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"Taiwan Insurance Report Q1 2014" is now available at Fast Market Research

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2013-12-29 20:48:24 - New Financial Services market report from Business Monitor International: "Taiwan Insurance Report Q1 2014"

As of late 2013, the leading players in Taiwan's insurance sector (and the enormous life segment in particular) are tending to focus on profitability rather than top line growth. As in other countries, low interest rates and slow nominal GDP growth are challenges. Nevertheless, there remains significant scope for particular companies to develop niche products

As of late 2013, BMI continues to see Taiwan's insurance sector as standing out from its peers in other countries for two reasons. The first is that, by many metrics, density (ie premiums per capita) in particular, the country is an exceptionally highly developed market for insurance. A country that for much of the last 30 years has consistently run a current account surplus has mobilised

savings substantially through a life insurance segment that is dominated by massive domestic financial conglomerates. The absolute size, relative size, access to capital, brand and distribution networks of the massive Taiwanese financial services conglomerates - Cathay, Fubon and Shin Kong - which own the eponymous life companies and associated non-life companies, make them formidable competitors. Chunghwa Post - the local counter part of Japan Post Insurance or La Poste in France - is also an important player in the life segment. In essence, the competitive landscape has been shaped by Taiwan's peculiar political situation. Like their South African and Israeli counterparts, the Taiwanese financial giants have had limited access to foreign capital for much of their history - and have had to engage in complex deal making within the national boundaries. Nevertheless, as Allianz and - under AIG's ownership - Nan Shan have shown, it is possible for foreign companies to build very substantial businesses in Taiwan.

Full Report Details at

However, the latest newsflow tends to emphasise the challenges rather than the opportunities. Absolute growth in both segments is, by many metrics, quite slow. Crucially, many of the leading life companies have been focusing on particular products or distribution channels in order to boost profitability. This is at a time that most of the life insurance companies are earning investment returns that are similar to (and indeed, in some instances, lower than) the cost of funding. Towards the end of last year, HSBC Insurance announced that it would sell its operation in Taiwan to Allianz as a part of a regional bancassurance deal. Some of the giant local life companies have been substantial investors to eurozone bonds - although some, at least, have been reducing exposures to Spain and other peripheral countries.

Report Table of Contents:

BMI Industry View
- Table: Taiwan Total Premiums, 2010-2017
- Insurance
- Political
- Economic
- Business Environment
Industry Forecast
- Life
- Table: Taiwan Total Life Premiums, 2010-2017
- Non-Life
- Table: Taiwan Non-Life Premiums, 2010-2017
Industry Risk Reward Ratings
- Taiwan Insurance Risk/Reward Ratings
- Table: Taiwan's Insurance Risk/Reward Ratings
- Asia Pacific Industry Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
Market Overview
- Life Sector Update
- Non-Life Sector Update
Industry Trends And Developments
- Life Growth Drivers and Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics, 2010-2017
- Non-Life Growth Drivers and Risk Management Projections
- Macroeconomic Outlook
- Strong Headwinds To Growth To Prevail In 2014
- Political Stability Outlook
- Table: Asia Pacific Regional Security Ratings
- Healthcare System
- Healthcare Insurance
- Healthcare Financing
- Epidemiology
- Motor
- Table: Insurance Key Drivers, Autos 2010-2017
Competitive Landscape
- Asia Pacific Competitive Landscape
Company Profile
- AIA Group
- Allianz
- American International Group (AIG)
- Cathay Financial Holdings (Cathay Life/Cathay Century)
- China Life (Taiwan)
- Chunghwa Post
- Fubon Financial (Fubon Life/Fubon Insurance)
- HSBC Insurance
- Manulife Financial
- Nan Shan Life
- Prudential plc
- Shin Kong Financial Holding (Shin Kong Life)
- Sun Life Financial
- Zurich Insurance Group
Regional Overview
- Asia Non-Life Sector Overview
- Table: Asia Pacific's Non Life Premiums, 2010-2017 (US$mn)
- Asia Life Sector Overview
- Table: Asia Pacific Life Premiums, 2010-2017 (US$mn)
Demographic Forecast
- Demographic Outlook
- Table: Taiwan's Population By Age Group, 1990-2020 ('000)
- Table: Taiwan's Population By Age Group, 1990-2020 (% Of Total)
- Table: Taiwan's Key Population Ratios, 1990-2020
- Industry Forecast Methodology
- Risk/Reward Rating Methodology
- Table: Insurance Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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