Taiwanese Life Insurance Market Opportunities Outlined by Timetric in In-demand Research Report Published at MarketPublishers.com06 Mar 2015 • by Natalie Aster
LONDON – Factors like the stable regulatory environment, economic revival and ageing population are expected to drive the growth of Taiwan’s life insurance segment going forward. The industry posted a CAGR of just over 6.5% during 2009-2013, accounting for 82.3% of the overall domestic insurance industry gross written premium as of 2013. Despite some deceleration of the growth on the back of the country’s low interest rates, the individual life insurance sub segment stood out from other life insurance categories, demonstrating a CAGR of 9.2% over the review period. With respect to life insurance distribution, in 2013, bancassurance was the largest distribution channel with a segment share of nearly 51% of the gross written premium from novel business, with insurance agents and the direct marketing channel following in.
In 2014, the FSC brought in a regulation allowing Taiwanese non-investment-linked life insurance policyholders to switch to different other policies like health insurance, long-term care insurance and annuities, as per their needs. Attempting to provide low-income sections of the population with basic insurance, in 2009, the FSC allowed Taiwan-based insurers to sell micro-insurance policies. A number of insurance providers in the country were interested in that and obtained the FSC approval to sell their products.
In-demand report “Life Insurance in Taiwan, Key Trends and Opportunities to 2018” prepared by Timetric draws up an comprehensive picture of the national life insurance sector, outlining its growth prospects by life insurance category. The study identifies the key market drivers, trends and major developments, different channels of distribution in the Taiwanese life insurance sector, sheds light on the regulatory policies, looks at the various consumer segments. The report scrutinises the competitive landscape and includes profiles of the dominant life insurance companies detailing key developments, new product launches, and financials, among others. A granular comparison of the top five insurers is included. The study provides statistical figures for the country’s life insurance industry for the period from 2009 to 2013, as well as forecasts to 2018-end.
Life Insurance in Taiwan, Key Trends and Opportunities to 2018
Published: February, 2015
Price: US$ 1,950.00
More in-demand market studies by the publisher can be found at Timetric page.