The size of the child insurance market in Korea has more than doubled over the past decade. The initial premiums of child insurance products sold by the country's four biggest non-life insurers increased to KRW 3.4 billion on average per month in 2016 from KRW 1.5 billion in 2005.
This growth trend reflects the rising interest among parents in the coverage of common childhood diseases and medical conditions. Child insurance plans generally cover illnesses, injuries and personal accidents of a child, and there are some policies that offer a wider range of coverage including mental illness and dental care as well as oriental herbal treatment.
Child insurance is available to children under the age of 15. Hyundai Marine and Fire Insurance has the biggest market share of 38.9% in terms of initial premiums of child insurance between January and September of 2016, followed by KB Insurance at 26.8% and Samsung Fire and Marine Insurance at 17.2% and Dongbu Insurance at 17.1%.
Korean Reinsurance Company published this content on 12 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 January 2017 01:40:02 UTC.
Original documenthttp://eng.koreanre.co.kr/sub.asp?maincode=501&sub_sequence=519&sub_sub_sequence=575&exec=view&strBoardID=kui_575&intPage=1&intCategory=0&strSearchCategory=|s_name|s_subject|&strSearchWord=&intSeq=1363
Public permalinkhttp://www.publicnow.com/view/5841C2C470C4AED1C5D3E069EC9798EAF95A9EB4
