VIEWS: 10 PAGES: 104 CATEGORY: Research Reports POSTED ON: 3/1/2012
The absence of any large natural disasters in South Korea meant no major losses were recorded in the insurance industry during the review period. The premium retained by insurers increased, resulting in high competition over reinsurance premium rates. As a result, the South Korean reinsurance segment did not register a steep growth in premium rates, especially when compared to other developed countries such as Japan and the US. A recovering economy means South Korea's reinsurance segment is expected to record growth similar to that expected in the rest of the Asia-Pacific region.
"Reinsurance in South Korea, Key Trends and Opportunities to 2016"