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

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazard and their impact on the Taiwanese insurance industry, 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 'Non-Life Insurance in Taiwan Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Taiwanese non-life insurance segment, including:

- The Taiwanese non-life segment’s detailed outlook by product category

- A comprehensive overview of the Taiwanese economy and demographics

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

- The various distribution channels in the Taiwanese non-life insurance segment

- Detailed analysis of natural hazards and their impact on the Taiwanese insurance industry

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

- Details of regulatory policy applicable to the Taiwanese insurance industry

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

- It provides historical values for the Taiwanese non-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 non-life insurance segment, and market forecasts to 2020.

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

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

- It analyzes various natural hazards and their impact on the Taiwanese insurance industry

- It profiles the top non-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 non-life insurance segment, and each category within it.

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

- Assess the competitive dynamics in the non-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
- Farm insurance, which was proposed by the government in August 2015, was introduced by the end of 2015. This covers agricultural produce and agricultural equipment.

- Taiwan’s non-life segment accounted for 27.8% of the industry's gross written premium in 2015.

- In June 2015, the FSC introduced a regulation allowing domestic insurers to establish branches or subsidiaries in Hong Kong and Macau.

- Non-life segment is dominated by the motor insurance category, which accounted for 61.2% of the segment’s gross written premium in 2015. A low penetration rate of 0.7% offers opportunity for growth over the forecast period.

- Taiwanese non-life segment is highly consolidated, with the top 10 companies accounting for 88.2% of the gross written premium in 2015.


Table Of Contents

Non-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 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies sold
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability
6 Distribution Channel Outlook
7 Natural and Man-Made Hazards
7.1 Earthquakes
7.2 Typhoons and Storms
7.3 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 Fubon Insurance Company Ltd - company overview
8.1.2 Cathay Century Insurance Co., Ltd - company overview
8.1.3 Shinkong Insurance Co., Ltd - company overview
8.1.4 MSIG Mingtai Insurance Co., Ltd - company overview
8.1.5 Tokio Marine Newa Insurance Co., Ltd - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Automobile liability insurance
9.4.2 National Health Insurance (NHI)
9.4.3 Operators' liability insurance for vessel carrier
9.5 Supervision and Control
9.5.1 Insurance Bureau
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and Penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margin
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Property Insurance
10.5 Property Insurance by Product
10.6 Motor Insurance
10.7 Motor Insurance by Product
10.8 Liability Insurance
10.9 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer


