Market Research Logo

Life Insurance in Taiwan, Key Trends and Opportunities to 2020

Life Insurance in Taiwan, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Taiwan Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Taiwanese life insurance segment, and a comparison of the Taiwanese insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

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 Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in Taiwan Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Taiwanese life insurance segment, including:

  • An overview of the Taiwanese life insurance segment
  • The Taiwanese life insurance segment’s growth prospects by category
  • A comprehensive overview of the Taiwanese economy and demographics
  • A comparison of the Taiwanese life insurance segment with its regional counterparts
  • The various distribution channels in the Taiwanese life insurance segment
  • Details of the competitive landscape in the life insurance segment in Taiwan
  • Details of regulatory policy applicable to the Taiwanese insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Taiwan:
  • It provides historical values for the Taiwanese life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Taiwanese life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Taiwanese life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for life insurance products in Taiwan.
  • It profiles the top life insurance 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 the Taiwanese life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Taiwanese life insurance segment.
  • Assess the competitive dynamics in the life 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.
Key Highlights
  • According to Timetric research, insurance penetration in Taiwan stood at 18.3% in 2015, one of the largest rates in the world.
  • In March 2016, the Financial Supervisory Commission (FSC) increased the overseas investment cap for insurers from 10% to 30%.
  • In April 2014, the FSC allowed life insurers to issue Chinese renminbi-denominated insurance policies in mainland China. In June 2015, the FSC allowed domestic insurers to establish branches or subsidiaries in Hong Kong and Macau.
  • Whole life was the leading category, accounting for 87% of the life gross written premium in 2015.
  • The Taiwanese life insurance segment is mature, consolidated and competitive, with the top 10 insurers accounting for 87.5% of the segment’s gross written premium in 2015. Bancassurance was the leading distribution channel in 2015, followed by direct marketing. The channels together accounted for 94.6% of the segment’s new business direct written premium in 2015.


