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Taiwan Insurance Report Q1 2016

  • January 2016
  • -
  • Business Monitor International
  • -
  • 68 pages

BMI View: The Taiwanese life insurance market is well developed, with penetration and density rates thatamong the world's highest, reflecting the established role the sector plays in citizens' late-life planning andretirement needs. Life insurance premiums are expected to continue to grow throughout the forecast period,supported by domestic economic growth and rising rates of private financial consumption, though we notethat over the longer term a shrinking working age population and higher proportion of retirees will placepressure on the profitability of life insurance providers. Although some recent financial market troubles arenotable, Taiwan remains an attractive investment destination overall and is less risky relative to many of itsregional neighbours. Non-life insurance sector growth is primarily being driven by health insurancethrough 2019 and most other subsectors will exhibit little to no growth through 2016.

Key Updates & Forecasts:

- The third quarter of 2015 returned lackluster results in financial markets and the global economy.Continued economic troubles in China will be a drag on Taiwan's economy, resulting in downgrades toour 2015 projections in many insurance lines. We anticipate that these troubles will continue tonegatively impact investment returns in the life insurance sector, as well as premium growth in the nonlifesector in 2016, aside from health insurance.

- Overall, the proportion of health insurance to total non-life premiums will continue to rise overall and weare expecting consolidation in the industry as a whole amongst smaller providers.

Table Of Contents

Taiwan Insurance Report Q1 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Taiwan 2012-2019) 7
SWOT 9
Industry Forecast 11
Life Premiums Forecast 11
Table: Life Premiums (Taiwan 2012-2019) 14
Table: Life Insurance Claims (Taiwan 2007-2014) 14
Non-Life Premiums Forecast 15
Table: Non-Life Premiums (Taiwan 2012-2019) 18
Table: Non-Life Insurance Claims (Taiwan 2008-2014) 19
Non-Life Sub-Sector Forecast 20
Table: Non-Life Insurance Premiums by Product Line (Taiwan 2012-2019) 29
Insurance Risk/Reward Index 31
Asia Pacific Industry Risk/Reward Index 31
Table: Asia Pacific Insurance Risk/Reward Index 32
Market Overview 33
Life Market Overview 33
The Product Offering 33
The Competitive Landscape 34
Table: Life Insurance Market (USDmn) 2007-2013 36
Table: Life Insurance Market (%) 2007-2013 37
Non Life Market Overview 38
The Product Offering 38
The Competitive Landscape 38
Table: Non Life Insurance Market (USDmn) 2007-2013 40
Table: Non Life Insurance Market (%) 2007-2013 41
Company Profile 42
Allianz 42
Cathay Financial Holdings (Cathay Life/Cathay Century) 45
China Life (Taiwan) 49
Chunghwa Post 52
Fubon Financial (Fubon Life/Fubon Insurance) 54
Nan Shan Life 57
Shin Kong Financial Holding (Shin Kong Life) 59
Methodology 62
Industry Forecast Methodology 62
Risk/Reward Index Methodology 65
Table: Indicators 67
Table: Weighting of Indicators 68

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