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Synopsis
Timetric’s 'Life Insurance in Taiwan Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Taiwanese life insurance segment, and a comparison of the Taiwanese insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Taiwanese economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Life Insurance in Taiwan Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Taiwanese life insurance segment, including:

- An overview of the Taiwanese life insurance segment

- The Taiwanese life insurance segment’s growth prospects by category

- A comprehensive overview of the Taiwanese economy and demographics

- A comparison of the Taiwanese life insurance segment with its regional counterparts

- The various distribution channels in the Taiwanese life insurance segment

- Details of the competitive landscape in the life insurance segment in Taiwan

- Details of regulatory policy applicable to the Taiwanese insurance industry

Scope
This report provides a comprehensive analysis of the life insurance segment in Taiwan:

- It provides historical values for the Taiwanese life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Taiwanese life insurance segment, and market forecasts to 2020.

- It provides a comparison of the Taiwanese life insurance segment with its regional counterparts

- It analyzes the various distribution channels for life insurance products in Taiwan.

- It profiles the top life insurance companies in Taiwan and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Taiwanese life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Taiwanese life insurance segment.

- Assess the competitive dynamics in the life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Taiwanese insurance industry, and their impact on companies and the industry's future.

Key Highlights
- According to Timetric research, insurance penetration in Taiwan stood at 18.3% in 2015, one of the largest rates in the world.

- In March 2016, the Financial Supervisory Commission (FSC) increased the overseas investment cap for insurers from 10% to 30%.

-In April 2014, the FSC allowed life insurers to issue Chinese renminbi-denominated insurance policies in mainland China. In June 2015, the FSC allowed domestic insurers to establish branches or subsidiaries in Hong Kong and Macau.

- Whole life was the leading category, accounting for 87% of the life gross written premium in 2015.

- The Taiwanese life insurance segment is mature, consolidated and competitive, with the top 10 insurers accounting for 87.5% of the segment’s gross written premium in 2015. Bancassurance was the leading distribution channel in 2015, followed by direct marketing. The channels together accounted for 94.6% of the segment’s new business direct written premium in 2015.

Table Of Contents

Life Insurance in Taiwan, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Assets and investments
5 Outlook by Sub-Segment
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Policies sold
5.1.3 Penetration
5.2 Group Life Insurance
5.2.1 Premium
5.2.2 Policies sold
5.2.3 Penetration
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Cathay Life Insurance Company Ltd - company overview
7.1.2 Fubon Life Insurance Co., Ltd - company overview
7.1.3 Nan Shan Life Insurance Company, Ltd - company overview
7.1.4 Shin Kong Life Insurance Co., Ltd - company overview
7.1.5 Chunghwa Post Co., Ltd - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Automobile liability insurance
8.4.2 National Health Insurance (NHI)
8.4.3 Operators' liability insurance for vessel carrier
8.5 Supervision and Control
8.5.1 Insurance Bureau
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)
9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Direct Marketing and E-Commerce
9.5 Insurance Brokers and Agencies
9.6 Bancassurance and Other Distribution Channels
9.7 Individual Life Insurance
9.8 Individual Life Insurance by Product
9.9 Group Life Insurance
9.1 Group Life Insurance by Product
9.11 Linked vs. Non-Linked Policies
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer

