Personal Accident and Health Insurance in Taiwan, Key Trends and Opportunities to 2019

Personal Accident and Health Insurance in Taiwan, Key Trends and Opportunities to 2019

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Published on Oct 31, 2015 - 152 pages

Timetric's 'Personal Accident and Health Insurance in Taiwan, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Taiwanese personal accident and health insurance segment, including:
  • The Taiwanese personal accident and health insurance segment's growth prospects by insurance category
  • Key trends, drivers and challenges for the personal accident and health insurance segment
  • A comprehensive overview of the Taiwanese economy and demographics
  • Details of the competitive landscape in the personal accident and health insurance segment in Taiwan
  • Details of regulatory policy applicable to the Taiwanese insurance industry
Report Highlights
  • The personal accident and health segment accounted for 13.2% of the industry's gross written premium in 2014.
  • Increasing demand for private health insurance and rising disposable income supported the segment's growth during the review period.
  • Health insurance was the largest category in terms of gross written premium, with an 80.3% share in 2014.
  • Travel insurance was the fastest growing category in terms of gross written premium, at a review-period CAGR of 13.8%.
  • The combined ratio for personal accident and health insurance business remained less than 100.0% during the review period, implying Taiwanese insurers offering personal accident and health insurance products registered underwriting profits during this time.
  • The segment is highly concentrated, with the 10 leading insurers accounting for 88.4% of the segment's gross written premium in 2014.
Report Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Taiwan:
  • It provides historical values for the Taiwanese personal accident and health 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 personal accident and health insurance segment, along with market forecasts until 2019.
  • It profiles the top personal accident and health 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 personal accident and health insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Taiwanese personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health 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 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 Economy and Demographics
5 Personal Accident and Health Insurance Segment Outlook
5.1 Key Drivers
5.2 Key Trends
5.3 Challenges
5.4 Personal Accident and Health Insurance Growth Prospects by Category
5.4.1 Personal accident insurance
5.4.2 Travel insurance
5.4.3 Health insurance
5.4.4 Non-life health insurance
5.4.5 Life health insurance
6 Analysis by Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Brokers
7 Competitive Landscape and Strategic Insights
7.1 Overview
7.2 Leading Companies in the Taiwanese Personal Accident and Health Insurance Segment
7.2.1 Cathay Life Insurance Co., Ltd - company overview
7.2.2 Nan Shan Life Insurance Company, Ltd - company overview
7.2.3 Fubon Life Insurance Co., Ltd - company overview
7.2.4 Shin Kong Life Insurance Co., Ltd - company overview
7.2.5 MassMutual Mercuries Life Insurance Co., Ltd - company overview
7.2.6 China Life Insurance Co., Ltd - company overview
7.2.7 TransGlobe Life Insurance Inc. - company overview
7.2.8 Far Glory Life Insurance Co., Ltd - company overview
7.2.9 Taiwan Life Insurance Co. Ltd - company overview
7.2.10 Cigna Taiwan Life Insurance Company 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 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables

Table 1: Taiwanese Personal Accident and Health Insurance - Key Facts, 2014
Table 2: Insurance Industry Definitions
Table 3: Taiwanese Government Credit Ratings
Table 4: Taiwanese Personal Accident and Health Insurance - Gross Written Premium by Category (TWD Billion), 2010-2014
Table 5: Taiwanese Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
Table 6: Taiwanese Personal Accident and Health Insurance - Gross Written Premium by Category (TWD Billion), 2014-2019
Table 7: Taiwanese Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
Table 8: Taiwanese Personal Accident and Health Insurance - Direct Written Premium by Category (TWD Billion), 2010-2014


Companies Mentioned:

Cathay Life
Nan Shan Life
Fubon Life
Shin Kong Life
Mercuries Life
China Life
TransGlobe Life
Farglory Life
Taiwan Life
Cigna