By Research and Markets (http://www.researchandmarkets.com/research/m5z5cc/nonlife) has announced the addition of the "Non-Life Insurance in Taiwan, Key Trends and Opportunities to 2017" report to their offering.
This report provides in-depth market analysis, information and insights into the Taiwanese non-life insurance segment, including:
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.
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
Key Topics Covered:
1 Executive Summary
2 Introduction
3 Regional Market Dynamics
4 Non-Life Insurance Segment - Regional Benchmarking
5 Taiwanese Insurance Industry Attractiveness
6 Non-Life Insurance Outlook
7 Analysis by Distribution Channels
8 Porter's Five Forces Analysis - Taiwanese Non-Life Insurance Market
9 Reinsurance Growth Dynamics and Challenges
10 Governance, Risk and Compliance
11 Competitive Landscape and Strategic Insights
12 Business Environment and Country Risk
13 Appendix
List of Tables
List of Figures
Companies Mentioned
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
For more information visit http://www.researchandmarkets.com/research/m5z5cc/nonlife
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Sector: Insurance