  • Key Facts and Highlights
    • Table Taiwanese Life Insurance - Key Facts, 2015
    • Table Taiwanese Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Taiwanese Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Taiwanese Life Insurance - Gross Written Premium (TWD Trillion and US$ Billion), 2011-2015
        • Table Taiwanese Life Insurance - Penetration (%), 2011-2015
        • Table Taiwanese Life Insurance - Gross Written Premium (TWD Trillion and US$ Billion), 2015-2020
        • Table Taiwanese Life Insurance - Penetration (%), 2015-2020
        • Table Taiwanese Life Insurance - New Business Direct Written Premium (TWD Billion and US$ Billion), 2011-2015
        • Table Taiwanese Life Insurance - New Business Direct Written Premium (TWD Billion and US$ Billion), 2015-2020
        • Table Taiwanese Life Insurance - Premium per Capita (TWD and US$), 2011-2015
        • Table Taiwanese Life Insurance - Premium per Capita (TWD and US$), 2015-2020
      • Policies sold
        • Table Taiwanese Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Taiwanese Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Taiwanese Life Insurance - Paid Claims (TWD Trillion and US$ Billion), 2011-2015
        • Table Taiwanese Life Insurance - Paid Claims (TWD Trillion and US$ Billion), 2015-2020
      • Assets and investments
        • Table Taiwanese Life Insurance - Total Assets (TWD Trillion and US$ Billion), 2011-2015
        • Table Taiwanese Life Insurance - Total Assets (TWD Trillion and US$ Billion), 2015-2020
        • Table Taiwanese Life Insurance - Total Investment Income (TWD Billion and US$ Billion), 2011-2015
        • Table Taiwanese Life Insurance - Total Investment Income (TWD Billion and US$ Billion), 2015-2020
        • Table Taiwanese Life Insurance - Investment Portfolio (TWD Trillion), 2011-2015
        • Table Taiwanese Life Insurance - Investment Portfolio (TWD Trillion), 2015-2020
  • Outlook by Sub-Segment
    • Table Taiwanese Life Insurance - Direct Written Premium by Sub-Segment (TWD Billion),2011-2015
    • Table Taiwanese Life Insurance - Direct Written Premium by Sub-Segment (TWD Billion), 2015-2020
    • Individual Life Insurance
      • Premium
        • Table Taiwanese Individual Life Insurance - Direct Written Premium by Category (TWD Billion), 2011-2015
        • Table Taiwanese Individual Life Insurance - Direct Written Premium by Category (TWD Billion), 2015-2020
      • Policies sold
        • Table Taiwanese Individual Life Insurance - Number of Policies Sold by Category (Million), 2011-2015
        • Table Taiwanese Individual Life Insurance - Number of Policies Sold by Category (Million), 2015-2020
      • Penetration
    • Group Life Insurance
      • Premium
        • Table Taiwanese Group Life Insurance - Direct Written Premium by Category (TWD Billion), 2011-2015
        • Table Taiwanese Group Life Insurance - Direct Written Premium by Category (TWD Billion), 2015-2020
      • Policies sold
        • Table Taiwanese Group Life Insurance - Number of Policies Sold by Category (Million), 2011-2015
        • Table Taiwanese Group Life Insurance - Number of Policies Sold by Category (Million), 2015-2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Taiwanese Life Insurance - Direct Written Premium by Distribution Channel (TWD Billion), 2011-2015
      • Table Taiwanese Life Insurance - Direct Written Premium by Distribution Channel (TWD Billion), 2015-2020
      • Table Taiwanese Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
  • Competitive Landscape
    • Table Taiwanese Insurance Industry - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Cathay Life Insurance Company Ltd - company overview
        • Table Cathay Life Insurance Company Ltd - Key Facts
        • Table Cathay Life Insurance Company Ltd - Key Financials (TWD Billion), 2011-2015
      • Fubon Life Insurance Co., Ltd - company overview
        • Table Fubon Life Insurance Co., Ltd - Key Facts
        • Table Fubon Life Insurance Co., Ltd - Key Financials (TWD Billion), 2011-2015
      • Nan Shan Life Insurance Company, Ltd - company overview
        • Table Nan Shan Life Insurance Company, Ltd - Key Facts
        • Table Nan Shan Life Insurance Company, Ltd - Key Financials (TWD Billion), 2011-2015
      • Shin Kong Life Insurance Co., Ltd - company overview
        • Table Shin Kong Life Insurance Co., Ltd - Key Facts
        • Table Shin Kong Life Insurance Co., Ltd - Key Financials (TWD Billion), 2011-2015
      • Chunghwa Post Co., Ltd - company overview
        • Table Chunghwa Post Co., Ltd - Key Facts
        • Table Chunghwa Post Co., Ltd - Key Financials (TWD Billion), 2011-2015
  • Governance, Risk and Compliance
    • Table Taiwan - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Taiwan - Life Insurance Regulatory Framework
      • Property insurance
        • Table Taiwan - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Taiwan - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Taiwan - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Automobile liability insurance
        • Table Taiwan - Premium Rates for Third-Party Liability Insurance - Motorcycles
        • Table Taiwan - Premium Rates for Third-Party Liability Insurance - Motor Vehicles
      • National Health Insurance (NHI)
      • Operators' liability insurance for vessel carrier
    • Supervision and Control
      • Insurance Bureau
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Taiwan - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Taiwanese Life Insurance - Policies and Premium, 2011-2015
      • Table Taiwanese Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Taiwanese Life Insurance - Claims and Expenses, 2011-2015
      • Table Taiwanese Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Taiwanese Life Insurance - Assets and Investments, 2011-2015
      • Table Taiwanese Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Taiwanese Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Taiwanese Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Taiwanese Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Taiwanese Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Taiwanese Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Taiwanese Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Individual Life Insurance
      • Table Taiwanese Life Insurance - Individual Life Insurance, 2011-2015
      • Table Taiwanese Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Taiwanese Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Taiwanese Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Group Life Insurance
      • Table Taiwanese Life Insurance - Group Life Insurance, 2011-2015
      • Table Taiwanese Life Insurance - Group Life Insurance, 2015-2020
    • Group Life Insurance by Product
      • Table Taiwanese Life Insurance - Group Life Insurance by Product, 2011-2015
      • Table Taiwanese Life Insurance - Group Life Insurance by Product, 2015-2020
    • Linked vs Non-Linked Policies
      • Table Taiwanese Life Insurance - Linked vs Non-Linked Policies, 2011-2015
      • Table Taiwanese Life Insurance - Linked vs Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report