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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the South Korean non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in South Korea's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the South Korea non-life (P&C) market as well as trends by line of business. Axco analysts also report on South Korea's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes South Korean insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in South Korea, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in South Korea, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in South Korea with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
According to the regulator market gross non-life premium income (including PA and healthcare written by non-life companies) increased by 30.44% in 2019 to reach LAK 629.30bn (USD 71.22mn), after reducing by 15.26% in 2017 and increasing by just 1.70% in 2018.
Non-life premium volume in Laos is largely composed of construction/engineering and fire (property) business ....
This is a brief extract of information; more updated information may be available in the latest published report.
