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Synopsis
Timetric’s 'Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2019' report provides detailed outlook by product category in 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 (2010–2014) and forecast period (2014–2019).

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 regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Taiwanese non-life insurance segment, including:

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

- A comprehensive overview of the Taiwanese economy and demographics

- A comparison of the Taiwanese insurance industry with its regional counterparts

- 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 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Taiwanese non-life insurance segment, along with market forecasts until 2019.

- 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
- The non-life segment’s penetration was the lowest in the Taiwanese insurance industry.

- The segment is dominated by the motor category, which accounted for 59.2% of the non-life gross written premium in 2014.

- An increase in vehicle sales and the compulsory nature of third-party motor liability insurance supported the category’s growth during the review period.

- In 2014, the non-life penetration in Taiwan stood at 1.7%.

- Non-life insurance penetration, as a ratio of direct premium to GDP increased from 0.66% in 2010 to 0.73% in 2014. Penetration was low due to a lack of public awareness of the benefits of non-life cover.

- The non-life segment is concentrated, with the five leading companies representing 60.9% of the total segment’s gross written premium in 2014.

Table Of Contents

Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2019
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 Product
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
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 Natural Hazards
6.1 Earthquake
6.2 Typhoon
6.3 Exposure
7 Competitive Landscape
7.1 Overview
7.2 Leading Companies in the Taiwanese Non-life segment
7.2.1 Fubon Insurance Company Ltd - company overview
7.2.2 Cathay Century Insurance Co., Ltd - company overview
7.2.3 Shinkong Insurance Co., Ltd - company overview
7.2.4 MSIG Mingtai Insurance Co., Ltd - company overview
7.2.5 Tokio Marine Newa Insurance Co. Ltd - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulations
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)
8.5 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 Types 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 margins
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
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 Non-Life Insurance - Key Facts
Table 2: Taiwanese Non-Life Insurance - Leading Insurers' Market Shares, 2014
Table 3: Taiwanese Government Credit Ratings
Table 4: Taiwanese Non-Life Insurance - Gross Written Premium (TWD and US$), 2010-2014
Table 5: Taiwanese Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Taiwanese Non-Life Insurance - Gross Written Premium (TWD and US$), 2014-2019
Table 7: Taiwanese Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Taiwanese Non-Life Insurance - Premium per Capita (TWD and US$), 2010-2014
Table 9: Taiwanese Non-Life Insurance - Premium per Capita (TWD and US$), 2014-2019
Table 10: Taiwanese Non-Life Insurance - Paid Claims (TWD and US$), 2010-2014
Table 11: Taiwanese Non-Life Insurance - Paid Claims (TWD and US$), 2014-2019
Table 12: Taiwanese Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Taiwanese Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Taiwanese Non-Life Insurance - Total Assets (TWD and US$), 2010-2014
Table 15: Taiwanese Non-Life Insurance - Total Assets (TWD and US$), 2014-2019
Table 16: Taiwanese Non-Life Insurance - Total Investment Income (TWD and US$), 2010-2014
Table 17: Taiwanese Non-Life Insurance - Total Investment Income (TWD and US$), 2014-2019
Table 18: Taiwanese Non-Life Insurance - Investment Portfolio (TWD Billion), 2010-2014
Table 19: Taiwanese Non-Life Insurance - Investment Portfolio (TWD Billion), 2014-2019
Table 20: Taiwanese Non-Life Insurance - Gross Written Premium by Category (TWD Billion), 2010-2014
Table 21: Taiwanese Non-Life Insurance - Gross Written Premium by Category (TWD Billion), 2014-2019
Table 22: Taiwanese Property Insurance - Gross Written Premium by Sub-Category (TWD Billion), 2010-2014
Table 23: Taiwanese Property Insurance - Gross Written Premium by Sub-Category (TWD Billion), 2014-2019
