BMI View: Taiwan's insurance market is unusual in that although it is large and highly developed by moststandards, it is still growing quite rapidly. Life insurance plays a central role in the organised savingslandscape. Demographic factors are boosting demand for retirement savings solutions, in a territory wherehousehold incomes are high and the insurance companies' offerings are well understood. The ability of theleading life insurance companies to develop and distribute innovative products is facilitated by their scale,brand strength and access to capital. We have defined health insurance to be a part of the non-life segment,which it dominates. Health insurance premiums are being boosted by the ageing of the population andinflation in healthcare costs.
Key Updates And Forecasts
Taiwan remains, in many ways, one of the most opportunity-rich of the insurance markets followed byBMI. In a territory with a persistently high savings rate, life insurance plays a central role in organisedsavings. Demographic factors, along with innovation by the insurers, are boosting demand for healthinsurance - which is by far the largest of the non-life sub-sectors. Motor insurers are benefiting fromhigher volumes and prices.