Insurance in South Korea - Market Summary, Competitive Analysis and Forecast to 2025
Insurance in South Korea - Market Summary, Competitive Analysis and Forecast to 2025
SUMMARY
Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
KEY HIGHLIGHTS
SUMMARY
Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
KEY HIGHLIGHTS
- The insurance market consists of the non-life and life insurance sectors. The value of the market is shown in terms of gross premium incomes.
- The South Korean insurance market had total gross written premiums of $189.5bn in 2020, representing a compound annual growth rate (CAGR) of 2.4% between 2016 and 2020.
- The life insurance segment was the market's most lucrative in 2020, with total gross written premiums of $103.8bn, equivalent to 54.8% of the market's overall value.
- In a bid to gain a competitive advantage over their peers, many South Korean insurance companies have been focused on integrating new technologies into their product offering, which has supported recent growth in the market.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in South Korea
- Leading company profiles reveal details of key insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea insurance market with five year forecasts
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1 EXECUTIVE SUMMARY
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What has been the rationale behind recent M&A activity?
7.5. How has the COVID-19 outbreak impacted the market?
8 COMPANY PROFILES
8.1. Samsung Life Insurance Co Ltd
8.2. Hyundai Marine & Fire Insurance Co Ltd
8.3. DB Insurance Co Ltd
8.4. Hanwha Life Insurance Co Ltd
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What has been the rationale behind recent M&A activity?
7.5. How has the COVID-19 outbreak impacted the market?
8 COMPANY PROFILES
8.1. Samsung Life Insurance Co Ltd
8.2. Hyundai Marine & Fire Insurance Co Ltd
8.3. DB Insurance Co Ltd
8.4. Hanwha Life Insurance Co Ltd
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
LIST OF TABLES
Table 1: South Korea insurance market value: $ billion, 2016–20
Table 2: South Korea insurance market category segmentation: $ billion, 2020
Table 3: South Korea insurance market geography segmentation: $ billion, 2020
Table 4: South Korea insurance market value forecast: $ billion, 2020–25
Table 5: South Korea insurance market share: % share, by value, 2020
Table 6: Samsung Life Insurance Co Ltd: key facts
Table 7: Samsung Life Insurance Co Ltd: Annual Financial Ratios
Table 8: Samsung Life Insurance Co Ltd: Key Employees
Table 9: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 10: Hyundai Marine & Fire Insurance Co Ltd: key facts
Table 11: Hyundai Marine & Fire Insurance Co Ltd: Annual Financial Ratios
Table 12: Hyundai Marine & Fire Insurance Co Ltd: Key Employees
Table 13: Hyundai Marine & Fire Insurance Co Ltd: Key Employees Continued
Table 14: DB Insurance Co Ltd: key facts
Table 15: DB Insurance Co Ltd: Annual Financial Ratios
Table 16: DB Insurance Co Ltd: Key Employees
Table 17: Hanwha Life Insurance Co Ltd: key facts
Table 18: Hanwha Life Insurance Co Ltd: Annual Financial Ratios
Table 19: Hanwha Life Insurance Co Ltd: Key Employees
Table 20: South Korea size of population (million), 2016–20
Table 21: South Korea gdp (constant 2005 prices, $ billion), 2016–20
Table 22: South Korea gdp (current prices, $ billion), 2016–20
Table 23: South Korea inflation, 2016–20
Table 24: South Korea consumer price index (absolute), 2016–20
Table 25: South Korea exchange rate, 2016–20
Table 1: South Korea insurance market value: $ billion, 2016–20
Table 2: South Korea insurance market category segmentation: $ billion, 2020
Table 3: South Korea insurance market geography segmentation: $ billion, 2020
Table 4: South Korea insurance market value forecast: $ billion, 2020–25
Table 5: South Korea insurance market share: % share, by value, 2020
Table 6: Samsung Life Insurance Co Ltd: key facts
Table 7: Samsung Life Insurance Co Ltd: Annual Financial Ratios
Table 8: Samsung Life Insurance Co Ltd: Key Employees
Table 9: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 10: Hyundai Marine & Fire Insurance Co Ltd: key facts
Table 11: Hyundai Marine & Fire Insurance Co Ltd: Annual Financial Ratios
Table 12: Hyundai Marine & Fire Insurance Co Ltd: Key Employees
Table 13: Hyundai Marine & Fire Insurance Co Ltd: Key Employees Continued
Table 14: DB Insurance Co Ltd: key facts
Table 15: DB Insurance Co Ltd: Annual Financial Ratios
Table 16: DB Insurance Co Ltd: Key Employees
Table 17: Hanwha Life Insurance Co Ltd: key facts
Table 18: Hanwha Life Insurance Co Ltd: Annual Financial Ratios
Table 19: Hanwha Life Insurance Co Ltd: Key Employees
Table 20: South Korea size of population (million), 2016–20
Table 21: South Korea gdp (constant 2005 prices, $ billion), 2016–20
Table 22: South Korea gdp (current prices, $ billion), 2016–20
Table 23: South Korea inflation, 2016–20
Table 24: South Korea consumer price index (absolute), 2016–20
Table 25: South Korea exchange rate, 2016–20
LIST OF FIGURES
Figure 1: South Korea insurance market value: $ billion, 2016–20
Figure 2: South Korea insurance market category segmentation: % share, by value, 2020
Figure 3: South Korea insurance market geography segmentation: % share, by value, 2020
Figure 4: South Korea insurance market value forecast: $ billion, 2020–25
Figure 5: Forces driving competition in the insurance market in South Korea, 2020
Figure 6: Drivers of buyer power in the insurance market in South Korea, 2020
Figure 7: Drivers of supplier power in the insurance market in South Korea, 2020
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in South Korea, 2020
Figure 9: Factors influencing the threat of substitutes in the insurance market in South Korea, 2020
Figure 10: Drivers of degree of rivalry in the insurance market in South Korea, 2020
Figure 11: South Korea insurance market share: % share, by value, 2020
Figure 1: South Korea insurance market value: $ billion, 2016–20
Figure 2: South Korea insurance market category segmentation: % share, by value, 2020
Figure 3: South Korea insurance market geography segmentation: % share, by value, 2020
Figure 4: South Korea insurance market value forecast: $ billion, 2020–25
Figure 5: Forces driving competition in the insurance market in South Korea, 2020
Figure 6: Drivers of buyer power in the insurance market in South Korea, 2020
Figure 7: Drivers of supplier power in the insurance market in South Korea, 2020
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in South Korea, 2020
Figure 9: Factors influencing the threat of substitutes in the insurance market in South Korea, 2020
Figure 10: Drivers of degree of rivalry in the insurance market in South Korea, 2020
Figure 11: South Korea insurance market share: % share, by value, 2020