Table 24: Taiwanese Property Insurance - Paid Claims (TWD and US$), 2010-2014
Table 25: Taiwanese Property Insurance - Paid Claims (TWD and US$), 2014-2019
Table 26: Taiwanese Property Insurance - Loss Ratio (%), 2010-2014
Table 27: Taiwanese Property Insurance - Loss Ratio (%), 2014-2019
Table 28: Taiwanese Motor Insurance - Gross Written Premium by Sub-Category (TWD Billion), 2010-2014
Table 29: Taiwanese Motor Insurance - Gross Written Premium by Sub-Category (TWD Billion), 2014-2019
Table 30: Taiwanese Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 31: Taiwanese Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 32: Taiwanese Motor Insurance - Paid Claims (TWD Billion and US$ Billion), 2010-2014
Table 33: Taiwanese Motor Insurance - Paid Claims (TWD Billion and US$ Billion), 2014-2019
Table 34: Taiwanese Motor Insurance - Loss Ratio (%), 2010-2014
Table 35: Taiwanese Motor Insurance - Loss Ratio (%), 2014-2019
Table 36: Taiwanese Liability Insurance - Gross Written Premium (TWD Billion), 2010-2014
Table 37: Taiwanese Liability Insurance - Gross Written Premium (TWD Billion), 2014-2019
Table 38: Taiwanese Liability Insurance - Paid Claims (TWD Billion and US$ Billion), 2010-2014
Table 39: Taiwanese Liability Insurance - Paid Claims (TWD Billion and US$ Billion), 2014-2019
Table 40: Taiwanese Liability Insurance - Loss Ratio (%), 2010-2014
Table 41: Taiwanese Liability Insurance - Loss Ratio (%), 2014-2019
Table 42: Taiwanese Transport Network - Global Rankings (2013)
Table 43: Taiwanese Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (TWD Billion), 2010-2014
Table 44: Taiwanese Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (TWD Billion), 2014-2019
Table 45: Taiwanese Marine, Aviation and Transit Insurance - Paid Claims (TWD Billion and US$ Billion),, 2010-2014
Table 46: Taiwanese Marine, Aviation and Transit Insurance - Paid Claims (TWD Billion and US$ Billion), 2014-2019
Table 47: Taiwanese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 48: Taiwanese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 49: Taiwanese Shares of Key Insurers in Taiwanese Non-Life Segment (%), 2014
Table 50: Fubon Insurance Company Ltd - Key Facts
Table 51: Fubon Insurance Company Ltd - Key Financials (TWD Billion), 2010-2014
Table 52: Cathay Century Insurance Co., Ltd - Key Facts
Table 53: Cathay Century Insurance Co., Ltd - Key Financials (TWD Billion), 2010-2014
Table 54: Shinkong Insurance Co., Ltd - Key Facts
Table 55: Shinkong Insurance Co., Ltd - Key Financials (TWD Billion), 2010-2014
Table 56: MSIG Mingtai Insurance Co., Ltd - Key Facts
Table 57: MSIG Mingtai Insurance Co., Ltd - Key Financials (TWD Billion), 2010-2014
Table 58: Tokio Marine Newa Insurance Co. Ltd - Key Facts
Table 59: Tokio Marine Newa Insurance Co. Ltd - Key Financials (TWD Billion), 2010-2014
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 - Corporate Tax Rates for the Financial Year 2015
Table 66: Taiwanese Insurance Industry - Policies and Premium, 2010-2014
Table 67: Taiwanese Insurance Industry - Policies and Premium, 2014-2019
Table 68: Taiwanese Non-Life Insurance - Premium, 2010-2014
Table 69: Taiwanese Non-Life Insurance - Premium, 2014-2019
Table 70: Taiwanese Non-Life Insurance - Property Insurance Premium, 2010-2014
Table 71: Taiwanese Non-Life Insurance - Property Insurance Premium, 2014-2019
Table 72: Taiwanese Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
Table 73: Taiwanese Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
Table 74: Taiwanese Non-Life Insurance - Liability Insurance Premium, 2010-2014
Table 75: Taiwanese Non-Life Insurance - Liability Insurance Premium, 2014-2019
Table 76: Taiwanese Non-Life Insurance - Marine, Aviation and Transit Insurance Premium, 2010-2014
Table 77: Taiwanese Non-Life Insurance - Marine, Aviation and Transit Insurance Premium, 2014-2019
Table 78: Taiwanese Non-Life Insurance - Gross Written Premium by Sub-Category (TWD Billion), 2010-2014
Table 79: Taiwanese Non-Life Insurance - Gross Written Premium by Sub-Category (TWD Billion), 2014-2019
Table 80: Taiwanese Non-Life Insurance - Direct Written Premium by Sub-Category (TWD), 2010-2014
Table 81: Taiwanese Non-Life Insurance - Direct Written Premium by Sub-Category (TWD Billion), 2014-2019
Table 82: Taiwanese Non-Life Insurance - Penetration (Ratio of Direct Premium to GDP) by Sub-Category (%), 2010-2014
Table 83: Taiwanese Non-Life Insurance - Penetration (Ratio of Direct Premium to GDP) by Sub-Category (%), 2014-2019
Table 84: Insurance Industry Definitions

