinsurance Asia Pacific Pte. 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 Premium Ceded to Reinsurance by Category (KRW Billion), 2007–2016
Figure 4: South Korean Premium Ceded to Reinsurance by Category (% Share), 2011 and 2016
Figure 5: South Korean Reinsurance Market Dynamics by Category, 2007–2016
Figure 6: South Korean Premium Ceded to Reinsurance by Type of Insurance (KRW Billion),

6. 2007–2016
Figure 7: South Korean Reinsurance Market Dynamics by Type of Insurance, 2007–2016
Figure 8: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 9: South Korean Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 10: South Korean Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Figure 11: South Korean Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Figure 12: South Korean Personal Accident and Health Insurance – Percentage of Reinsurance
Ceded (%), 2007–2011
Figure 13: South Korean Personal Accident and Health Insurance – Percentage of Reinsurance
Ceded (%), 2011–2016
Figure 14: South Korea Business Confidence Indicator, Q12008–Q22012
Figure 15: Korea Exchange Market Capitalization (US$ Billion), 2007–2011
Figure 16: FDI Inflows by Sector (US$ Billion), 2007–2011
Figure 17: South Korean GDP at Constant Prices (US$ Billion), 2007–2011
Figure 18: South Korean GDP Per Capita at Constant Prices (US$), 2007–2011
Figure 19: South Korean GDP at Current Prices (US$ Billion), 2007–2011
Figure 20: South Korean GDP Per Capita at Current Prices (US$), 2007–2011
Figure 21: South Korean GDP by Key Segments (%) 2009 and 2011
Figure 22: South Korean Agricultural Net Output at Current Prices (KRW Billion), 2007–2011
Figure 23: South Korean Agricultural Net Output at Current Prices (US$ Billion), 2007–2011
Figure 24: South Korean Agricultural Net Output at Current Prices as a Percentage of GDP (%),
2007–2011
Figure 25: South Korean Manufacturing Net Output at Current Prices (KRW Billion), 2007–2011
Figure 26: South Korean Manufacturing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 27: South Korean Manufacturing Net Output at Current Prices as a Percentage of GDP
(%), 2007–2011
Figure 28: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices (KRW
Billion), 2007–2011
Figure 29: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices (US$
Billion), 2007–2011
Figure 30: South Korean Mining, Manufacturing and Utilities Net Output at Current Prices as a
Percentage of GDP (%), 2007–2011
Figure 31: South Korean Construction Net Output at Current Prices (KRW Billion), 2007–2011
Figure 32: South Korean Construction Net Output at Current Prices (US$ Billion), 2007–2011
Figure 33: South Korean Construction Output at Current Prices as a Percentage of GDP (%),
2007–2011
Figure 34: South Korean Inflation Rate (%), 2007–2011
Figure 35: South Korean Current Account Balance as a Percentage of GDP (%), 2007–2011
Figure 36: South Korean Exports as a Percentage of GDP (%), 2007–2011
Figure 37: South Korean Imports as a Percentage of GDP (%), 2007–2011
Figure 38: South Korean Exports Growth (%), 2007–2011
Figure 39: South Korean Imports Growth (%), 2007–2011

7. Figure 40: External Debt as a Percentage of GDP (%), 2007–2011
Figure 41: South Korean Annual Average Exchange Rate US$–KRW, 2007–2011
Figure 42: South Korean End-of-Period Exchange Rate US$–KRW, 2007–2011
Figure 43: Total Number of South Korean Airports and Sea Ports, 2011
Figure 44: South Korean Railways and Roadways (Kilometers), 2011
Figure 45: South Korean Passenger Vehicle Production, 2007–2011
Figure 46: South Korean Commercial Vehicle Production, 2007–2011
Figure 47: South Korean Automotive Component Exports (US$ Billion), 2007–2011
Figure 48: South Korean Automotive Component Imports (US$ Billion), 2007–2011
Figure 49: South Korean Passenger Car Penetration (per thousand people), 2007–2011
Figure 50: South Korean Healthcare Expenditure (US$ Billion), 2007–2011
Figure 51: South Korean Healthcare Expenditure as a Percentage of GDP (%), 2007–2011
Figure 52: South Korean Per Capita Healthcare Expenditure (US$), 2007–2011
Figure 53: South Korean Internet Subscriptions (Millions), 2007–2011
Figure 54: South Korean Size of Labor Force in 15–59 Age Group (Million), 2007–2011
Figure 55: South Korean Unemployment Rate (%), 2007–2011
Figure 56: South Korean Annual Disposable Income (US$ Billion), 2007–2011
Figure 57: South Korean Annual Per Capita Disposable Income (US$), 2007–2011
Figure 58: South Korean Total Population (Million), 2007–2011
Figure 59: South Korean Urban and Rural Population (%), 2007–2011
Figure 60: South Korean Female as Percentage of Population (%), 2007–2011
Figure 61: South Korean Males as Percentage of Population (%), 2007–2011
Figure 62: South Korean Mean Age of Population (Years), 2007–2011
Figure 63: South Korean Median Age of Population (Years), 2007–2011
Figure 64: South Korean Population Density (per Square Kilometer), 2007–2011
Figure 65: South Korean Population Distribution by Age (%), 2007–2011
Figure 66: South Korean Male Population Distribution by Age (%), 2007–2011
Figure 67: South Korean Female Population Distribution by Age (%), 2007–2011
Figure 68: South Korean Households, Number of (Million), 2007–2011
Figure 69: Global Terrorism Heat Map, 2011
Figure 70: South Korean Transparency Index, 2007–2011
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