List of Tables
Table 1: Taiwanese Life Insurance - Key Facts, 2015
Table 2: Taiwanese Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Taiwanese Government Credit Ratings
Table 4: Taiwanese Life Insurance - Gross Written Premium (TWD Trillion and US$ Billion), 2011-2015
Table 5: Taiwanese Life Insurance - Penetration (%), 2011-2015
Table 6: Taiwanese Life Insurance - Gross Written Premium (TWD Trillion and US$ Billion), 2015-2020
Table 7: Taiwanese Life Insurance - Penetration (%), 2015-2020
Table 8: Taiwanese Life Insurance - New Business Direct Written Premium (TWD Billion and US$ Billion), 2011-2015
Table 9: Taiwanese Life Insurance - New Business Direct Written Premium (TWD Billion and US$ Billion), 2015-2020
Table 10: Taiwanese Life Insurance - Premium per Capita (TWD and US$), 2011-2015
Table 11: Taiwanese Life Insurance - Premium per Capita (TWD and US$), 2015-2020
Table 12: Taiwanese Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 13: Taiwanese Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 14: Taiwanese Life Insurance - Paid Claims (TWD Trillion and US$ Billion), 2011-2015
Table 15: Taiwanese Life Insurance - Paid Claims (TWD Trillion and US$ Billion), 2015-2020
Table 16: Taiwanese Life Insurance - Total Assets (TWD Trillion and US$ Billion), 2011-2015
Table 17: Taiwanese Life Insurance - Total Assets (TWD Trillion and US$ Billion), 2015-2020
Table 18: Taiwanese Life Insurance - Total Investment Income (TWD Billion and US$ Billion), 2011-2015
Table 19: Taiwanese Life Insurance - Total Investment Income (TWD Billion and US$ Billion), 2015-2020
Table 20: Taiwanese Life Insurance - Investment Portfolio (TWD Trillion), 2011-2015
Table 21: Taiwanese Life Insurance - Investment Portfolio (TWD Trillion), 2015-2020
Table 22: Taiwanese Life Insurance - Direct Written Premium by Sub-Segment (TWD Billion),2011-2015
Table 23: Taiwanese Life Insurance - Direct Written Premium by Sub-Segment (TWD Billion), 2015-2020
Table 24: Taiwanese Individual Life Insurance - Direct Written Premium by Category (TWD Billion), 2011-2015
Table 25: Taiwanese Individual Life Insurance - Direct Written Premium by Category (TWD Billion), 2015-2020
Table 26: Taiwanese Individual Life Insurance - Number of Policies Sold by Category (Million), 2011-2015
Table 27: Taiwanese Individual Life Insurance - Number of Policies Sold by Category (Million), 2015-2020
Table 28: Taiwanese Group Life Insurance - Direct Written Premium by Category (TWD Billion), 2011-2015
Table 29: Taiwanese Group Life Insurance - Direct Written Premium by Category (TWD Billion), 2015-2020
Table 30: Taiwanese Group Life Insurance - Number of Policies Sold by Category (Million), 2011-2015
Table 31: Taiwanese Group Life Insurance - Number of Policies Sold by Category (Million), 2015-2020
Table 32: Taiwanese Life Insurance - Direct Written Premium by Distribution Channel (TWD Billion), 2011-2015
Table 33: Taiwanese Life Insurance - Direct Written Premium by Distribution Channel (TWD Billion), 2015-2020
Table 34: Taiwanese Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
Table 35: Taiwanese Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 36: Cathay Life Insurance Company Ltd - Key Facts
Table 37: Cathay Life Insurance Company Ltd - Key Financials (TWD Billion), 2011-2015
Table 38: Fubon Life Insurance Co., Ltd - Key Facts
Table 39: Fubon Life Insurance Co., Ltd - Key Financials (TWD Billion), 2011-2015
Table 40: Nan Shan Life Insurance Company, Ltd - Key Facts
Table 41: Nan Shan Life Insurance Company, Ltd - Key Financials (TWD Billion), 2011-2015
Table 42: Shin Kong Life Insurance Co., Ltd - Key Facts
Table 43: Shin Kong Life Insurance Co., Ltd - Key Financials (TWD Billion), 2011-2015
Table 44: Chunghwa Post Co., Ltd - Key Facts
Table 45: Chunghwa Post Co., Ltd - Key Financials (TWD Billion), 2011-2015
Table 46: Taiwan - Insurance Regulatory Framework Key Features
Table 47: Taiwan - Life Insurance Regulatory Framework
Table 48: Taiwan - Property Insurance Regulatory Framework
Table 49: Taiwan - Motor Insurance Regulatory Framework
Table 50: Taiwan - Liability Insurance Regulatory Framework
Table 51: Taiwan - Premium Rates for Third-Party Liability Insurance - Motorcycles
Table 52: Taiwan - Premium Rates for Third-Party Liability Insurance - Motor Vehicles
Table 53: Taiwan - Corporate Tax Rates for the Financial Year 2016
Table 54: Taiwanese Life Insurance - Policies and Premium, 2011-2015
Table 55: Taiwanese Life Insurance - Policies and Premium, 2015-2020
Table 56: Taiwanese Life Insurance - Claims and Expenses, 2011-2015
Table 57: Taiwanese Life Insurance - Claims and Expenses, 2015-2020
Table 58: Taiwanese Life Insurance - Assets and Investments, 2011-2015
Table 59: Taiwanese Life Insurance - Assets and Investments, 2015-2020
Table 60: Taiwanese Life Insurance - Direct Marketing and E-Commerce, 2011-2015
Table 61: Taiwanese Life Insurance - Direct Marketing and E-Commerce, 2015-2020
Table 62: Taiwanese Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 63: Taiwanese Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 64: Taiwanese Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 65: Taiwanese Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 66: Taiwanese Life Insurance - Individual Life Insurance, 2011-2015
Table 67: Taiwanese Life Insurance - Individual Life Insurance, 2015-2020
Table 68: Taiwanese Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 69: Taiwanese Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 70: Taiwanese Life Insurance - Group Life Insurance, 2011-2015
Table 71: Taiwanese Life Insurance - Group Life Insurance, 2015-2020
Table 72: Taiwanese Life Insurance - Group Life Insurance by Product, 2011-2015
Table 73: Taiwanese Life Insurance - Group Life Insurance by Product, 2015-2020
Table 74: Taiwanese Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
Table 75: Taiwanese Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
Table 76: Insurance Industry Definitions



