분야
pptx2.Non-Life Insurance companies in Korea
● Non life insurance in Korea has the history of about 49 years, at first Chosen Fire and Marine Insurance Company was established in 1922.
● After the last world war, a number of insurance companies were founded to carry on fire or marine insurance, and some companies gradually extended their activities to a host of other kinds of non-life insurance like automobile insurance in nine companies
. ● Currently, Korea’s non-life insurance sector is comprised of 32 insurers, including 7 reinsurers.
● South Korea auto insurance industry has always been an important part of its overall insurance business.
● Number of premiums written in South Korea automobile insurance industry has grown at a rate of more than 18 percent since 1983
monopolized South Korean insurance market was made accessible to liability and property insurance companies.
● There are certain important factors behind this quick rise ofautomobile insurance industry of South Korea like sudden increase in use of cars in South Korea and mandatory automobile liability insurance policies.
● In 2005 auto insurance industry in South Korea amounted for 35.2 percent of direct premiums.
