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Life Insurance in Taiwan, Key Trends and Opportunities to 2017

Synopsis
The report provides in-depth market analysis, information and insights into the Taiwanese life insurance segment, including:
The Taiwanese life insurance segment’s growth prospects by life insurance categories Key trends and drivers for the life insurance segment The various
distribution channels in the Taiwanese life insurance segment An overview of the competitive landscape in the life insurance segment in Taiwan An overview of
the regulatory framework of the Taiwanese insurance industry A description of the life reinsurance segment in Taiwan Porter's five forces analysis of the life
insurance segment A benchmarking section on the Taiwanese life insurance segment in comparison to other countries in the South-East Asian region
Executive summary
The Taiwanese life insurance segment grew at a compound annual growth rate (CAGR) of 6.6% in terms of gross written premium during the review period
(2008-2012), as a result of the strong performance of the individual life category, which grew at a healthy CAGR of 9.7%. However, the segment’s growth
slowed due to a decline in general annuity insurance and low interest rates in the country. Fierce competition in the segment, which forced multinationals to exit
Taiwan, and the current low interest rates are projected to affect the life segment’s total growth over the forecast period. As a result, the segment is
expected to post a lower CAGR of 3.7% over the forecast period (2012-2017).
Scope
This report provides a comprehensive analysis of the life insurance segment in Taiwan:
It provides historical values for Taiwanese life insurance segment for the report’s 2008-2012 review period and forecast figures for the 2012-2017
forecast period It offers a detailed analysis of the key categories in the Taiwanese life insurance segment, along with market forecasts until 2017 It covers an
exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets,
total investment income and retentions It analyses the various distribution channels for life insurance products in Taiwan Using Porter’s industry-standard
“five forces” analysis, it details the competitive landscape in Taiwan for the life insurance business It provides a detailed analysis of the
reinsurance segment in Taiwan and its growth prospects 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 within the Taiwanese life insurance segment Assess the competitive
dynamics in the life insurance segment, along with the reinsurance segment Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing the Taiwanese insurance industry and its impact on companies and the market's future
Key highlights
The Taiwanese life insurance segment grew at a CAGR of 6.6% in terms of gross written premium during the review period During the review period, life
insurance providers in Taiwan benefited from low combined ratios, resulting in underwriting profits Favorable demographic factors, such as increased life
expectancy and a rise in the population aged 65 years and above, are likely to accelerate demand for life insurance products The strong social credibility and
familiarity of Taiwanese banks as financial institutions aided the selling of annuities and unit-linked products during the review period The five leading
companies collectively accounted for 68.5% of the segment’s gross written premium in 2012
table Of Contents

1 Executive Summary

2 Introduction
2.1 What Is This Report About?
2.2 Definitions
2.3 Methodology

3 Life Insurance – Regional Benchmarking
3.1 Scale And Penetration
3.1.1 Total Segment Gross Written Premium
3.1.2 Premium Per Capita
3.1.3 Life Insurance Penetration As A Percentage Of Gdp
3.2 Growth
3.2.1 Gross Written Premium
3.2.2 Gross Written Premium Per Capita
3.3 Efficiency And Risk
3.3.1 Loss Ratio
3.3.2 Combined Ratio
3.3.3 Incurred Losses Per Capita
3.3.4 Incurred Losses As A Percentage Of Gdp

4 Taiwanese Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2008–2017
4.2 Key Industry Trends And Drivers

Life Insurance in Taiwan, Key Trends and Opportunities to 2017
5 Life Insurance Outlook
5.1 Life Insurance Growth Prospects By Category
5.1.1 Individual Life Insurance
5.1.2 Individual General Annuity Insurance
5.1.3 Group Life Insurance
5.2 Life Insurance Growth Prospects By Product Type
5.2.1 Individual Single-premium Policies
5.2.2 Individual Non-single-premium Policies
5.2.3 Group Single-premium Policies
5.2.4 Group Non-single-premium Policies

6 Analysis By Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 E-commerce
6.5 Brokers

7 Porter’s Five Forces Analysis – Taiwanese Life Insurance
7.1 Bargaining Power Of Supplier: Low To Medium
7.2 Bargaining Power Of Buyer: Medium To High
7.3 Barriers To Entry: Medium
7.4 Intensity Of Rivalry: High
7.5 Threat Of Substitutes: Low

