1.  Korean reinsurance/insurance market

2. ONSCREEN  Contents I. Korean Reinsurance Market II. Korean Insurance Market

3. ONSCREEN  I. Korean Reinsurance Market

4. ONSCREEN  Sub Contents  Korean Reinsurance Market  Relationship between Korean Re and Korean Insurance Companies

5. ONSCREEN  Korean Reinsurance Market  Korean Re: A- rating by S&P and A by AM Best  Samsung: A+ by S&P  Hyundai, Dongbu, LIG, Meritz: A- by S&P  Seoul Guaranty Insurance: A by S&P  Korean Re and Samsung takes inward reinsurance but others take some reinsurance related to Korean Interest Abroad.  Mainly Korean insurers buy reinsurance with reinsurers in Korea and reinsurers in Asia. For big capacity, Korean market use London market.

6. ONSCREEN  Relationship between Korean Re and Korean Insurance Companies  There was a gentleman ship agreement between Korean Re and Korean Insurance companies.  With split of Hyundai Group, LG Group, Ssangyong Group, the agreement does not exist any more.  Despite no more gentleman ship agreement, still Korean insurance companies use Korean Re as a leading reinsurer.  Engineering (CAR, EAR) reinsurance For Korean domestic engineering reinsurance, without exception, almost all Korean insurance companies use only Korean Re’s quote. (Lucky draw)  Korean Re supports almost all new insurance products that Korean insurance companies have difficulty in getting reinsurance support from int’l reinsurance market.

7. ONSCREEN  II. Korean Insurance Market

8. ONSCREEN  Sub Contents  Korean insurance market summary  Insurance for market promotion tool

9. ONSCREEN  Korean Insurance Market Summary  Life Insurance There are more than 20 life insurance companies. 3 major banks own their life insurance companies mainly for Bancassurance. 3 Major life insurance companies market share is approximately 60%. Major life insurance companies plan to open branch or set up JV in abroad.  Guaranty Insurance Company Only Seoul Guaranty insurance company can do guaranty insurance business. It is the 4 th largest guaranty insurance company in the world.

10. ONSCREEN  Korean Insurance Market Summary  Non-life insurance company There are 9 domestic and 4 foreign insurance companies. 4 majors market share is approximately 60%. There is a severe competition. Almost they get reinsurance support from int’l market for the tender. In general, 30% leading line by at least A- rating reinsurer is a tender rule.

11. ONSCREEN  Insurance for market promotion tool  Over Redemption insurance by Car seller Own Car Damage due to car accident for one year, the car seller changes the car with new car.  Hospital expense by Mobile Phone Company If any hospitalization expenses, the mobile phone company pays the hospitalization expense to the subscriber up to USD30Mi.  Emergency service for car driver Tire change, gas supply, battery change, door unlock, etc 1