Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2019

Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2019

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Published on Oct 30, 2015 - 109 pages

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
Report 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.
Report 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 Get this Report
  • 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.


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


Companies Mentioned:

Fubon Insurance
Cathay Century
Shinkong
Mingtai
Tokio Marine Newa
South China
Union
Taian
Chung Kuo
The First