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Taiwan Insurance Report Q3 2013 - New Market Study Published

New Financial Services research report from Business Monitor International is now available from Fast Market Research


Boston, MA -- (SBWIRE) -- 08/14/2013 -- As of mid-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.

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