(MENAFN) A research institute said that S. Korea's insurance industry grew 5.9% last year, due to a rise in life and non-life insurance premiums. Also, local insurance companies received a total of 313tr won in premiums last year, comparing with 295tr won collected during 2014.
In details, figures showed insurance premiums paid to the National Pension Service, the Korea Trade Insurance Corp. and five other state-run insurance companies.
By sector, life and non-life insurance companies collected 197.19tr won in premiums last year, while other seven state-run institutions was their combined premiums collection rise 6.8% to reach 115.9tr won.
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