Non-Life Insurance Market @

1. Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2017
Synopsis
The report provides in-depth market analysis, information and insights into the Taiwanese non-life insurance segment, including:
The Taiwanese non-life insurance segment’s growth prospects by non-life insurance categories Key trends and drivers for the non-life insurance
segment The various distribution channels in the Taiwanese non-life insurance segment An overview of the competitive landscape in the non-life insurance
segment in Taiwan An overview of the regulatory framework of the Taiwanese insurance industry A description of the non-life reinsurance segment in Taiwan
Porter's five forces analysis of the non-life insurance segment A benchmarking section on the Taiwanese non-life insurance segment in comparison to other
countries in the South-East Asian region
Executive summary
The size and significance of the Taiwanese non-life segment is relatively small compared with other Asian countries such as Japan and Hong Kong. The
Taiwanese non-life segment’s penetration stood at 0.75% in 2012, compared with Japan with 1.5% and Hong Kong with 0.9%, indicatign that there is a
large potential customer base in the country. Furthermore, Taiwan is one of the best performing economies in the East Asian region. Growing exports to key
Asian countries such as Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines have contributed to economic growth. In 2012, the total exports to
these countries valued US$56.1 billion, or approximately 19.0% of total Taiwanese exports. The continued growth in exports and the export-driven economy
generated business for the general liability category during the review period. As such, the general liability category grew at the fastest CAGR of 8.5% in the
non-life segment during the review period. This, combined with growth in motor insurance, drove the total growth of the non-life segment during the review
period. As such, the written premium of the segment increased from TWN96.7 billion (US$3.1 billion) in 2008 to TWN105.5 billion (US$3.6 billion) in 2012, at
a CAGR of 2.2% during the review period.
Scope
This report provides a comprehensive analysis of the non-life insurance segment in Taiwan:
It provides historical values for Taiwan’s non-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 Taiwan’s non-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 non-life insurance products in Taiwan Using
Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Taiwan for the non-life insurance segment It
provides a detailed analysis of the reinsurance segment in Taiwan and its growth prospects It profiles the top non-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 non-life insurance segment and each category within
it Understand the demand-side dynamics, key market trends and growth opportunities within the Taiwanese non-life insurance segment Assess the competitive
dynamics in the non-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 non-life segment’s penetration stood at 0.75% in 2012, compared with 1.5% in Japan and 0.9% in Hong Kong Taiwan is prone to
various fire-related disasters in its petrochemicals, power and textile industries, and other natural disasters such as earthquakes and typhoons, and there is a high
demand for insurance against natural disasters in the country The general liability category grew at the fastest CAGR of 8.5% in the non-life segment during the
review period Agencies were the largest channel and accounted for 54.8% of the total new business written premium in 2012, due to the increasing proportion of
the Taiwanese population owning automobiles and property The five leading companies collectively accounted for 61.3% 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 Regional Market Dynamics
3.1 Overview
3.2 Market Trends
3.3 Market Size
4 Non-life Insurance Segment – Regional Benchmarking
4.1 Scale And Penetration
4.1.1 Total Segment Gross Written Premium
4.1.2 Premium Per Capita
4.1.3 Non-life Insurance Penetration As A Percentage Of Gdp
4.2 Growth
Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2017

2. 4.2.1 Gross Written Premium
4.2.2 Gross Written Premium Per Capita
4.3 Efficiency And Risk
4.3.1 Loss Ratio
4.3.2 Combined Ratio
4.3.3 Incurred Losses Per Capita
4.3.4 Incurred Losses As A Share Of Gdp
5 Taiwanese Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008–2017
5.2 Key Industry Trends And Drivers
5.2.1 Business Drivers
6 Non-life Insurance Outlook
6.1 Non-life Insurance Growth Prospects By Category
6.1.1 Property Insurance
6.1.2 Fire And Allied Perils Insurance
6.1.3 Engineering Insurance
6.1.4 Other Property Insurance
6.2 Motor Insurance
6.2.1 Motor Hull Insurance
6.2.2 Motor Third-party Insurance
6.3 General Third-party Insurance
6.4 Marine, Aviation And Transit Insurance
6.4.1 Marine Insurance
6.4.2 Aviation Insurance
6.4.3 Transit Insurance
7 Analysis By Distribution Channels
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-commerce
7.5 Brokers
8 Porter’s Five Forces Analysis – Taiwanese Non-life Insurance Market
8.1 Bargaining Power Of Suppliers: Low
8.2 Bargaining Power Of Buyers: Medium-to-high
8.3 Barriers To Entry: High
8.4 Intensity Of Rivalry: Medium
8.5 Threat Of Substitutes: Low
9 Reinsurance Growth Dynamics And Challenges
9.1 Reinsurance Segment Size, 2008–2017
9.2 Reinsurance Segment Size By Type Of Insurance, 2008–2017
10 Governance, Risk And Compliance
10.1 Legislation Overview And Historical Evolution
10.2 Legislation Trends By Type Of Insurance
10.2.1 Life Insurance Regulatory Trends
10.2.2 Property Insurance Regulatory Trends
10.2.3 Motor Insurance Regulatory Trends
10.2.4 Liability Insurance Regulatory Trends
10.2.5 Marine, Aviation, And Transit Insurance Regulatory Trends
10.2.6 Personal Accident Insurance Regulatory Trends
10.2.7 Health Insurance Regulatory Trends
10.3 Compulsory Insurance
10.3.1 Automobile Liability Insurance Policy
10.4 Supervision And Control
10.4.1 International Association Of Insurance Supervisors (iais)
10.4.2 Insurance Bureau
10.5 Non-admitted Insurance Regulatory Trends
Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2017

