DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/zhv47f/reinsurance_in) has announced the addition of the "Reinsurance in South Korea, Key Trends and Opportunities to 2018" report to their offering.
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 segment's gross written premium grew from KRW13.8 trillion (US$10.8 billion) in 2009 to KRW15.8 trillion (US$14.4 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 segment's growth during the review period.
Key Topics Covered:
1 Key Facts and Events
2 Executive Summary
4 South Korean Insurance Industry Attractiveness
5 Reinsurance Growth Dynamics and Challenges
6 Key Industry Drivers
7 Competitive Landscape and Strategic Insights
- Korean Re
- Swiss Re
- Munich Re
- Scor Re
- Gen Re
- Hannover Re
- Tokio Marine
- AIG UG
For more information visit http://www.researchandmarkets.com/research/zhv47f/reinsurance_in