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Taiwan Insurance Market Intelligence: 2011 Edition | Market Research Report On Aarkstore Enterprise

Taiwanese insurance industry has been growing mainly on account of liberalization policies introduced by the government in 1986, increased consumer awareness as well as the growing economy. Taiwan ranked third in terms of insurance density in Asia Pacific region in 2009. At the end of 2009, there were 54 insurance companies in Taiwan, of which 31 were engaged in life insurance business and 23 in non-life insurance sector.

Life insurance sector witnessed an increase in premiums in 2009 due to rise in demand for annuity insurances and retirement related policies because of the increasingly aging population in Taiwan. Following the implementation of third phase of price deregulation in April 2009, the non-life insurance companies’ premium income has been gradually declining because of fierce price competition, especially for fire and voluntary automobile insurance.

The Taiwanese insurance market is highly fragmented with a number of market players. Fubon is the market leader in both life and non-life insurance sectors in 2009. Other leading insurers include Ming Tai, South China, Cathay Century, Taian and Chung Kuo. Long-term care insurance is still at the preliminary stage of development and there is room for growth. Innovative products such as accident insurance, micro-insurance and foreign currency-dominated life policies have become popular in Taiwan. It is expected that the premium income from such products will increase and will drive the insurance market in future.

Table of Contents :
1. Industry Snapshot

1.1 Industry Structure
1.1.1 One of the Largest Insurance Markets in Asia Pacific Region
1.1.2 Liberalization policies encouraged entry of foreign players

1.2 Market Overview
1.2.1 Market Size & Growth
1.2.1.1 Non-life premiums experienced a decline; life premiums increased in 2009
1.2.1.2 Increasing demand for medical and nursing services for elderly
1.2.1.3 Innovative products like foreign currency-dominated life policies became popular

1.2.2 Market Segments
1.2.2.1 Life Is the Largest Segment of the Taiwan Insurance Industry
1.2.2.2 Fierce price war led to fall in premiums of non-life insurers over 2005-2009
1.2.2.3 Implementation of third phase of price deregulation in April 2009
1.2.2.4 Lowering of interest rates affected life insurance premiums

1.2.3 Market Density & Penetration
1.2.3.1 Rise in Insurance penetration in 2009

1.2.4 Market Size
1.2.4.1 Highly fragmented nature of life insurance sector
1.2.4.2 Fubon as largest personal health and life insurer
1.2.4.3 Declining market share of foreign companies due to financial crisis

2. Industry Analysis

2.1 Industry Developments
Deregulation of Wealth Management Business
Taiwan Imposed Financial Limits on Mainland Investors
Introduction of Micro-Insurance Business
FSC Expanded Health Insurance Business
Amendments of the Compulsory Automobile Liability Insurance Act
FSC Eased Risk-Based Capital requirements
Continued Review of Taiwan Residential Earthquake Insurance System
Adoption of International Financial Reporting Standards (IFRSs)
Mergers and Acquisitions

2.2 Market Drivers
Expanding Economy
Demand for Micro-Insurance
Demand for Residential Earthquake Insurance
Growth in Health Insurance Market

3. Country Analysis: Risk Assessment

3.1 Political Environment
3.2 Macro-economic Indicators: Current and Projections

4. Industry Outlook: Forecast and Projections
4.1 High growth opportunity in long term care insurance and foreign currency-dominated life policies
4.2 Conservative nature of the consumers & interest-sensitive annuity will led to slower growth in life premiums

For some-more information, Great fully visit:

http://www.aarkstore.com/reports/Taiwan-Insurance-Market-Intelligence-2011-Edition-40707.html

More Related Report:

http://www.aarkstore.com/publishers/Koncept-Analytics-9.html

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