Taiwan Insurance Report Q4 2015 - New Market Report

Taiwan's insurance market, particularly the life insurance sector, is well develop ed and home to a number of well- capitalised domestic insurance firms as well as local subsidiaries of large multinational firms which bring further expertise and innovation to the market. We expect to see growth across all lines over the forecast period, with health insurance in particular expected to show robust growth along with healthy increases in life insurance premiums.

Despite having one of the highest insurance penetration rates globally, we expect the Taiwanese insurance market to continue growing faster than its economy over the coming years. This growth will be led by the life segment, due to its important role as a savings tool for the country's ageing demographic. The life sector is by far the largest part of the market, accounting for over 80% of total premiums written. When using Taiwanese classification, including health and personal accident lines under the life insurance umbrella, this proportion is ever greater, at around 90%.

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Taiwan's life insurance penetration stands at around 15% of GDP and is one of the highest globally. Despite already high penetration, we expect growth in the country's life insurance sector to continue outperforming GDP growth, resulting in an even higher life insurance penetration. In absolute terms, the Taiwanese insurance industry is the fourth largest in the region, behind China, Japan, and South Korea. We do not see any change to this order in the coming decade.

The Taiwan Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Taiwan Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Taiwanese insurance industry.

Key Benefits

* Benchmark BMI's independent insurance industry forecasts for Taiwan to test other views - a key input for successful budgeting and strategic business planning in Taiwan's insurance market.
* Target business opportunities and risks in Taiwan through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
* Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

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