Life insurance growth supported by reforms and technology
The life insurance segment is expected to grow somewhat faster than general insurance over the next several years. According to GlobalData, life DWP in South Korea is projected to rise from KRW188.2 trillion (US$140.2 billion) in 2025 to KRW234.3 trillion (US$174.4 billion) in 2030, implying a CAGR of 4.5% between 2025 and 2030. Growth in 2025 is estimated at 3.8%, supported by demand for health-related life products, pensions and protection-oriented covers. For insurance professionals in Asia, South Korea’s move to lengthen commission payout periods, extend the 1,200% cap to GA agents, increase disclosure, and formalize product governance provides a detailed case study of how intermediary incentives, policy retention, and consumer outcomes are being addressed through regulation in a major regional market.