Taiwan Insurance Report Q1 2016

Date: January 27, 2016
Pages: 68
US$ 1,295.00
Report type: Strategic Report
Delivery: Download

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Includes 3 FREE quarterly updates

BMI View: The Taiwanese life insurance market is well developed, with penetration and density rates that among the world's highest, reflecting the established role the sector plays in citizens' late-life planning and retirement 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 note that over the longer term a shrinking working age population and higher proportion of retirees will place pressure on the profitability of life insurance providers. Although some recent financial market troubles are notable, Taiwan remains an attractive investment destination overall and is less risky relative to many of its regional neighbours. Non-life insurance sector growth is primarily being driven by health insurance through 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 to our 2015 projections in many insurance lines. We anticipate that these troubles will continue to negatively impact investment returns in the life insurance sector, as well as premium growth in the nonlife sector in 2016, aside from health insurance.
  • Overall, the proportion of health insurance to total non-life premiums will continue to rise overall and we are expecting consolidation in the industry as a whole amongst smaller providers.
BMI Industry View
  Table: Headline Insurance Forecasts (Taiwan 2012-2019)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Taiwan 2012-2019)
  Table: Life Insurance Claims (Taiwan 2007-2014)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Taiwan 2012-2019)
  Table: Non-Life Insurance Claims (Taiwan 2008-2014)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (Taiwan 2012-2019)
Insurance Risk/Reward Index
Asia Pacific Industry Risk/Reward Index
  Table: Asia Pacific Insurance Risk/Reward Index
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Life Insurance Market (USDmn) 2007-2013
  Table: Life Insurance Market (%) 2007-2013
Non Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Non Life Insurance Market (USDmn) 2007-2013
  Table: Non Life Insurance Market (%) 2007-2013
Company Profile
Cathay Financial Holdings (Cathay Life/Cathay Century)
China Life (Taiwan)
Chunghwa Post
Fubon Financial (Fubon Life/Fubon Insurance)
Nan Shan Life
Shin Kong Financial Holding (Shin Kong Life)
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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