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Life Insurance in South Korea

August 2020 | 42 pages | ID: L3B13005271EN
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Life Insurance in South Korea

SUMMARY

Life Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2015-19, and forecast to 2024). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

KEY HIGHLIGHTS
  • The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2018 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
  • The South Korean life insurance market had total gross written premiums of $99.0bn in 2018, representing a compound annual rate of change (CARC) of -0.4% between 2014 and 2018.
  • One of the main drivers of life insurance spending is consumer confidence.
  • Robust growth in 2014 and 2015 gave way to a sharp deceleration.
SCOPE
  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in South Korea
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in South Korea
  • Leading company profiles reveal details of key 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 life insurance market with five year forecasts
REASONS TO BUY
  • What was the size of the South Korea life insurance market by value in 2019?
  • What will be the size of the South Korea life insurance market in 2024?
  • What factors are affecting the strength of competition in the South Korea life insurance market?
  • How has the market performed over the last five years?
  • Who are the top competitiors in South Korea's 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 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 the leading players follow?
7.4. What is the rational for the recent M&A activity?

8 COMPANY PROFILES

8.1. Hanwha Investment & Securities Co., Ltd.
8.2. Samsung Life Insurance Co Ltd
8.3. Kyobo Life Insurance Co Ltd
8.4. Nonghyup 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 life insurance market value: $ billion, 2014-18
Table 2: South Korea life insurance market category segmentation: $ billion, 2018
Table 3: South Korea life insurance market geography segmentation: $ billion, 2018
Table 4: South Korea life insurance market value forecast: $ billion, 2018-23
Table 5: South Korea life insurance market share: % share, by value, 2018
Table 6: Hanwha Investment & Securities Co., Ltd.: key facts
Table 7: Hanwha Investment & Securities Co., Ltd.: Annual Financial Ratios
Table 8: Hanwha Investment & Securities Co., Ltd.: Key Employees
Table 9: Samsung Life Insurance Co Ltd: key facts
Table 10: Samsung Life Insurance Co Ltd: Annual Financial Ratios
Table 11: Samsung Life Insurance Co Ltd: Key Employees
Table 12: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 13: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 14: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 15: Kyobo Life Insurance Co Ltd: key facts
Table 16: Kyobo Life Insurance Co Ltd: Key Employees
Table 17: Nonghyup Life Insurance Co.,Ltd.: key facts
Table 18: Nonghyup Life Insurance Co.,Ltd.: Key Employees
Table 19: South Korea size of population (million), 2014-18
Table 20: South Korea gdp (constant 2005 prices, $ billion), 2014-18
Table 21: South Korea gdp (current prices, $ billion), 2014-18
Table 22: South Korea inflation, 2014-18
Table 23: South Korea consumer price index (absolute), 2014-18
Table 24: South Korea exchange rate, 2015-19

LIST OF FIGURES

Figure 1: South Korea life insurance market value: $ billion, 2014-18
Figure 2: South Korea life insurance market category segmentation: % share, by value, 2018
Figure 3: South Korea life insurance market geography segmentation: % share, by value, 2018
Figure 4: South Korea life insurance market value forecast: $ billion, 2018-23
Figure 5: Forces driving competition in the life insurance market in South Korea, 2018
Figure 6: Drivers of buyer power in the life insurance market in South Korea, 2018
Figure 7: Drivers of supplier power in the life insurance market in South Korea, 2018
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in South Korea, 2018
Figure 9: Factors influencing the threat of substitutes in the life insurance market in South Korea, 2018
Figure 10: Drivers of degree of rivalry in the life insurance market in South Korea, 2018
Figure 11: South Korea life insurance market share: % share, by value, 2018


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