Personal Accident and Health Insurance in Taiwan, Key Trends and Opportunities to 2017

Published: Jan, 2014 | Pages: 206 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in-depth market analysis, information and insights into the Taiwanese personal accident and health insurance segment, including:
The Taiwanese personal accident and health insurance segment's growth prospects by insurance categories 
Key trends and drivers for the personal accident and health insurance segment 
The various distribution channels in the Taiwanese personal accident and health insurance segment
An overview of the competitive landscape in the personal accident and health insurance segment in Taiwan
An overview of the regulatory framework of the Taiwanese insurance industry
A description of the personal accident and health reinsurance segment in Taiwan
Porter's five forces analysis of the personal accident and health insurance segment
A benchmarking section on the Taiwanese personal accident and health insurance segment in comparison to other countries in the South-East Asian region 

Summary
The Taiwanese personal accident and health insurance segment grew at a CAGR of 6.8% during the review period (2008?2012). This was due to strong growth registered in the health insurance category, which grew at a compound annual growth rate (CAGR) of 8.5%. The growth was further supported by improved economic development and rising healthcare expenses. These factors are expected to support the segment's growth over the forecast period (2012?2017) also. The written premium of the personal accident and health insurance segment is expected to increase from TWN331.8 billion (US$11.2 billion) in 2012 to TWN448.6 billion (US$15.4 billion) in 2017, recording a forecast-period CAGR of 6.2%.  
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Taiwan:
It provides historical values for Taiwanese personal accident and health 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 the Taiwanese personal accident and health 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 personal accident and health insurance products in Taiwan
Using Porter's industry-standard "five forces" analysis, it details the competitive landscape in Taiwan for the personal accident and health insurance segment
It provides a detailed analysis of the reinsurance segment in Taiwan and its growth prospects
It profiles the top personal accident and health insurance companies in Taiwan and outlines the key regulations affecting them 
Reason To Buy
 Make strategic business decisions using in-depth historic and forecast market data related to the Taiwanese personal accident and health insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within the Taiwanese personal accident and health insurance segment
Assess the competitive dynamics in the personal accident and health 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 segment and its impact on companies and the market's future 
Key Highlights
 The Taiwanese personal accident and health insurance segment grew at a review-period CAGR of 6.8%
Favorable demographic factors such as increased life expectancy and population growth among the elderly are likely to accelerate demand for health insurance
During the review period, personal accident and health insurance providers benefited from low combined ratios, resulting in underwriting profits
Agencies were the largest channel, with an 87.6% share of the total commission for distributing personal accident and health products in 2012
The five leading companies accounted for 70.4% of the segment's gross written premium in 2012

 1 Executive Summary
2 Introduction
2.1 What is This Report About?
2.2 Definitions
2.3 Methodology
3 Regiol Market Dymics
3.1 Overview
3.2 Market Trends
3.3 Market Size
4 Persol Accident and Health Insurance Segment-Regiol Benchmarking
4.1 Scale and Penetration
4.1.1 Total segment gross written premium
4.1.2 Premium per capita
4.1.3 Persol accident and health insurance penetration as a percentage of GDP
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a percentage of GDP
5 Taiwanese Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008-2017
5.2 Key Industry Trends and Drivers
5.2.1 Business drivers
6 Persol Accident and Health Insurance Segment Outlook
6.1 Persol Accident and Health Insurance Growth Prospects by Category
6.1.1 Persol accident insurance
6.1.2 Health insurance
6.1.3 Non-life health insurance
6.1.4 Life health insurance
7 Alysis by Distribution Channels
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-commerce