8 Reinsurance Growth Dynamics And Challenges
8.1 Reinsurance Segment Size, 2008–2017
8.2 Reinsurance Segment Size By Type Of Insurance, 2008–2017

9 Governance, Risk And Compliance
9.1 Legislation Overview And Historical Evolution
9.2 Legislation Trends By Type Of Insurance
9.2.1 Life Insurance Regulatory Trends
9.2.2 Property Insurance Regulatory Trends
9.2.3 Motor Insurance Regulatory Trends
9.2.4 Liability Insurance Regulatory Trends
9.2.5 Marine, Aviation, And Transit Insurance Regulatory Trends
9.2.6 Personal Accident Insurance Regulatory Trends
9.2.7 Health Insurance Regulatory Trends
9.3 Compulsory Insurance
9.3.1 Automobile Liability Insurance Policy
9.4 Supervision And Control
9.4.1 International Association Of Insurance Supervisors (iais)
9.4.2 Insurance Bureau
9.5 Non-admitted Insurance Regulatory Trends
9.5.1 Overview
9.5.2 Intermediaries
9.5.3 Market Practices
9.5.4 Fines And Penalties
9.6 Company Registration And Operations
9.6.1 Types Of Insurance Organization
9.6.2 Establishing A Local Company
9.6.3 Foreign Ownership
9.6.4 Types Of License
9.6.5 Capital Requirements
9.6.6 Solvency Margins
9.6.7 Reserve Requirements
9.6.8 Investment Regulations
9.6.9 Statutory Return Requirements
9.7 Taxation
9.7.1 Insurance Premium Or Policy Taxation
9.7.2 Corporate Tax
9.7.3 Vat
9.7.4 Captives
Life Insurance in Taiwan, Key Trends and Opportunities to 2017
9.8 Legal System
9.8.1 Introduction
9.8.2 Access To Court
9.8.3 Alternative Dispute Resolution (adr)

10 Competitive Landscape And Strategic Insights
10.1 Overview
10.2 Leading Companies In The Taiwanese Life Insurance Segment
10.3 Comparison Of The Top Five Insurers
10.3.1 Gross Claims
10.3.2 Loss Ratio
10.3.3 Total Assets
10.4 Cathay Life Insurance Co., Ltd – Company Overview
10.4.1 Cathay Life Insurance Co., Ltd – Key Facts
10.4.2 Cathay Life Insurance Co., Ltd – Key Financials
10.5 Fubon Life Insurance Co., Ltd – Company Overview
10.5.1 Fubon Life Insurance Co., Ltd – Key Facts
10.5.2 Fubon Life Insurance Co., Ltd – Key Financials
10.6 Nan Shan Life Insurance Company, Ltd – Company Overview
10.6.1 Nan Shan Life Insurance Company, Ltd – Key Facts
10.6.2 Nan Shan Life Insurance Company, Ltd – Key Financials
10.7 Chunghwa Post Co., Ltd – Company Overview
10.7.1 Chunghwa Post Co., Ltd – Key Facts
10.7.2 Chunghwa Post Co., Ltd – Key Financials
10.8 Shin Kong Life Insurance Co., Ltd – Company Overview
10.8.1 Shin Kong Life Insurance Co., Ltd – Key Facts
10.8.2 Shin Kong Life Insurance Co., Ltd – Key Financials
10.9 China Life Insurance Co., Ltd – Company Overview
10.9.1 China Life Insurance Co., Ltd – Key Facts
10.9.2 China Life Insurance Co., Ltd – Key Financials
10.10 Mercuries Life Insurance Co., Ltd – Company Overview
10.10.1 Mercuries Life Insurance Co., Ltd – Key Facts
10.10.2 Mercuries Life Insurance Co., Ltd – Key Financials
10.11 Taiwan Life Insurance Co Ltd – Company Overview
10.11.1 Taiwan Life Insurance Co Ltd – Key Facts
10.11.2 Taiwan Life Insurance Co Ltd – Key Financials
10.12 Bank Taiwan Life Insurance Co., Ltd – Company Overview
10.12.1 Bank Taiwan Life Insurance Co., Ltd – Key Facts
10.12.2 Bank Taiwan Life Insurance Co., Ltd – Key Financials
10.13 Allianz Taiwan Life Insurance Co. Ltd – Company Overview
10.13.1 Allianz Taiwan Life Insurance Co. Ltd – Key Facts
10.13.2 Allianz Taiwan Life Insurance Co. Ltd – Key Financials