List of Figures
Figure 1: Taiwanese GDP composition, 2015
Figure 2: Taiwanese Real GDP (TWD Trillion), 2011-2020
Figure 3: TWD-US$ Exchange Rate, 2011-2020
Figure 4: Taiwanese Current Account Balance as Percentage of GDP (%), 2011-2020
Figure 5: Taiwanese Consumer Price Inflation (%), 2011-2020
Figure 6: Taiwanese unemployment rate (Percentage of Total Population), 2011-2020
Figure 7: Taiwanese Population by Age Group, 1990-2025
Figure 8: Taiwanese Life Expectancy, 2011-2020
Figure 9: Taiwanese Life Insurance Penetration - Regional Comparison (%), 2015
Figure 10: Taiwanese Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 11: Taiwanese Life Insurance - Gross Written Premium (TWD Trillion), 2011-2020
Figure 12: Taiwanese Life Insurance - Penetration (%), 2011-2020
Figure 13: Taiwanese Life Insurance - New Business Direct Written Premium (TWD Billion), 2011-2020
Figure 14: Taiwanese Life Insurance - Premium per Capita (TWD), 2011-2020
Figure 15: Taiwanese Life Insurance - Number of Policies Sold (Million), 2011-2020
Figure 16: Taiwanese Life Insurance - Paid Claims (TWD Trillion), 2011-2020
Figure 17: Taiwanese Life Insurance - Total Assets (TWD Trillion), 2011-2020
Figure 18: Taiwanese Life Insurance - Total Investment Income (TWD Billion), 2011-2020
Figure 19: Taiwanese Life Insurance - Investment Portfolio (TWD Trillion), 2011-2020
Figure 20: Taiwanese Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 21: Taiwanese Life Insurance - Direct Written Premium by Sub-Segment (TWD Billion), 2011-2020
Figure 22: Taiwanese Life Insurance - Direct Written Premium Dynamics by Sub-Segment, 2011-2020
Figure 23: Taiwanese Individual Life Insurance - Direct Written Premium by Category (TWD Billion), 2011-2020
Figure 24: Taiwanese Individual Life Insurance - Direct Written Premium Share by Category, 2011-2020
Figure 25: Taiwanese Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 26: Taiwanese Individual Life Insurance - Number of Policies Sold by Category (Million), 2011-2020
Figure 27: Taiwanese Individual Life Insurance - Penetration (%), 2011-2015
Figure 28: Taiwanese Individual Life Insurance - Penetration (%), 2015-2020
Figure 29: Taiwanese Group Life Insurance - Direct Written Premium by Category (TWD Billion), 2011-2020
Figure 30: Taiwanese Group Life Insurance - Number of Policies Sold by Category (Million), 2011-2020
Figure 31: Taiwanese Group Life Insurance - Penetration (%), 2011-2015
Figure 32: Taiwanese Group Life Insurance - Penetration (%), 2015-2020
Figure 33: Taiwanese Life Insurance - Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020
Figure 34: Taiwanese Insurance Industry - Market Shares of Leading Insurers (%), 2015
Figure 35: Taiwan - Insurance Regulatory Frameworks for Company Registration and Operation

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