7.5 Brokers
8 Porter's Five Forces Alysis - Persol Accident and Health Insurance
8.1 Bargaining Power of Supplier: Medium
8.2 Bargaining Power of Buyer: High
8.3 Barriers to Entry: Medium
8.4 Intensity of Rivalry: Medium to High
8.5 Threat of Substitutes: Medium
9 Reinsurance Growth Dymics and Challenges
9.1 Reinsurance Segment Size, 2008-2017
9.2 Reinsurance Segment Size by Type of Insurance, 2008-2017
10 Governce, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Legislation Trends by Type of Insurance
10.2.1 Life insurance regulatory trends
10.2.2 Property insurance regulatory trends
10.2.3 Motor insurance regulatory trends
10.2.4 Liability insurance regulatory trends
10.2.5 Marine, aviation, and transit insurance regulatory trends
10.2.6 Persol accident insurance regulatory trends
10.2.7 Health insurance regulatory trends
10.3 Compulsory Insurance
10.3.1 Automobile liability insurance policy
10.4 Supervision and Control
10.4.1 Intertiol Association of Insurance Supervisors (IAIS)
10.4.2 Insurance Bureau
10.5 Non-Admitted Insurance Regulatory Trends
10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market practices
10.5.4 Fines and pelties
10.6 Company Registration and Operations
10.6.1 Types of insurance organization
10.6.2 Establishing a local company
10.6.3 Foreign ownership
10.6.4 Types of license
10.6.5 Capital requirements
10.6.6 Solvency margins
10.6.7 Reserve requirements
10.6.8 Investment regulations
10.6.9 Statutory return requirements
10.7 Taxation
10.7.1 Insurance premium or policy taxation
10.7.2 Corporate tax
10.7.3 VAT
10.7.4 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access to court
10.8.3 Altertive dispute resolution (ADR)
11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the Taiwanese Persol Accident and Health Insurance Segment
11.3 Cathay Life Insurance Co., Ltd - Company Overview
11.3.1 Cathay Life Insurance Co., Ltd - key facts
11.4 n Shan Life Insurance Company, Ltd - Company Overview
11.4.1 n Shan Life Insurance Company, Ltd - key facts
11.5 Fubon Life Insurance Co., Ltd - Company Overview
11.5.1 Fubon Life Insurance Co., Ltd - key facts
11.6 Shin Kong Life Insurance Co., Ltd - Company Overview
11.6.1 Shin Kong Life Insurance Co., Ltd - key facts
11.7 MassMutual Mercuries Life Insurance Co., Ltd - Company Overview
11.7.1 MassMutual Mercuries Life Insurance Co., Ltd - key facts
11.8 Chi Life Insurance Co., Ltd - Company Overview
11.8.1 Chi Life Insurance Co., Ltd - key facts
11.9 Kuo Hua Life Insurance Co., Ltd - Company Overview
11.9.1 Kuo Hua Life Insurance Co., Ltd - key facts
11.1 Far Glory Life Insurance Co., Ltd - Company Overview
11.10.1 Far Glory Life Insurance Co., Ltd - key facts
11.11 Taiwan Life Insurance Co. Ltd - Company Overview
11.11.1 Taiwan Life Insurance Co. Ltd - key facts
11.12 Cig Taiwan Life Insurance Company Ltd - Company Overview
11.12.1 Cig Taiwan Life Insurance Company Ltd - key facts
12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend - Taiwan Stock Exchange Corp. (TWSE)
12.2 Economic Performance
12.2.1 GDP at constant prices (US$)
12.2.2 GDP per capita at constant prices (US$)
12.2.3 GDP at current prices (US$)
12.2.4 GDP per capita at current prices (US$)
12.2.5 GDP by key segments
12.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
12.2.7 Agriculture, hunting, forestry and fishing net output at current prices, as a percentage of GDP
12.2.8 Manufacturing net output at current prices (US$)
12.2.9 Manufacturing net output at current prices as a percentage of GDP
12.2.10 Mining, manufacturing and utilities at current prices (US$)
12.2.11 Mining, manufacturing and utilities at current prices as a percentage of GDP
12.2.12 Construction net output at current prices (US$)
12.2.13 Construction net output at current prices as a percentage of GDP
12.2.14 Inflation rate
12.2.15 Exports as a percentage of GDP
12.2.16 Imports as a percentage of GDP
12.2.17 Exports growth
12.2.18 Imports growth
12.2.19 Annual average exchange rate US$-TWN
12.3 Labor Force
12.3.1 Labor force
12.3.2 Unemployment rate
12.4 Demographics
12.4.1 Household consumption expenditure (US$)
12.4.2 Total population
12.4.3 Age distribution of the total population
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric's Services
13.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Southeast Asia - Life Expectancy, 2000 and 2012
Table 3: Taiwanese Insurance - Overall Written Premium by Segment (TWN Billion), 2008-2012
Table 4: Taiwanese Insurance - Overall Written Premium by Segment (US$ Billion), 2008-2012