11 Business Environment And Country Risk
11.1 Business Confidence
11.1.1 Market Capitalization Trend – Taiwan Stock Exchange Corp. (twse)
11.2 Economic Performance
11.2.1 Gdp At Constant Prices (us$)
11.2.2 Gdp Per Capita At Constant Prices (us$)
11.2.3 Gdp At Current Prices (us$)
11.2.4 Gdp Per Capita At Current Prices (us$)
11.2.5 Gdp By Key Segments
11.2.6 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$)
11.2.7 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices, As A Percentage Of Gdp
11.2.8 Manufacturing Net Output At Current Prices (us$)
11.2.9 Manufacturing Net Output At Current Prices As A Percentage Of Gdp
11.2.10 Mining, Manufacturing And Utilities At Current Prices (us$)
11.2.11 Mining, Manufacturing And Utilities At Current Prices As A Percentage Of Gdp
11.2.12 Construction Net Output At Current Prices (us$)
11.2.13 Construction Net Output At Current Prices As A Percentage Of Gdp
11.2.14 Inflation Rate
11.2.15 Exports As A Percentage Of Gdp
11.2.16 Imports As A Percentage Of Gdp
11.2.17 Exports Growth
11.2.18 Imports Growth
11.2.19 Annual Average Exchange Rate Us$–twn
Life Insurance in Taiwan, Key Trends and Opportunities to 2017
11.3 Labor Force
11.3.1 Labor Force
11.3.2 Unemployment Rate
11.4 Demographics
11.4.1 Household Consumption Expenditure (us$)
11.4.2 Total Population
11.4.3 Age Distribution Of The Total Population

12 Appendix
12.1 Methodology
12.2 Contact Timetric
12.3 About Timetric
12.4 Timetric’s Services
12.5 Disclaimer
ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your
research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and
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Life Insurance in Taiwan, Key Trends and Opportunities to 2017

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Life Insurance in Taiwan to 2017: Market Overview

