2014-01-23 21:34:08 - Recently published research from Timetric, "Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2017", is now available at Fast Market Research
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%, indicating 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.
Full Report Details at
- www.fastmr.com/prod/764225_nonlife_insurance_in_taiwan_key_trend ..
* 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
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 Get this Report
* 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
Companies Mentioned in this Report: Fubon Insurance Company Ltd, Cathay Century Insurance Co., Ltd, Shinkong Insurance Co., Ltd, Tokio Marine Newa Insurance Co. Ltd, South China Insurance Company Ltd, Taian Insurance Company Ltd, Union Insurance Company Ltd, Chung Kuo Insurance Co. Ltd, The First Insurance Co., Ltd
Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. They provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. View more research from Timetric at www.fastmr.com/catalog/publishers.aspx?pubid=1037
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