Country Profile

Country ProfilesCountry Profiles provides individual summaries for Lloyd’s key territories. These profiles contain factsheets on the economy, insurance market and Lloyd’s business.

If you wish to access the document please email Market Intelligence at WMID@lloyds.com.

South Korea Country Profile (Jul-2016)

Market Presentations

Market Presentations

Market Presentations contain local insights offered by Lloyd’s Country Managers on opportunities and challenges for Lloyd's in their markets.

If you wish to access the document please email Market Intelligence at WMID@lloyds.com.

South Korea Market Presentation (Nov-2017)

Class Review

Class reviewClass Review is Lloyd’s newest report that, for the first time, offers benchmarking analysis comparing Lloyd’s business with its competitors in key territories, broken down by specialty class of business.

 Please be aware that we have now password protected all documents. If you wish to access the documents please email Market Intelligence at WMID@lloyds.com.

Key findings of the report stand out: 

  • The dominance of Korean Re to the reinsurance market;
  • The dominance of the four large domestic companies – the “chaebols” with nearly 70% market share of the direct insurance market;
  • The relatively small but developing role of brokers in the commercial classes;
  • The increasing regulatory activity in the Korean market, with the enforcement in late 2013 of the ruling that offshore reinsurers cannot visit
  • Korea to meet with ceding companies.

For Managing Agents:

South Korea Class Review

For Brokers:

South Korea Class Review

 


MI Analyst

Shruti Sharma

Analyst, Market Intelligence

t: +44 (0)20 7327 6209
Shruti.Sharma@lloyds.com

Useful Links

South Korea Financial Services Regulator:

FSC

South Korea Insurance Association (Non-Life):

GIAK

 

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