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Non-Life Insurance Market Thriving in South Korea

The non-life insurance companies in South Korea is growing at a good pace, mainly through long-term Insurance and Car Insurance driven. As a result, the share of non-life insurance of 30.33% in FY 2007 to an estimated 33.23% in FY 2008th In addition, the sector expected at an average growth rate of over 9% growth between FY 2009 and FY 2012, as demand for several years in the Private Health Insurance.

We have found that long-term insurance sector steadily in South Korea, which is about 50% of the total direct premiums collected. Premiums are projected to grow at an annual growth rate of over 6% in FY 2009 FY to 2012th The ongoing demand for retirement protection type products and as health insurance, including Accident or sickness, medical expenses and coverage products are expected to accelerate this growth.

Moreover, premiums collected in the motor vehicle insurance increased at a CAGR of over 10% between FY 2005 and fiscal 2008 as a result of increase in imported car sales amid the shifting of the automotive market for high-end and large car segments. In addition, during the forecast period (FY 2009 - FY 2012), premiums can be expected to at a CAGR of over 15% of economic Growing recession fades. Consequently, there will be an increase in passenger car sales in the last years of the forecast period.

To better assess the future success the non-life insurance in the South Korean insurance market, in our report "South Korean Insurance Industry Forecast 2012 "Provides results and analysis of various non-life insurance such as fire insurance, marine insurance, guarantee insurance, accident insurance, car insurance, Insurance and long-term private pension insurance.

In addition to this, since deregulation in 1987, the non-life insurance sector has many new entrants seen. However, dominating the first four - Samsung Fire & Marine, Hyundai Fire & Marine, Dongbu Fire & Marine Insurance and LIG - yet the market that around 68% of all Non-life insurance assets at the end of 2008.

Free sample of this report is available at: http://www.rncos.com/Report/IM217.htm

Check DISCOUNTED reports: http://www.rncos.com

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

Asian Markets Overview of March 10, 2010