List of Tables
Table 1: Taiwanese Non-Life Insurance - Key Facts, 2015
Table 2: Taiwanese Non-Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Taiwanese Government Credit Ratings
Table 4: Taiwanese Non-Life Insurance - Gross Written Premium (TWD Billion and US$ Billion), 2011-2015
Table 5: Taiwanese Non-Life Insurance - Penetration (%), 2011-2015
Table 6: Taiwanese Non-Life Insurance - Gross Written Premium (TWD Billion and US$ Billion), 2015-2020
Table 7: Taiwanese Non-Life Insurance - Penetration (%), 2015-2020
Table 8: Taiwanese Non-Life Insurance - Premium per Capita (TWD and US$), 2011-2015
Table 9: Taiwanese Non-Life Insurance - Premium per Capita (TWD and US$), 2015-2020
Table 10: Taiwanese Non-Life Insurance - Paid Claims (TWD Billion and US$ Billion), 2011-2015
Table 11: Taiwanese Non-Life Insurance - Paid Claims (TWD Billion and US$ Billion), 2015-2020
Table 12: Taiwanese Non-Life Insurance - Profitability Ratio (%), 2011-2015
Table 13: Taiwanese Non-Life Insurance - Profitability Ratio (%), 2015-2020
Table 14: Taiwanese Non-Life Insurance - Total Assets (TWD Billion and US$ Billion), 2011-2015
Table 15: Taiwanese Non-Life Insurance - Total Assets (TWD Billion and US$ Billion), 2015-2020
Table 16: Taiwanese Non-Life Insurance - Total Investment Income (TWD Billion and US$ Million), 2011-2015
Table 17: Taiwanese Non-Life Insurance - Total Investment Income (TWD Billion and US$ Million), 2015-2020
Table 18: Taiwanese Non-Life Insurance - Investment Portfolio (TWD Billion), 2011-2015
Table 19: Taiwanese Non-Life Insurance - Investment Portfolio (TWD Billion), 2015-2020
Table 20: Taiwanese Non-Life Insurance - Direct Written Premium by Category (TWD Billion),2011-2015
Table 21: Taiwanese Non-Life Insurance - Direct Written Premium by Category (TWD Billion), 2015-2020
Table 22: Taiwanese Property Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2011-2015
Table 23: Taiwanese Property Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2015-2020
Table 24: Taiwanese Property Insurance - Paid Claims (TWD Billion and US$ Million), 2011-2015
Table 25: Taiwanese Property Insurance - Paid Claims (TWD Billion and US$ Million), 2015-2020
Table 26: Taiwanese Property Insurance - Loss Ratio (%), 2011-2015
Table 27: Taiwanese Property Insurance - Loss Ratio (%), 2015-2020
Table 28: Taiwanese Motor Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2011-2015
Table 29: Taiwanese Motor Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2015-2020
Table 30: Taiwanese Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
Table 31: Taiwanese Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
Table 32: Taiwanese Motor Insurance - Paid Claims (TWD Billion and US$ Billion), 2011-2015
Table 33: Taiwanese Motor Insurance - Paid Claims (TWD Billion and US$ Billion), 2015-2020
Table 34: Taiwanese Motor Insurance - Loss Ratio (%), 2011-2015
Table 35: Taiwanese Motor Insurance - Loss Ratio (%), 2015-2020
Table 36: Taiwanese Liability Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2011-2015
Table 37: Taiwanese Liability Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2015-2020
Table 38: Taiwanese Liability Insurance - Paid Claims (TWD Billion and US$ Million), 2011-2015
Table 39: Taiwanese Liability Insurance - Paid Claims (TWD Billion and US$ Million), 2015-2020
Table 40: Taiwanese Liability Insurance - Loss Ratio (%), 2011-2015
Table 41: Taiwanese Liability Insurance - Loss Ratio (%), 2015-2020
Table 42: Taiwanese Transport Network - Global Rankings, 2013
Table 43: Taiwanese Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2011-2015
Table 44: Taiwanese Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2015-2020
Table 45: Taiwanese Marine, Aviation and Transit Insurance - Paid Claims (TWD Billion and US$ Million), 2011-2015
Table 46: Taiwanese Marine, Aviation and Transit Insurance - Paid Claims (TWD Billion and US$ Million), 2015-2020
Table 47: Taiwanese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
Table 48: Taiwanese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
Table 49: Taiwanese Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 50: Fubon Insurance Company Ltd - Key Facts
Table 51: Fubon Insurance Company Ltd - Key Financials (TWD Billion), 2011-2015
Table 52: Cathay Century Insurance Co., Ltd - Key Facts
Table 53: Cathay Century Insurance Co., Ltd - Key Financials (TWD Billion), 2011-2015
Table 54: Shinkong Insurance Co., Ltd - Key Facts
Table 55: Shinkong Insurance Co., Ltd - Key Financials (TWD Billion), 2011-2015
Table 56: MSIG Mingtai Insurance Co., Ltd - Key Facts
Table 57: MSIG Mingtai Insurance Co., Ltd - Key Financials (TWD Billion), 2011-2015
Table 58: Tokio Marine Newa Insurance Co. Ltd - Key Facts
Table 59: Tokio Marine Newa Insurance Co. Ltd - Key Financials (TWD Billion), 2011-2015
Table 60: Taiwan - Insurance Regulatory Framework Key Features
Table 61: Taiwan - Life Insurance Regulatory Framework