  • 1. Life Insurance in Taiwan, Key Trends and Opportunities to 2017 Synopsis The report provides in-depth market analysis, information and insights into the Taiwanese life insurance segment, including: The Taiwanese life insurance segment’s growth prospects by life insurance categories Key trends and drivers for the life insurance segment The various distribution channels in the Taiwanese life insurance segment An overview of the competitive landscape in the life insurance segment in Taiwan An overview of the regulatory framework of the Taiwanese insurance industry A description of the life reinsurance segment in Taiwan Porter's five forces analysis of the life insurance segment A benchmarking section on the Taiwanese life insurance segment in comparison to other countries in the South-East Asian region Executive summary The Taiwanese life insurance segment grew at a compound annual growth rate (CAGR) of 6.6% in terms of gross written premium during the review period (2008-2012), as a result of the strong performance of the individual life category, which grew at a healthy CAGR of 9.7%. However, the segment’s growth slowed due to a decline in general annuity insurance and low interest rates in the country. Fierce competition in the segment, which forced multinationals to exit Taiwan, and the current low interest rates are projected to affect the life segment’s total growth over the forecast period. As a result, the segment is expected to post a lower CAGR of 3.7% over the forecast period (2012-2017). Scope This report provides a comprehensive analysis of the life insurance segment in Taiwan: It provides historical values for Taiwanese life insurance segment for the report’s 2008-2012 review period and forecast figures for the 2012-2017 forecast period It offers a detailed analysis of the key categories in the Taiwanese life insurance segment, along with market forecasts until 2017 It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions It analyses the various distribution channels for life insurance products in Taiwan Using Porter’s industry-standard “five forces” analysis, it details the competitive landscape in Taiwan for the life insurance business It provides a detailed analysis of the reinsurance segment in Taiwan and its growth prospects 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 within the Taiwanese life insurance segment Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment Identify the growth opportunities and market dynamics within key product categories Gain insights into key regulations governing the Taiwanese insurance industry and its impact on companies and the market's future Key highlights The Taiwanese life insurance segment grew at a CAGR of 6.6% in terms of gross written premium during the review period During the review period, life insurance providers in Taiwan benefited from low combined ratios, resulting in underwriting profits Favorable demographic factors, such as increased life expectancy and a rise in the population aged 65 years and above, are likely to accelerate demand for life insurance products The strong social credibility and familiarity of Taiwanese banks as financial institutions aided the selling of annuities and unit-linked products during the review period The five leading companies collectively accounted for 68.5% of the segment’s gross written premium in 2012 table Of Contents 1 Executive Summary 2 Introduction 2.1 What Is This Report About? 2.2 Definitions 2.3 Methodology 3 Life Insurance – Regional Benchmarking 3.1 Scale And Penetration 3.1.1 Total Segment Gross Written Premium 3.1.2 Premium Per Capita 3.1.3 Life Insurance Penetration As A Percentage Of Gdp 3.2 Growth 3.2.1 Gross Written Premium 3.2.2 Gross Written Premium Per Capita 3.3 Efficiency And Risk 3.3.1 Loss Ratio 3.3.2 Combined Ratio 3.3.3 Incurred Losses Per Capita 3.3.4 Incurred Losses As A Percentage Of Gdp 4 Taiwanese Insurance Industry Attractiveness 4.1 Insurance Industry Size, 2008–2017 4.2 Key Industry Trends And Drivers Life Insurance in Taiwan, Key Trends and Opportunities to 2017
  • 2. 5 Life Insurance Outlook 5.1 Life Insurance Growth Prospects By Category 5.1.1 Individual Life Insurance 5.1.2 Individual General Annuity Insurance 5.1.3 Group Life Insurance 5.2 Life Insurance Growth Prospects By Product Type 5.2.1 Individual Single-premium Policies 5.2.2 Individual Non-single-premium Policies 5.2.3 Group Single-premium Policies 5.2.4 Group Non-single-premium Policies 6 Analysis By Distribution Channel 6.1 Direct Marketing 6.2 Bancassurance 6.3 Agencies 6.4 E-commerce 6.5 Brokers 7 Porter’s Five Forces Analysis – Taiwanese Life Insurance 7.1 Bargaining Power Of Supplier: Low To Medium 7.2 Bargaining Power Of Buyer: Medium To High 7.3 Barriers To Entry: Medium 7.4 Intensity Of Rivalry: High 7.5 Threat Of Substitutes: Low 8 Reinsurance Growth Dynamics And Challenges 8.1 