In 2022, life and non-life insurance penetration in South Korea reached about 11.1 percent, which was an increase compared to the previous year. While previously life insurance had a higher penetration rate, non-life insurance has now surpassed that.
Penetration rate of insurance in South Korea from 2016 to 2022, by type of insurance
Characteristic
Life
Non-life
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Korea Insurance Research Institute. (September 30, 2023). Penetration rate of insurance in South Korea from 2016 to 2022, by type of insurance [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1306018/south-korea-insurance-penetration-by-type-of-insurance/
Korea Insurance Research Institute. "Penetration rate of insurance in South Korea from 2016 to 2022, by type of insurance." Chart. September 30, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1306018/south-korea-insurance-penetration-by-type-of-insurance/
Korea Insurance Research Institute. (2023). Penetration rate of insurance in South Korea from 2016 to 2022, by type of insurance. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1306018/south-korea-insurance-penetration-by-type-of-insurance/
Korea Insurance Research Institute. "Penetration Rate of Insurance in South Korea from 2016 to 2022, by Type of Insurance." Statista, Statista Inc., 30 Sep 2023, https://www.statista.com/statistics/1306018/south-korea-insurance-penetration-by-type-of-insurance/
Korea Insurance Research Institute, Penetration rate of insurance in South Korea from 2016 to 2022, by type of insurance Statista, https://www.statista.com/statistics/1306018/south-korea-insurance-penetration-by-type-of-insurance/ (last visited July 22, 2024)
Penetration rate of insurance in South Korea from 2016 to 2022, by type of insurance [Graph], Korea Insurance Research Institute, September 30, 2023. [Online]. Available: https://www.statista.com/statistics/1306018/south-korea-insurance-penetration-by-type-of-insurance/