Table 62: Taiwan - Property Insurance Regulatory Framework
Table 63: Taiwan - Motor Insurance Regulatory Framework
Table 64: Taiwan - Liability Insurance Regulatory Framework
Table 65: Taiwan - Premium Rates for Third-Party Liability Insurance - Motorcycles
Table 66: Taiwan - Premium Rates for Third-Party Liability Insurance - Motor Vehicles
Table 67: Taiwan - Corporate Tax Rates for the Financial Year 2016
Table 68: Taiwanese Insurance Industry - Policies and Premium, 2011-2015
Table 69: Taiwanese Insurance Industry - Policies and Premium, 2015-2020
Table 70: Taiwanese Non-Life Insurance - Claims and Expenses, 2011-2015
Table 71: Taiwanese Non-Life Insurance - Claims and Expenses, 2015-2020
Table 72: Taiwanese Non-Life Insurance - Assets and Investments, 2011-2015
Table 73: Taiwanese Non-Life Insurance - Assets and Investments, 2015-2020
Table 74: Taiwanese Non-Life Insurance - Property Insurance, 2011-2015
Table 75: Taiwanese Non-Life Insurance - Property Insurance, 2015-2020
Table 76: Taiwanese Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 77: Taiwanese Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 78: Taiwanese Non-Life Insurance - Motor Insurance, 2011-2015
Table 79: Taiwanese Non-Life Insurance - Motor Insurance, 2015-2020
Table 80: Taiwanese Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 81: Taiwanese Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 82: Taiwanese Non-Life Insurance - Liability Insurance, 2011-2015
Table 83: Taiwanese Non-Life Insurance - Liability Insurance, 2015-2020
Table 84: Taiwanese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 85: Taiwanese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 86: 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 Non-Life Insurance Penetration - Regional Comparison (%), 2015
Figure 10: Taiwanese Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 11: Taiwanese Non-Life Insurance - Gross Written Premium (TWD Billion), 2011-2020
Figure 12: Taiwanese Non-Life Insurance - Penetration (%), 2011-2020
Figure 13: Taiwanese Non-Life Insurance - Premium per Capita (TWD), 2011-2020
Figure 14: Taiwanese Non-Life Insurance - Paid Claims (TWD Billion), 2011-2020
Figure 15: Taiwanese Non-Life Insurance - Profitability Ratio (%), 2011-2020
Figure 16: Taiwanese Non-Life Insurance - Total Assets (TWD Billion), 2011-2020
Figure 17: Taiwanese Non-Life Insurance - Total Investment Income (TWD Billion), 2011-2020
Figure 18: Taiwanese Non-Life Insurance - Investment Portfolio (TWD Billion), 2011-2020
Figure 19: Taiwanese Non-Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 20: Taiwanese Non-Life Insurance - Direct Written Premium by Category (TWD Billion), 2011-2020
Figure 21: Taiwanese Non-Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 22: Taiwanese Number of New Building Construction , 2010-2014
Figure 23: Taiwanese Property Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2011-2020
Figure 24: Taiwanese Property Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 25: Taiwanese Property Insurance - Paid Claims (TWD Billion), 2011-2020
Figure 26: Taiwanese Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (TWD Billion and %), 2011-2020
Figure 27: Taiwanese new Vehicle Registration, 2011-2015
Figure 28: Taiwanese Traffic Accidents, 2011-2015
Figure 29: Taiwanese Motor Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2011-2020
Figure 30: Taiwanese Motor Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 31: Taiwanese Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2020
Figure 32: Taiwanese Motor Insurance - Paid Claims (TWD Billion), 2011-2020
Figure 33: Taiwanese Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (TWD Billion and %), 2011-2020
Figure 34: Taiwanese Liability Insurance - Direct Written Premium (TWD Billion), 2011-2020
Figure 335: Taiwanese Liability Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 36: Taiwanese Liability Insurance - Paid Claims (TWD Billion), 2011-2020
Figure 37: Taiwanese Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (TWD Billion and %), 2011-2020
Figure 38: Taiwanese Imports and Exports, 2010-2014
Figure 39: Taiwanese Marine, Aviation and Transit Insurance - Direct Written Premium (TWD Billion), 2011-2020
Figure 40: Taiwanese Marine, Aviation and Transit Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 41: Taiwanese Marine, Aviation and Transit Insurance - Paid Claims (TWD Billion), 2011-2020
Figure 42: Taiwanese Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (TWD Billion and %), 2011-2020
Figure 43: Taiwanese - Frequency of Hazards by Type, 1990-2014
Figure 44: Taiwanese Mortality by Hazards Type, 1990-2014
Figure 45: Taiwanese Economic Loss by Hazards Type, 1990-2014
Figure 46: Taiwanese Insurance Industry - Market Shares of Leading Insurers (%), 2015
Figure 47: Taiwan - Insurance Regulatory Frameworks for Company Registration and Operation

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