Table 5: Taiwanese Insurance - Overall Written Premium by Segment (TWN Billion), 2012-2017
Table 6: Taiwanese Insurance - Overall Written Premium by Segment (US$ Billion), 2012-2017
Table 7: Taiwanese Insurance - Segmentation (% Share), 2008-2017
Table 8: Taiwanese Persol Accident and Health Insurance - Written Premium by Category (TWN Billion), 2008-2012
Table 9: Taiwanese Persol Accident and Health Insurance - Written Premium by Category (US$ Billion), 2008-2012
Table 10: Taiwanese Persol Accident and Health Insurance - Written Premium by Category (TWN Billion), 2012-2017
Table 11: Taiwanese Persol Accident and Health Insurance - Written Premium by Category (US$ Billion), 2012-2017
Table 12: Taiwanese Persol Accident and Health Insurance - Earned Premium (TWN Billion), 2008-2012
Table 13: Taiwanese Persol Accident and Health Insurance - Earned Premium (TWN Billion), 2012-2017
Table 14: Taiwanese Persol Accident and Health Insurance - Paid Claims by Category (TWN Billion), 2008-2012
Table 15: Taiwanese Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2008-2012
Table 16: Taiwanese Persol Accident and Health Insurance - Paid Claims by Category (TWN Billion), 2012-2017
Table 17: Taiwanese Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2012-2017
Table 18: Taiwanese Persol Accident and Health Insurance - Incurred Loss by Category (TWN Billion), 2008-2012
Table 19: Taiwanese Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2008-2012
Table 20: Taiwanese Persol Accident and Health Insurance - Incurred Loss by Category (TWN Billion), 2012-2017
Table 21: Taiwanese Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2012-2017
Table 22: Taiwanese Persol Accident and Health Insurance - Loss Ratio (%), 2008-2012
Table 23: Taiwanese Persol Accident and Health Insurance - Loss Ratio (%), 2012-2017
Table 24: Taiwanese Persol Accident and Health Insurance - Commission and Expenses (TWN Billion), 2008-2012
Table 25: Taiwanese Persol Accident and Health Insurance - Commission and Expenses (TWN Billion), 2012-2017
Table 26: Taiwanese Persol Accident and Health Insurance - Combined Ratio (%), 2008-2012
Table 27: Taiwanese Persol Accident and Health Insurance - Combined Ratio (%), 2012-2017
Table 28: Taiwanese Persol Accident and Health Insurance - Frauds and Crimes (TWN Billion), 2008-2012
Table 29: Taiwanese Persol Accident and Health Insurance - Frauds and Crimes (TWN Billion), 2012-2017
Table 30: Taiwanese Persol Accident and Health Insurance - Total Assets (TWN Billion), 2008-2012
Table 31: Taiwanese Persol Accident and Health Insurance - Total Assets (TWN Billion), 2012-2017
Table 32: Taiwanese Persol Accident and Health Insurance - Total Investment Income (TWN Billion), 2008-2012
Table 33: Taiwanese Persol Accident and Health Insurance - Total Investment Income (TWN Billion), 2012-2017
Table 34: Taiwanese Persol Accident and Health Insurance - Retentions (TWN Billion), 2008-2012
Table 35: Taiwanese Persol Accident and Health Insurance - Retentions (TWN Billion), 2012-2017
Table 36: Taiwanese Persol Accident Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 37: Taiwanese Persol Accident Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 38: Taiwanese Persol Accident Insurance - Written Premium (TWN Billion), 2008-2012
Table 39: Taiwanese Persol Accident Insurance - Written Premium (TWN Billion), 2012-2017
Table 40: Taiwanese Persol Accident Insurance - Loss Ratio (%), 2008-2012
Table 41: Taiwanese Persol Accident Insurance - Loss Ratio (%), 2012-2017
Table 42: Taiwanese Health Insurance - Written Premium by Sub-Category (TWN Billion), 2008-2012
Table 43: Taiwanese Health Insurance - Written Premium by Sub-Category (US$ Billion), 2008-2012
Table 44: Taiwanese Health Insurance - Written Premium by Sub-Category (TWN Billion), 2012-2017
Table 45: Taiwanese Health Insurance - Written Premium by Sub-Category (US$ Billion), 2012-2017
Table 46: Taiwanese Non-Life Health Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 47: Taiwanese Non-Life Health Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 48: Taiwanese Non-Life Health Insurance - Written Premium (TWN Billion), 2008-2012
Table 49: Taiwanese Non-Life Health Insurance - Written Premium (TWN Billion), 2012-2017
Table 50: Taiwanese Non-Life Health Insurance - Loss Ratio (%), 2008-2012
Table 51: Taiwanese Non-Life Health Insurance - Loss Ratio (%), 2012-2017
Table 52: Taiwanese Life Health Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 53: Taiwanese Life Health Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 54: Taiwanese Life Health Insurance - Written Premium (TWN Billion), 2008-2012
