Taiwan Insurance Report Q2 2016
BMI View: As of early 2016, we have revised down slightly our forecasts for premiums for both the life andthe non-life segments, in order to recognise the slightly less favourable economic prospects for GreaterChina and the rest of the Asia-Pacific region over the coming years. Nevertheless, the life insurers - whorepresent a key conduit for organised savings - should continue to enjoy growth in premiums of 5-6%annually through the forecast period. Non-life insurance premiums are expected to increase at a similarpace. Demographic trends mean that health insurance should remain something of a growth hotspot.Key Updates And Forecasts
Taking into consideration the results announced by the leading financial holding companies in relation to2015 (or periods to September), we estimate growth in life and non-life premiums of 2.1% and 4.2%respectively for 2015. Premiums in the two major segments are forecast to increase by 3.0% and 5.9%respectively in 2016. Particular companies have enjoyed considerably greater growth in first--yearpremiums as a result of targeted sales/marketing strategies. Some companies have been affected by thevolatility in global financial markets. However, many have restructured their balance sheets to reduce riskand/or to improve interest income spreads.
Demographic changes and marketing initiatives mean that several of the leading insurance groups areenjoying strong growth in sales of health and long-term care products.
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