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Taiwan Insurance Report Q3 2016

  • July 2016
  • -
  • Business Monitor International
  • -
  • 64 pages

Includes 3 FREE quarterly updates

BMI View: Slowing economic activity in the Asia Pacific region prompted us to revise down our 2016forecasts for premiums for both Taiwan's life and non-life sector in Q2. This outlook is set to continueowing to relatively stable economic forecasts for China and the Asia-Pacific region over the coming years.Life insurance will continue to drive growth in Taiwan's insurance market owing to an ageing populationand rising savings. In the non-life sector, health insurance will be the key driver of growth, particularly asthe government pushes the need for compulsory health insurance.Key Updates And Forecasts

- Taking into consideration the results announced by the leading financial holding companies in relation to2015 (or periods to September), we estimate growth in life and non-life premiums of 5.7% and 4.4%respectively for 2015 in local currency. Premiums in the two major segments are forecast to increase by2.4% and 6.4% respectively in 2016.

- Particular companies have enjoyed considerably greater growth in first-year premiums as a result oftargeted sales/marketing strategies. Some companies have been affected by the volatility in globalfinancial markets. However, many have restructured their balance sheets to reduce risk and/or to improveinterest income spreads.

- Demographic changes and marketing initiatives mean that several of the leading insurance groups areenjoying strong growth in sales of health and long-term care products.

- Total gross premiums written are expected to grow by 3.1% in 2016 to TWD3,158bn.

Table Of Contents

Taiwan Insurance Report Q3 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Taiwan 2013-2020) 7
Insurance 8
Industry Forecast 10
Life Premiums Forecast 10
Table: Life Premiums (Taiwan 2013-2020) 13
Table: Life Insurance Claims (Taiwan 2008-2015) 13
Non-Life Premiums Forecast 14
Table: Non-Life Premiums (Taiwan 2013-2020) 16
Table: Non-Life Insurance Claims (Taiwan 2009-2015) 18
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums by Product Line (Taiwan 2013-2020) 26
Insurance Risk/Reward Index 28
Asia Pacific Industry Risk/Reward Index 28
Table: Asia Pacific Insurance Risk/Reward Index Q316 29
Market Overview 30
Life Market Overview 30
Product Offering 30
Competitive Landscape 31
Table: Life Insurance Market, 2007-2013 (USDmn) 32
Non-Life Market Overview 34
Product Offering 34
Competitive Landscape 34
Table: Non Life Insurance Market, 2007-2013 (USDmn) 36
Company Profile 38
Allianz 38
Cathay Financial Holdings (Cathay Life/Cathay Century) 41
China Life (Taiwan) 45
Chunghwa Post 48
Fubon Financial (Fubon Life/Fubon Insurance) 50
Nan Shan Life 53
Shin Kong Financial Holding (Shin Kong Life) 55
Methodology 58
Industry Forecast Methodology 58
Risk/Reward Index Methodology 61
Table: Indicators 63
Table: Weighting of Indicators 64

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