Life Insurance in South Korea, Key Trends and Opportunities to 2020

NEW YORK, Dec. 7, 2016 /PRNewswire/ --

Synopsis
Timetric's 'Life Insurance in South Korea Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the South Korean life insurance segment, and a comparison of the South Korean insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the South Korean economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric's 'Life Insurance in South Korea Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the South Korean life insurance segment, including:

- An overview of the South Korean life insurance segment

- The South Korean life insurance segment's growth prospects by category

- A comprehensive overview of the South Korean economy and demographics

- A comparison of the South Korean life insurance segment with its regional counterparts

- The various distribution channels in the South Korean life insurance segment

- Details of the competitive landscape in the life insurance segment in South Korea

- Details of regulatory policy applicable to the South Korean insurance industry

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

- It provides historical values for the South Korean life insurance segment for the report's 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the South Korean life insurance segment, and market forecasts to 2020.

- It provides a comparison of the South Korean life insurance segment with its regional counterparts.

- It analyzes the various distribution channels for life insurance products in South Korea.

- It profiles the top life insurance companies in South Korea and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the South Korean life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the South Korean life insurance segment.

- Assess the competitive dynamics in the life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the South Korean insurance industry, and their impact on companies and the industry's future.

Key Highlights
- Life insurance was the largest segment in the South Korean insurance industry, accounting for 64.2% of its direct written premium in 2015.

- The country's aging population encouraged insurers to concentrate on retirement benefits and private pension products. The population aged over 65 is expected to comprise 38% of the total population by 2050.

- Growth was supported by economic growth, low inflation and the increasing significance of life insurance as a means of savings and investment.

- On May 29, 2015, the South Korean government introduced the Civil Service Pension (CSP) reform to reduce the pension deficit.

- Bancassurance emerged as the segment's leading distribution channel in 2015, accounting for 46.6% of its total new business direct written premium.

- The life segment is highly consolidated, with the 10 leading companies accounting for 80.6% of the segment's gross written premium in 2015.
Read the full report: http://www.reportlinker.com/p01007310-summary/view-report.html

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