Non-Life Insurance in South Korea
Summary
Non-Life Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
Non-Life Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Non-life insurance is typically defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event.
- The South Korean non-life insurance market recorded gross written premiums of $24.4 billion in 2024, representing a compound annual growth rate (CAGR) of 2.0% between 2019 and 2024.
- The motor segment accounted for the market's largest proportion in 2024, with total gross written premiums of $14.7 billion, equivalent to 60% of the market's overall value.
- In 2024, South Korea accounted for 4.9% of the Asia-Pacific non-life insurance market.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in South Korea
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea non-life insurance market with five year forecasts
- What was the size of the South Korea non-life insurance market by value in 2024?
- What will be the size of the South Korea non-life insurance market in 2029?
- What factors are affecting the strength of competition in the South Korea non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up South Korea's non-life insurance market?
1 EXECUTIVE SUMMARY
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market rivalry
1.6. 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. Who are the leading players?
7.2. What are the strengths and strategies of the leading players?
7.3. What are the challenges in the market?
8 COMPANY PROFILES
8.1. KB Financial Group Inc
8.2. Samsung Fire & Marine Insurance Co Ltd
8.3. Hyundai Marine & Fire Insurance Co Ltd
8.4. Meritz Fire & Marine 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 rivalry
1.6. 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. Who are the leading players?
7.2. What are the strengths and strategies of the leading players?
7.3. What are the challenges in the market?
8 COMPANY PROFILES
8.1. KB Financial Group Inc
8.2. Samsung Fire & Marine Insurance Co Ltd
8.3. Hyundai Marine & Fire Insurance Co Ltd
8.4. Meritz Fire & Marine 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 non-life insurance market value: $ billion, 2019-24
Table 2: South Korea non-life insurance market category segmentation: % share, by value, 2019-24
Table 3: South Korea non-life insurance market category segmentation: $ billion, 2019-24
Table 4: South Korea non-life insurance market geography segmentation: $ billion, 2024
Table 5: South Korea non-life insurance market value forecast: $ billion, 2024-29
Table 6: KB Financial Group Inc: Key Facts
Table 7: KB Financial Group Inc: Annual Financial Ratios
Table 8: KB Financial Group Inc: Key Employees
Table 9: Samsung Fire & Marine Insurance Co Ltd: Key Facts
Table 10: Samsung Fire & Marine Insurance Co Ltd: Annual Financial Ratios
Table 11: Samsung Fire & Marine Insurance Co Ltd: Key Employees
Table 12: Hyundai Marine & Fire Insurance Co Ltd: Key Facts
Table 13: Hyundai Marine & Fire Insurance Co Ltd: Annual Financial Ratios
Table 14: Hyundai Marine & Fire Insurance Co Ltd: Key Employees
Table 15: Meritz Fire & Marine Insurance Co Ltd: Key Facts
Table 16: Meritz Fire & Marine Insurance Co Ltd: Key Employees
Table 17: South Korea Exchange Rate, 2019-24
Table 1: South Korea non-life insurance market value: $ billion, 2019-24
Table 2: South Korea non-life insurance market category segmentation: % share, by value, 2019-24
Table 3: South Korea non-life insurance market category segmentation: $ billion, 2019-24
Table 4: South Korea non-life insurance market geography segmentation: $ billion, 2024
Table 5: South Korea non-life insurance market value forecast: $ billion, 2024-29
Table 6: KB Financial Group Inc: Key Facts
Table 7: KB Financial Group Inc: Annual Financial Ratios
Table 8: KB Financial Group Inc: Key Employees
Table 9: Samsung Fire & Marine Insurance Co Ltd: Key Facts
Table 10: Samsung Fire & Marine Insurance Co Ltd: Annual Financial Ratios
Table 11: Samsung Fire & Marine Insurance Co Ltd: Key Employees
Table 12: Hyundai Marine & Fire Insurance Co Ltd: Key Facts
Table 13: Hyundai Marine & Fire Insurance Co Ltd: Annual Financial Ratios
Table 14: Hyundai Marine & Fire Insurance Co Ltd: Key Employees
Table 15: Meritz Fire & Marine Insurance Co Ltd: Key Facts
Table 16: Meritz Fire & Marine Insurance Co Ltd: Key Employees
Table 17: South Korea Exchange Rate, 2019-24
LIST OF FIGURES
Figure 1: South Korea non-life insurance market value: $ billion, 2019-24
Figure 2: South Korea non-life insurance market category segmentation: $ billion, 2019-24
Figure 3: South Korea non-life insurance market geography segmentation: % share, by value, 2024
Figure 4: South Korea non-life insurance market value forecast: $ billion, 2024-29
Figure 5: Forces driving competition in the non-life insurance market in South Korea, 2024
Figure 6: Drivers of buyer power in the non-life insurance market in South Korea, 2024
Figure 7: Drivers of supplier power in the non-life insurance market in South Korea, 2024
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in South Korea, 2024
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in South Korea, 2024
Figure 10: Drivers of degree of rivalry in the non-life insurance market in South Korea, 2024
Figure 1: South Korea non-life insurance market value: $ billion, 2019-24
Figure 2: South Korea non-life insurance market category segmentation: $ billion, 2019-24
Figure 3: South Korea non-life insurance market geography segmentation: % share, by value, 2024
Figure 4: South Korea non-life insurance market value forecast: $ billion, 2024-29
Figure 5: Forces driving competition in the non-life insurance market in South Korea, 2024
Figure 6: Drivers of buyer power in the non-life insurance market in South Korea, 2024
Figure 7: Drivers of supplier power in the non-life insurance market in South Korea, 2024
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in South Korea, 2024
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in South Korea, 2024
Figure 10: Drivers of degree of rivalry in the non-life insurance market in South Korea, 2024
