Life Insurance in South Korea
Life Insurance in South Korea
Summary
Life Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 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
Life Insurance in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 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 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 2019 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 is forecast to generate total gross written premiums of $93.9bn in 2020, representing a compound annual rate of change (CARC) of -2.2% between 2016 and 2020.
- The life insurance segment is expected to be the market's most lucrative in 2020, with total gross written premiums of $70.9bn, equivalent to 75.6% of the market's overall value.
- One of the main drivers of life insurance spending is consumer confidence. If consumers are confident in their economic ability and the long-term economic prospects of their country, then they are very unlikely to buy life insurance
- Save time carrying out entry-level research by identifying the size, growth, 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 by both value and volume
- What was the size of the South Korea life insurance market by value in 2020?
- What will be the size of the South Korea life insurance market in 2025?
- 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?
- How large is South Korea’s life insurance market in relation to its regional counterparts?
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 rationale for the recent M&A activity?
7.5. How has the COVID-19 outbreak impacted the market?
8 COMPANY PROFILES
8.1. Hanwha Investment & Securities Co Ltd
8.2. Samsung Life Insurance Co Ltd
8.3. Mirae Asset Life Insurance Co Ltd
8.4. Kyobo 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 the leading players follow?
7.4. What is the rationale for the recent M&A activity?
7.5. How has the COVID-19 outbreak impacted the market?
8 COMPANY PROFILES
8.1. Hanwha Investment & Securities Co Ltd
8.2. Samsung Life Insurance Co Ltd
8.3. Mirae Asset Life Insurance Co Ltd
8.4. Kyobo 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, 2016-20(e)
Table 2: South Korea life insurance market category segmentation: $ billion, 2020(e)
Table 3: South Korea life insurance market geography segmentation: $ billion, 2020(e)
Table 4: South Korea life insurance market value forecast: $ billion, 2020-25
Table 5: South Korea life insurance market share: % share, by value, 2020(e)
Table 6: Hanwha Investment & Securities Co Ltd: key facts
Table 7: Hanwha Investment & Securities Co Ltd: Key Employees
Table 8: Samsung Life Insurance Co Ltd: key facts
Table 9: Samsung Life Insurance Co Ltd: Key Employees
Table 10: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 11: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 12: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 13: Mirae Asset Life Insurance Co Ltd: key facts
Table 14: Mirae Asset Life Insurance Co Ltd: Key Employees
Table 15: Kyobo Life Insurance Co Ltd: key facts
Table 16: Kyobo Life Insurance Co Ltd: Key Employees
Table 17: South Korea size of population (million), 2016-20
Table 18: South Korea gdp (constant 2005 prices, $ billion), 2016-20
Table 19: South Korea gdp (current prices, $ billion), 2016-20
Table 20: South Korea inflation, 2016-20
Table 21: South Korea consumer price index (absolute), 2016-20
Table 22: South Korea exchange rate, 2015-19
Table 1: South Korea life insurance market value: $ billion, 2016-20(e)
Table 2: South Korea life insurance market category segmentation: $ billion, 2020(e)
Table 3: South Korea life insurance market geography segmentation: $ billion, 2020(e)
Table 4: South Korea life insurance market value forecast: $ billion, 2020-25
Table 5: South Korea life insurance market share: % share, by value, 2020(e)
Table 6: Hanwha Investment & Securities Co Ltd: key facts
Table 7: Hanwha Investment & Securities Co Ltd: Key Employees
Table 8: Samsung Life Insurance Co Ltd: key facts
Table 9: Samsung Life Insurance Co Ltd: Key Employees
Table 10: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 11: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 12: Samsung Life Insurance Co Ltd: Key Employees Continued
Table 13: Mirae Asset Life Insurance Co Ltd: key facts
Table 14: Mirae Asset Life Insurance Co Ltd: Key Employees
Table 15: Kyobo Life Insurance Co Ltd: key facts
Table 16: Kyobo Life Insurance Co Ltd: Key Employees
Table 17: South Korea size of population (million), 2016-20
Table 18: South Korea gdp (constant 2005 prices, $ billion), 2016-20
Table 19: South Korea gdp (current prices, $ billion), 2016-20
Table 20: South Korea inflation, 2016-20
Table 21: South Korea consumer price index (absolute), 2016-20
Table 22: South Korea exchange rate, 2015-19
LIST OF FIGURES
Figure 1: South Korea life insurance market value: $ billion, 2016-20(e)
Figure 2: South Korea life insurance market category segmentation: % share, by value, 2020(e)
Figure 3: South Korea life insurance market geography segmentation: % share, by value, 2020(e)
Figure 4: South Korea life insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the life insurance market in South Korea, 2020
Figure 6: Drivers of buyer power in the life insurance market in South Korea, 2020
Figure 7: Drivers of supplier power in the life insurance market in South Korea, 2020
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in South Korea, 2020
Figure 9: Factors influencing the threat of substitutes in the life insurance market in South Korea, 2020
Figure 10: Drivers of degree of rivalry in the life insurance market in South Korea, 2020
Figure 11: South Korea life insurance market share: % share, by value, 2020(e)
COMPANIES MENTIONED
Hanwha Investment & Securities Co Ltd
Samsung Life Insurance Co Ltd
Mirae Asset Life Insurance Co Ltd
Kyobo Life Insurance Co Ltd
Figure 1: South Korea life insurance market value: $ billion, 2016-20(e)
Figure 2: South Korea life insurance market category segmentation: % share, by value, 2020(e)
Figure 3: South Korea life insurance market geography segmentation: % share, by value, 2020(e)
Figure 4: South Korea life insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the life insurance market in South Korea, 2020
Figure 6: Drivers of buyer power in the life insurance market in South Korea, 2020
Figure 7: Drivers of supplier power in the life insurance market in South Korea, 2020
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in South Korea, 2020
Figure 9: Factors influencing the threat of substitutes in the life insurance market in South Korea, 2020
Figure 10: Drivers of degree of rivalry in the life insurance market in South Korea, 2020
Figure 11: South Korea life insurance market share: % share, by value, 2020(e)
COMPANIES MENTIONED
Hanwha Investment & Securities Co Ltd
Samsung Life Insurance Co Ltd
Mirae Asset Life Insurance Co Ltd
Kyobo Life Insurance Co Ltd