3. 10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market Practices
10.5.4 Fines And Penalties
10.6 Company Registration And Operations
10.6.1 Types Of Insurance Organization
10.6.2 Establishing A Local Company
10.6.3 Foreign Ownership
10.6.4 Types Of License
10.6.5 Capital Requirements
10.6.6 Solvency Margins
10.6.7 Reserve Requirements
10.6.8 Investment Regulations
10.6.9 Statutory Return Requirements
10.7 Taxation
10.7.1 Insurance Premium Or Policy Taxation
10.7.2 Corporate Tax
10.7.3 Vat
10.7.4 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access To Court
10.8.3 Alternative Dispute Resolution (adr)
11 Competitive Landscape And Strategic Insights
11.1 Overview
11.2 Leading Companies In The Taiwanese Non-life Insurance Segment
11.3 Comparison Of The Top-five Insurers
11.3.1 Gross Claims
11.3.2 Loss Ratio
11.3.3 Total Assets
11.4 Fubon Insurance Company Ltd – Company Overview
11.4.1 Fubon Insurance Company Ltd – Key Facts
11.4.2 Fubon Insurance Company Ltd – Key Financials
11.5 Cathay Century Insurance Co., Ltd – Company Overview
11.5.1 Cathay Century Insurance Co., Ltd – Key Facts
11.5.2 Cathay Century Insurance Co., Ltd – Key Financials
11.6 Shinkong Insurance Co., Ltd – Company Overview
11.6.1 Shinkong Insurance Co., Ltd – Key Facts
11.6.2 Shinkong Insurance Co., Ltd – Key Financials
11.7 Tokio Marine Newa Insurance Co. Ltd – Company Overview
11.7.1 Tokio Marine Newa Insurance Co. Ltd – Key Facts
11.7.2 Tokio Marine Newa Insurance Co. Ltd – Key Financials
11.8 South China Insurance Company, Ltd – Company Overview
11.8.1 South China Insurance Company, Ltd – Key Facts
11.8.2 South China Insurance Company, Ltd – Key Financials
11.9 Taian Insurance Company, Ltd – Company Overview
11.9.1 Taian Insurance Company, Ltd – Key Facts
11.9.2 Taian Insurance Company, Ltd – Key Financials
11.1 Union Insurance Company, Ltd – Company Overview
11.10.1 Union Insurance Company, Ltd – Key Facts
11.10.2 Union Insurance Company, Ltd – Key Financials
11.11 Chung Kuo Insurance Company, Ltd – Company Overview
11.11.1 Chung Kuo Insurance Company, Ltd – Key Facts
11.11.2 Chung Kuo Insurance Company, Ltd – Key Financials
11.12 The First Insurance Co., Ltd – Company Overview
11.12.1 The First Insurance Co., Ltd – Key Facts
11.12.2 The First Insurance Co., Ltd – Key Financials
12 Business Environment And Country Risk
12.1 Business Confidence
12.1.1 Market Capitalization Trend – Taiwan Stock Exchange Corp. (twse)
12.2 Economic Performance
12.2.1 Gdp At Constant Prices (us$)
12.2.2 Gdp Per Capita At Constant Prices (us$)
12.2.3 Gdp At Current Prices (us$)
Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2017

4. 12.2.4 Gdp Per Capita At Current Prices (us$)
12.2.5 Gdp By Key Segments
12.2.6 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$)
12.2.7 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices, As A Percentage Of Gdp
12.2.8 Manufacturing Net Output At Current Prices (us$)
12.2.9 Manufacturing Net Output At Current Prices As A Percentage Of Gdp
12.2.10 Mining, Manufacturing And Utilities At Current Prices (us$)
12.2.11 Mining, Manufacturing And Utilities At Current Prices As A Percentage Of Gdp
12.2.12 Construction Net Output At Current Prices (us$)
12.2.13 Construction Net Output At Current Prices As A Percentage Of Gdp
12.2.14 Inflation Rate
12.2.15 Exports As A Percentage Of Gdp
12.2.16 Imports As A Percentage Of Gdp
12.2.17 Exports Growth
12.2.18 Imports Growth
12.2.19 Annual Average Exchange Rate Us$–twn
12.3 Labor Force
12.3.1 Labor Force
12.3.2 Unemployment Rate
12.4 Demographics
12.4.1 Household Consumption Expenditure (us$)
12.4.2 Total Population
12.4.3 Age Distribution Of The Total Population
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric’s Services
13.5 Disclaimer
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Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2017