Reinsurance Segment Size, 2008–2017 8.2 Reinsurance Segment Size By Type Of Insurance, 2008–2017 9 Governance, Risk And Compliance 9.1 Legislation Overview And Historical Evolution 9.2 Legislation Trends By Type Of Insurance 9.2.1 Life Insurance Regulatory Trends 9.2.2 Property Insurance Regulatory Trends 9.2.3 Motor Insurance Regulatory Trends 9.2.4 Liability Insurance Regulatory Trends 9.2.5 Marine, Aviation, And Transit Insurance Regulatory Trends 9.2.6 Personal Accident Insurance Regulatory Trends 9.2.7 Health Insurance Regulatory Trends 9.3 Compulsory Insurance 9.3.1 Automobile Liability Insurance Policy 9.4 Supervision And Control 9.4.1 International Association Of Insurance Supervisors (iais) 9.4.2 Insurance Bureau 9.5 Non-admitted Insurance Regulatory Trends 9.5.1 Overview 9.5.2 Intermediaries 9.5.3 Market Practices 9.5.4 Fines And Penalties 9.6 Company Registration And Operations 9.6.1 Types Of Insurance Organization 9.6.2 Establishing A Local Company 9.6.3 Foreign Ownership 9.6.4 Types Of License 9.6.5 Capital Requirements 9.6.6 Solvency Margins 9.6.7 Reserve Requirements 9.6.8 Investment Regulations 9.6.9 Statutory Return Requirements 9.7 Taxation 9.7.1 Insurance Premium Or Policy Taxation 9.7.2 Corporate Tax 9.7.3 Vat 9.7.4 Captives Life Insurance in Taiwan, Key Trends and Opportunities to 2017
  • 3. 9.8 Legal System 9.8.1 Introduction 9.8.2 Access To Court 9.8.3 Alternative Dispute Resolution (adr) 10 Competitive Landscape And Strategic Insights 10.1 Overview 10.2 Leading Companies In The Taiwanese Life Insurance Segment 10.3 Comparison Of The Top Five Insurers 10.3.1 Gross Claims 10.3.2 Loss Ratio 10.3.3 Total Assets 10.4 Cathay Life Insurance Co., Ltd – Company Overview 10.4.1 Cathay Life Insurance Co., Ltd – Key Facts 10.4.2 Cathay Life Insurance Co., Ltd – Key Financials 10.5 Fubon Life Insurance Co., Ltd – Company Overview 10.5.1 Fubon Life Insurance Co., Ltd – Key Facts 10.5.2 Fubon Life Insurance Co., Ltd – Key Financials 10.6 Nan Shan Life Insurance Company, Ltd – Company Overview 10.6.1 Nan Shan Life Insurance Company, Ltd – Key Facts 10.6.2 Nan Shan Life Insurance Company, Ltd – Key Financials 10.7 Chunghwa Post Co., Ltd – Company Overview 10.7.1 Chunghwa Post Co., Ltd – Key Facts 10.7.2 Chunghwa Post Co., Ltd – Key Financials 10.8 Shin Kong Life Insurance Co., Ltd – Company Overview 10.8.1 Shin Kong Life Insurance Co., Ltd – Key Facts 10.8.2 Shin Kong Life Insurance Co., Ltd – Key Financials 10.9 China Life Insurance Co., Ltd – Company Overview 10.9.1 China Life Insurance Co., Ltd – Key Facts 10.9.2 China Life Insurance Co., Ltd – Key Financials 10.10 Mercuries Life Insurance Co., Ltd – Company Overview 10.10.1 Mercuries Life Insurance Co., Ltd – Key Facts 10.10.2 Mercuries Life Insurance Co., Ltd – Key Financials 10.11 Taiwan Life Insurance Co Ltd – Company Overview 10.11.1 Taiwan Life Insurance Co Ltd – Key Facts 10.11.2 Taiwan Life Insurance Co Ltd – Key Financials 10.12 Bank Taiwan Life Insurance Co., Ltd – Company Overview 10.12.1 Bank Taiwan Life Insurance Co., Ltd – Key Facts 10.12.2 Bank Taiwan Life Insurance Co., Ltd – Key Financials 10.13 Allianz Taiwan Life Insurance Co. Ltd – Company Overview 10.13.1 Allianz Taiwan Life Insurance Co. Ltd – Key Facts 10.13.2 Allianz Taiwan Life Insurance Co. Ltd – Key Financials 11 Business Environment And Country Risk 11.1 Business Confidence 11.1.1 Market Capitalization Trend – Taiwan Stock Exchange Corp. (twse) 11.2 Economic Performance 11.2.1 Gdp At Constant Prices (us$) 11.2.2 Gdp Per Capita At Constant Prices (us$) 11.2.3 Gdp At Current Prices (us$) 11.2.4 Gdp Per Capita At Current Prices (us$) 11.2.5 Gdp By Key Segments 11.2.6 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$) 11.2.7 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices, As A Percentage Of Gdp 11.2.8 Manufacturing Net Output At Current Prices (us$) 11.2.9 Manufacturing Net Output At Current Prices As A Percentage Of Gdp 11.2.10 Mining, Manufacturing And Utilities At Current Prices (us$) 11.2.11 Mining, Manufacturing And Utilities At Current Prices As A Percentage Of Gdp 11.2.12 Construction Net Output At Current Prices (us$) 11.2.13 Construction Net Output At Current Prices As A Percentage Of Gdp 11.2.14 Inflation Rate 11.2.15 Exports As A Percentage Of Gdp 11.2.16 Imports As A Percentage Of Gdp 11.2.17 Exports Growth 11.2.18 Imports Growth 11.2.19 Annual Average Exchange Rate Us$–twn Life Insurance in Taiwan, Key Trends and Opportunities to 2017
  • 4. 11.3 Labor Force 11.3.1 Labor Force 11.3.2 Unemployment Rate 11.4 Demographics 11.4.1 Household Consumption Expenditure (us$) 11.4.2 Total Population 11.4.3 Age Distribution Of The Total Population 12 Appendix 12.1 Methodology 12.2 Contact Timetric 12.3 About Timetric 12.4 Timetric’s Services 12.5 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Life Insurance in Taiwan, Key Trends and Opportunities to 2017