Albany, NY -- (SBWIRE) -- 03/03/2015 -- Synopsis

The Taiwanese life insurance segment grew at a compound annual growth rate (CAGR) of 6.6% during the review period (2009–2013), due to the strong regulatory environment, aging population and economic recovery. The individual life insurance sub-segment performed strongly among the life insurance categories and registered a review-period CAGR of 9.2%, although the segment's growth slowed due to Taiwan's low interest rates. Short-term annuity products were preferred by Taiwanese customers as such products typically offer a better yield compared to banks, although they also led to more people being susceptible to risks to the global equity market. As a result, the FSC restricts the sale of such policies and consumers were left with investing in long term insurance products. Due to this in 2011, the number of general annuity products sold declined in comparison to that of 2009. In May 2013, the FSC of Taiwan made amendment regarding foreign investments by insurance companies. This gave more flexibility to the domestic insurance companies to optimize their investments. The rapidly aging population, improving economic conditions and strong regulatory environment is expected to drive the life segment over the forecast period (2013–2018).

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Summary

The report provides in-depth market analysis, information and insights into the Taiwanese life insurance segment, including:

* The Taiwanese life insurance segment's growth prospects by life insurance category

* Key trends and drivers for the life insurance segment

* The various distribution channels in the Taiwanese life insurance segment

* The detailed competitive landscape in the life insurance segment in Taiwan

* Detailed regulatory policies of the Taiwanese insurance industry

* Analysis of various consumer segments in Taiwanese life insurance

* Key developments in the Taiwanese life insurance segment

* New products launched by Taiwanese life insurers

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Scope

This report provides a comprehensive analysis of the life insurance segment in Taiwan:

* It provides historical values for the Taiwanese life insurance segment for the report's 2009–2013 review period, and projected figures for the 2013–2018 forecast period.

* It offers a detailed analysis of the key categories in the Taiwanese life insurance segment, along with market forecasts until 2018.

* 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 life insurance products in Taiwan.

* It profiles the top life insurance companies in Taiwan and outlines the key regulations affecting them.

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Reasons To Buy

* Make strategic business decisions using in-depth historic and forecast market data related to the Taiwanese life insurance segment and each category within it.

* Understand the demand-side dynamics, key market trends and growth opportunities in the Taiwanese life insurance segment.

* Assess the competitive dynamics in the life insurance segment.

* Identify the growth opportunities and market dynamics in key product categories.

* Gain insights into key regulations governing the Taiwanese insurance industry and their impact on companies and the industry's future.

Key Highlights

* The Taiwanese insurance industry was dominated by life insurance in 2013, which accounted for 82.3% of the overall industry gross written premium.

* In terms of life insurance distribution, bancassurance was the leading distribution channel with a segment share of 50.9% of the gross written premium from new business, followed by insurance agents with 44.8%, and the direct marketing channel with 3.3% in 2013.

* On August 29, 2014, the FSC passed a regulation that allowed non-investment-linked life insurance policyholders in Taiwan to switch to other policies such as health insurance, long-term care insurance and annuities, according to their requirements.

* The new labor pension system came into force in 2014, stating that any business entity employing a minimum 200 workers shall decide through their respective labor unions whether to adopt an annuity insurance program.

* In an attempt to supply basic insurance to the low-income population, in November 2009 the FSC allowed insurers operating in Taiwan to sell micro insurance. Several insurance providers in Taiwan showed an interest and obtained FSC approval to sell the products.

* In terms of gross written premium, Taiwan's was one of the world's top 20 insurance industries in 2013, and in terms of premium per capita, Taiwan was one of the five leading countries in Asia.

Table Of Content

1 Key Facts and Events

2 Executive Summary

3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology

4 Taiwanese Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009–2018

5 Life Insurance Outlook
5.1 Consumer Segmentation
5.2 Key Drivers
5.3 Key Trends
5.4 Challenges
5.5 Life Insurance Growth Prospects by Category
5.6 Individual Life Insurance
5.6.1 Individual whole life insurance
5.6.2 Individual general annuity insurance
5.7 Group Whole Life Insurance
5.8 Life Insurance Growth Prospects by Customer Segment
5.8.1 Individual single-premium insurance

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