Taiwan Freight Transport and Shipping Q4 2019
Taiwan’s insurance sector continues to be dominated by two major trends. The first is the steady growth of theenormous life insurance sector, as this remains a favourite investment choice for households with expanding savings. In fact, Taiwanis virtually the only insurance market we cover where potential (rather than actual) problems in the sector are officially and publiclyseen as having implications for the entire financial system. The other trend is the rapid growth of health insurance, where premiumsappear set to rise by 7-8% annually for much of the forecast period. This is, in turn, the result of Taiwan’s ageing demographics,inflation in healthcare costs and likely innovation by the insurance companies themselves. Health insurance accounts for 63% ofnon-life premiums and this figure is rising. Premium growth in motor vehicle insurance and personal accident insurance, the twoother large sub-sectors of the non-life segment, will likely be constrained by price competition and overall maturity respectively.
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