List of Figures
Figure 1: Taiwanese Real GDP, 2010-2019
Figure 2: Taiwanese TWD/US$ Exchange Rate, 2010-2019
Figure 3: Taiwanese Consumer Price Inflation, 2010-2019
Figure 4: Taiwanese Current Account Balance (% of GDP), 2010-2014
Figure 5: Taiwanese Unemployment Rate, 2010-2019
Figure 6: Taiwanese Population by Age Group, 1990-2025
Figure 7: Taiwanese Non-Life Insurance Penetration - Regional Comparison, 2014
Figure 8: Taiwanese Insurance Segments Direct Written Premium Share - Regional Comparison, 2014
Figure 9: Taiwanese Non-Life Insurance - Gross Written Premium (TWD Billion), 2010-2019
Figure 10: Taiwanese Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Taiwanese Non-Life Insurance - Premium per Capita (TWD), 2010-2019
Figure 12: Taiwanese Non-Life Insurance - Paid Claims (TWD Billion), 2010-2019
Figure 13: Taiwanese Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 14: Taiwanese Non-Life Insurance - Total Assets (TWD Billion), 2010-2019
Figure 15: Taiwanese Non-Life Insurance - Total Investment Income (TWD Billion), 2010-2019
Figure 16: Taiwanese Non-Life Insurance - Investment Portfolio (TWD Billion), 2010-2019
Figure 17: Taiwanese Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 18: Taiwanese Non-Life Insurance - Gross Written Premium by Category (TWD Billion), 2010-2019
Figure 19: Taiwanese Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 20: Taiwanese Property Insurance - Gross Written Premium by Sub-Category, 2010-2019
Figure 21: Taiwanese Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 22: Taiwanese Property Insurance - Paid Claims (TWD Billion), 2010-2019
Figure 23: Taiwanese Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (%), 2010-2019
Figure 24: Taiwanese Total Vehicle Sales (Million), January-August 2010-2015
Figure 25: Taiwanese Vehicle Sales by Type (% Share), 2014
Figure 26: Taiwanese Motor Insurance - Gross Written Premium by Sub-Category (TWD Billion), 2010-2019
Figure 27: Taiwanese Motor Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 28: Taiwanese Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019
Figure 29: Taiwanese Motor Insurance - Paid Claims (TWD Billion), 2010-2019
Figure 30: Taiwanese Motor Insurance- Earned Premium, Incurred Loss and Loss Ratio (%), 2010-2019
Figure 31: Taiwanese Liability Insurance - Gross Written Premium (TWD Billion), 2010-2019
Figure 32: Taiwanese Liability Insurance - Paid Claims (TWD Billion), 2010-2019
Figure 33: Taiwanese Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (TWD Billion and %), 2010-2019
Figure 34: Taiwanese Marine, Aviation and Transit Insurance - Gross Written Premium (TWD Billion), 2010-2019
Figure 35: Taiwanese Marine, Aviation and Transit Insurance - Paid Claims (TWD Billion), 2010-2019
Figure 36: Taiwanese Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (%), 2010-2019
Figure 37: Taiwanese Combined Economic Losses (% Share), 1990-2014
Figure 38: Taiwanese Shares of Key Insurers in Taiwanese Non-Life Segment (%), 2014
Figure 39: Taiwan - Insurance Regulatory Frameworks for Company Registration and Operation

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