South Korea Reinsurance Market:Key Industry Drivers

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Reinsurance in South Korea, Key Trends and
Opportunities to 2018
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Summary
The report provides in-depth market analysis,
information and insights into the South Korean
reinsurance segment, including The South
Korean reinsurance segment's growth prospects by
reinsurance category Key drivers for the
reinsurance segment South Korean reinsurance
segments growth prospects by reinsurance ceded
from direct insurance The competitive
landscape in the South Korean reinsurance segment
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3
Synopsis

• Reinsurance in South Korea is treated as a
  category of non-life insurance, and the
  regulatory structure that applies to non-life
  insurance also applies to reinsurance. However,
  the South Korean reinsurance segments gross
  written premium grew from KRW13.8 trillion
  (US10.8 billion) in 2009 to KRW15.8 trillion
  (US14.4 billion) in 2013, at a review-period
  (2009-2013) CAGR of 3.4. The absence of
  large-scale natural disasters in South Korea
  meant the insurance industry did not record major
  losses during the review period, encouraging
  direct insurers to retain the majority of their
  gross written premium. As such, the South Korean
  reinsurance segment posted slow growth during the
  review period.
• Although mandatory cessions in the country no
  longer exist, ceding insurers give priority to
  domestic reinsurers due to a regulation in late
  2013 prohibiting foreign unlicensed reinsurers
  from operating. This led to increased dependence
  on domestic reinsurer Korean Re, supplementing
  the segments growth during the review period.

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Scope
This report provides a comprehensive analysis of
the reinsurance segment in South Korea It
provides historical values for South Koreas
reinsurance segment for the reports 2009-2013
review period, and projected figures for the
2013-2018 forecast period. It offers a
detailed analysis of the key categories in South
Koreas reinsurance segment, along with market
forecasts until 2018. It provides a detailed
analysis of the reinsurance ceded from various
direct insurance segments in South Korean its
growth prospects.
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Reasons To Buy
Make strategic business decisions using
in-depth historic and forecast market data
related to the South Korean reinsurance segment
and each sector within it Understand the
demand-side dynamics, key market trends and
growth opportunities in the South Korean
reinsurance segment Identify the growth
opportunities and market dynamics in key product
categories Gain insights into key regulations
governing the South Korean insurance industry,
and their impact on companies and the industry's
future To Get More Details Enquire _at_
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1906
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Key highlights
Reinsurance in South Korea is treated as a
category of non-life insurance, and the
regulatory structure that applies to non-life
insurance also applies to reinsurance. The
absence of large-scale natural disasters in South
Korea meant the insurance industry did not record
major losses during the review period,
encouraging direct insurers to retain the
majority of their gross written premium.
Although mandatory cessions in the country no
longer exist, ceding insurers give priority to
domestic reinsurers due to a regulation in late
2013 prohibiting foreign unlicensed reinsurers
from operating
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Table Of Content
1 Key Facts and Events 2 Executive Summary 3
Introduction 4 South Korean Insurance Industry
Attractiveness 5 Reinsurance Growth Dynamics and
Challenges 6 Key Industry Drivers 7 Competitive
Landscape and Strategic Insights 8 Appendix 1 9
Appendix - 2
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