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  4. > Taiwan Insurance Report Q4 2015

Taiwan Insurance Report Q4 2015

  • October 2015
  • -
  • Business Monitor International
  • -
  • 81 pages

Includes 3 FREE quarterly updates

BMI View: Taiwan's insurance market is large, well developed and home to major domestic firms whichenjoy a high level of capitalisation, strong brand presence and industry expertise. Local subsidiaries ofmajor multinationals have also established a strong hold of the market and, despite the already high level ofcompetition, scope for further expansion remains. Both the life and non-life sector are expected to showgrowth over the forecast period, though the life sector will continue to dominate in terms of density andmarket penetration.

In 2015 we expect the life sector to grow by around 3% in US dollar terms, with growth in local currencyterms stronger at 7%. Taiwan's life insurers are reporting healthy growth in premium sales, particularly interms of unit linked products. As such, penetration is expected to increase slightly, to 15.3%, one of thehighest rates globally. Density is also high, with premiums of USD3,479 per capita in 2015. Life insuranceis already well established as an organised savings tool in Taiwan, and the leading insurers continue todevelop more innovate products, including those linked with health insurance, in order to drive growth.

Table Of Contents

Taiwan Insurance Report Q4 2015
BMI Industry View 7
SWOT 9
Political 11
Economic 12
Operational Risk 13
Industry Forecast 15
Life Premiums Forecast 15
Total Life Premiums 16
Table: Gross Life Premiums Written (Taiwan 2012-2019) 17
Life Insurance Claims 17
Table: Life Insurance Claims (Taiwan 2007-2014) 18
Life Insurance Assets 18
Table: Assets (Taiwan 2007-2014) 18
Life Insurance Drivers 19
Table: Life Expectancy by Gender (Taiwan 2012-2019) 19
Table: Demographic Breakdown (Taiwan 2012-2019) 20
Non-Life Premiums Forecast 21
Non-Life Premiums 21
Table: Gross Non-Life Premiums Written (Taiwan 2012-2019) 23
Table: Net Non-Life Premiums Written (Taiwan 2012-2019) 24
Table: Reinsurance Non-Life Premiums Written (Taiwan 2012-2019) 25
Non-Life Claims 25
Table: Non-Life Insurance Claims (Taiwan 2007-2014) 25
Table: Non-Life Insurance Claims by Line (Taiwan 2007-2014) 26
Non-Life Insurers' Assets 27
Table: Assets (Taiwan 2007-2014) 27
Non-Life Sub-Sector Forecast 28
Table: Non-Life % Breakdown (Taiwan 2012-2019) 29
Motor and Transport Insurance 29
Table: Motor Vehicle Insurance (Taiwan 2012-2019) 30
Table: Insurance Key Drivers, Autos (Taiwan 2012-2019) 30
Table: Transport Insurance (Taiwan 2012-2019) 31
Table: Insurance Key Drivers, Freight Tonnage (Taiwan 2012-2019) 32
Property Insurance 32
Table: Property Insurance (Taiwan 2012-2019) 33
Health and Personal Accident Insurance 33
Table: Health Insurance (Taiwan 2012-2019) 34
Table: Insurance Key Drivers, Private Health Expenditure (Taiwan 2012-2019) 35
Table: Personal Accident Insurance (Taiwan 2012-2019) 36
Credit and General Liability Insurance 36
Table: Credit/Financial Guarantee Insurance (Taiwan 2012-2019) 37
Table: General Liability Insurance (Taiwan 2012-2019) 38
Industry Risk Reward Ratings 39
Asia Pacific Industry Risk/Reward Index 39
Table: Asia Pacific Insurance Risk/Reward Index 40
Market Overview 41
Life Market Overview 41
The Product Offering 41
The Competitive Landscape 42
Table: Life Insurance Market (USDmn) 2007-2013 44
Table: Life Insurance Market (%) 2007-2013 45
Non Life Market Overview 46
The Product Offering 46
The Competitive Landscape 46
Table: Non Life Insurance Market (USDmn) 2007-2013 48
Table: Non Life Insurance Market (%) 2007-2013 49
Company Profile 50
Allianz 50
Cathay Financial Holdings (Cathay Life/Cathay Century) 53
China Life (Taiwan) 57
Chunghwa Post 60
Fubon Financial (Fubon Life/Fubon Insurance) 62
Nan Shan Life 65
Shin Kong Financial Holding (Shin Kong Life) 67
Demographic Forecast 70
Table: Population Headline Indicators (Taiwan 1990-2025) 71
Table: Key Population Ratios (Taiwan 1990-2025) 72
Table: Urban/Rural Population and Life Expectancy (Taiwan 1990-2025) 72
Table: Population By Age Group (Taiwan 1990-2025) 72
Table: Population By Age Group % (Taiwan 1990-2025) 73
Methodology 75
Industry Forecast Methodology 75
Risk/Reward Index Methodology 78
Table: Indicators 80
Table: Weighting of Indicators 81

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