South Korea Reinsurance Market Examined & Forecast by Timetric in In-demand Report Published at MarketPublishers.com08 Nov 2013 • by Natalie Aster
LONDON – During 2008-2012, the reinsurance industry in South Korea registered an 8.2% CAGR and grew from USD 5.1 billion in 2008 to more than USD 7.69 billion in 2012. The domestic reinsurance category did not experience any considerable losses over the examined period due to the absence of huge natural disasters in the country. This encouraged South Korea’s direct insurers to retain most of their written premiums, which lead to fiercer competition in the domestic reinsurance sector. Thus, the reinsurance industry in South Korea did not record strong increase in premium rates if compared to other developed nations, such as the US and Japan. In 2012, treaty reinsurance was the dominant segment in the domestic reinsurance market, accounting for an 85.7% market share. The further growth of the South Korean reinsurance market is likely to be mainly spurred by the technical skills and financial resources offered by foreign reinsurers.
Korean Reinsurance Company, Munich Reinsurance Company and Swiss Reinsurance Company are the key participants in the national reinsurance market.
In-demand market research report “Reinsurance in South Korea, Key Trends and Opportunities to 2017” prepared by Timetric offers a comprehensive guide to the reinsurance sector in South Korea.
The report presents an in-depth analysis of the domestic reinsurance market, sheds light on the historical background and actual state of the industry, examines key factors influencing the market growth as well as discusses the major market trends. The research study scrutinizes the market segmentation, describes the competitive scenario and reviews the leading market participants. In addition, the report evaluates the market attractiveness, outlines the market growth prospects and provides forecasts for the South Korean market through 2017.
Reinsurance in South Korea, Key Trends and Opportunities to 2017
Published: October, 2013
Price: US$ 1,950.00
Timetric Research Reports on Other Insurance Markets in South Korea Include:
- Personal Accident and Health Insurance in South Korea, Key Trends and Opportunities to 2017
- Life Insurance in South Korea, Key Trends and Opportunities to 2017
- Non-Life Insurance in South Korea, Key Trends and Opportunities to 2017
More in-demand market research reports by the publisher can be found at Timetric page.