Market Report, "Reinsurance in South Korea, Key Trends and Opportunities to 2017", published

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 written premium of the South Korean reinsurance segment grew from KRW5.6 trillion (US$5.1 billion) in 2008 to KRW7.7 trillion (US$6.8 billion) in 2012, at a review-period CAGR of 8.2%. The absence of large natural disasters in South Korea meant that the country's insurance industry did not record any major losses during the review period. This encouraged the country's direct insurers to retain the majority of their written premium, which resulted in intense competition in the reinsurance segment. The South Korean reinsurance segment did not, therefore, register strong growth in premium rates, especially in comparison to other developed countries such as Japan and the US.

Full Report Details at
- http://www.fastmr.com/prod/721127_reinsurance_in_south_korea_key_trends_and.aspx?afid=303

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
* Growth in reinsurance will be driven by the financial resources and technical skills offered by foreign reinsurers, such as developing products and offering experience in pricing and marketing
* The South Korean insurance regulator introduced a new risk-based capital (RBC) regime in April 2011, which replaced the old solvency model based on the EU's solvency I regime
* Treaty reinsurance accounted for an 85.7% share of the South Korean reinsurance segment in 2012

Scope

This report provides a comprehensive analysis of the reinsurance segment in South Korea:

* It provides historical values for South Korea's reinsurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
* It offers a detailed analysis of the key sub-segments in South Korea's reinsurance segment, along with market forecasts until 2017
* It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in South Korea and its growth prospects

Reasons to Get this Report

* 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 within the South Korean reinsurance segment
* Identify the growth opportunities and market dynamics within key product categories
* Gain insights into key regulations governing the South Korean insurance industry and its impact on companies and the market's future

Companies Mentioned in this Report: Korean Reinsurance Company, Munich Reinsurance Company, Swiss Reinsurance Company

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