Strategic Market Intelligence: Reinsurance in Taiwan - Key Trends and Opportunities to 2022

Strategic Market Intelligence: Reinsurance in Taiwan - Key Trends and Opportunities to 2022


The Insurance Bureau (IB), under the Financial Supervisory Commission (FSC), is the government body responsible for regulating and supervising the Taiwanese insurance industry. On October 31, 2017, the FSC issued amendments to the minimum credit rating requirement for reinsurance companies with an international credit rating when reinsuring personal insurance business. There are no compulsory cession requirements in the Taiwanese insurance industry. The placement of non-admitted insurance is not permitted in the Taiwanese insurance industry. However, only insurers are permitted to carry out reinsurance business on a cross-border basis. 100% fronting is permitted in Taiwan.

Key Findings

  • The premium accepted grew at a review period CAGR of -8.9% during the review period (2013-2017) to value TWD22.6 billion (US$760.0 million) in 2017
  • The premium accepted is expected to grow at a forecast period (2017-2022) CAGR of 3.5%
  • Intense competition among conventional insurers propelled them to increase retention and focus on investment to gain higher returns; this led to the softening of the reinsurance segment
  • Soft market conditions and a lack of major loss-reducing events added downward pressure onto renewal rates
  • Foreign reinsurers play an important role in the development of the Taiwanese reinsurance segment
  • Gen Re and RGA Global Re are the two registered foreign insurers in Taiwan, while Asia Capital Re, Hannover Ruck SE, SCOR Global Life Se and Toa Re have representative offices in the country. Munich Re has a liaison office in Taipei
  • Central Re is the only domestic reinsurer in Taiwan
The report Strategic Market Intelligence: Reinsurance in Taiwan - Key Trends and Opportunities to 2022, provides a detailed outlook by product category for the Taiwanese reinsurance segment. It provides values for key performance indicators such as premium accepted, premium ceded and cession rates, during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Taiwanese economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together research, modeling and analysis expertise, giving reinsurers access to information on segment dynamics and competitive advantages, and profiles of reinsurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Key Highlights
  • Key insights into the dynamics of Taiwan's reinsurance industry
  • Comparison of Taiwan's reinsurance segment with regional counterparts, along with premium accepted, premium ceded trends and cession rates
  • A comprehensive overview of the Taiwanese economy, government initiatives, FDI, country risk, investment opportunities and enterprise structure
  • Taiwan insurance regulatory framework’s evolution, key facts, taxation regime, licensing and capital requirements
  • Taiwan's reinsurance industry’s market structure giving details of premium accepted and premium ceded along with cession rates
  • Distribution channels deployed by Taiwan's reinsurers
  • Details of the competitive landscape, M&A and competitors’ profiles
Companies mentioned: Gen Re, RGA Global Re, Asia Capital Re, Hannover Ruck SE, SCOR Global Life Se, Toa Re, Munich Re, Central Re

  • This report provides a comprehensive analysis of the reinsurance segment in Taiwan.
  • It provides historical values for the Taiwanese reinsurance segment for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
  • It offers a detailed analysis of the key categories in the Taiwanese reinsurance segment, and market forecasts to 2022.
  • It provides an overview of the various distribution channels for reinsurance products in Taiwan.
  • It profiles the top reinsurance companies in Taiwan, and outlines the key regulations affecting them.
Reasons to buy
  • Make strategic business decisions using in-depth historic and forecast market data related to Taiwan's reinsurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Taiwanese reinsurance segment.
  • Assess the competitive dynamics in the reinsurance 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.

Executive Summary
Economy Overview
Regulatory Risk
Key Facts
Licensing Requirements
Reinsurance Overview
Premium Accepted Trend
Premium Ceded Trend
Cession Rates
Distribution Overview
Competitive Landscape
Key M&A Transactions

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