Table 55: Taiwanese Life Health Insurance - Written Premium (TWN Billion), 2012-2017
Table 56: Taiwanese Life Health Insurance - Loss Ratio (%), 2008-2012
Table 57: Taiwanese Life Health Insurance - Loss Ratio (%), 2012-2017
Table 58: Taiwanese Persol Accident and Health Insurance - Direct Marketing Commission Paid (TWN Billion), 2008-2012
Table 59: Taiwanese Persol Accident and Health Insurance - Direct Marketing Commission Paid (TWN Billion), 2012-2017
Table 60: Taiwanese Persol Accident and Health Insurance - Written Premium Through Direct Marketing (TWN Billion), 2008-2012
Table 61: Taiwanese Persol Accident and Health Insurance - Written Premium Through Direct Marketing (TWN Billion), 2012-2017
Table 62: Taiwanese Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2008-2012
Table 63: Taiwanese Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2012-2017
Table 64: Taiwanese Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2008-2012
Table 65: Taiwanese Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2012-2017
Table 66: Taiwanese Persol Accident and Health Insurance - Bancassurance Commission Paid (TWN Billion), 2008-2012
Table 67: Taiwanese Persol Accident and Health Insurance - Bancassurance Commission Paid (TWN Billion), 2012-2017
Table 68: Taiwanese Persol Accident and Health Insurance - Written Premium Through Bancassurance (TWN Billion), 2008-2012
Table 69: Taiwanese Persol Accident and Health Insurance - Written Premium Through Bancassurance (TWN Billion), 2012-2017
Table 70: Taiwanese Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2008-2012
Table 71: Taiwanese Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2012-2017
Table 72: Taiwanese Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2008-2012
Table 73: Taiwanese Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2012-2017
Table 74: Taiwanese Persol Accident and Health Insurance - Commission Paid to Agencies (TWN Billion), 2008-2012
Table 75: Taiwanese Persol Accident and Health Insurance - Commission Paid to Agencies (TWN Billion), 2012-2017
Table 76: Taiwanese Persol Accident and Health Insurance - Written Premium Through Agencies (TWN Billion), 2008-2012
Table 77: Taiwanese Persol Accident and Health Insurance - Written Premium Through Agencies (TWN Billion), 2012-2017
Table 78: Taiwanese Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2008-2012
Table 79: Taiwanese Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2012-2017
Table 80: Taiwanese Persol Accident and Health Insurance - Number of Agencies, 2008-2012
Table 81: Taiwanese Persol Accident and Health Insurance - Number of Agencies, 2012-2017
Table 82: Taiwanese Persol Accident and Health Insurance - E-Commerce Commission Paid (TWN Billion), 2008-2012
Table 83: Taiwanese Persol Accident and Health Insurance - E-Commerce Commission Paid (TWN Billion), 2012-2017
Table 84: Taiwanese Persol Accident and Health Insurance - Written Premium Through E-Commerce (TWN Billion), 2008-2012
Table 85: Taiwanese Persol Accident and Health Insurance - Written Premium Through E-Commerce (TWN Billion), 2012-2017
Table 86: Taiwanese Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2008-2012
Table 87: Taiwanese Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2012-2017
Table 88: Taiwanese Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2008-2012
Table 89: Taiwanese Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2012-2017
Table 90: Taiwanese Persol Accident and Health Insurance - Commission Paid to Brokers (TWN Billion), 2008-2012
Table 91: Taiwanese Persol Accident and Health Insurance - Commission Paid to Brokers (TWN Billion), 2012-2017
Table 92: Taiwanese Persol Accident and Health Insurance - Written Premium Through Brokers (TWN Billion), 2008-2012
Table 93: Taiwanese Persol Accident and Health Insurance - Written Premium Through Brokers (TWN Billion), 2012-2017
Table 94: Taiwanese Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2008-2012
Table 95: Taiwanese Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2012-2017
Table 96: Taiwanese Persol Accident and Health Insurance - Number of Brokers, 2008-2012
Table 97: Taiwanese Persol Accident and Health Insurance - Number of Brokers, 2012-2017
Table 98: Reinsurance in Taiwanese by Category (TWN Billion), 2008-2012
Table 99: Reinsurance in Taiwanese by Category (US$ Billion), 2008-2012
Table 100: Reinsurance in Taiwan by Category (TWN Billion), 2012-2017
Table 101: Reinsurance in Taiwanese by Category (US$ Billion), 2012-2017
Table 102: Taiwanese Premium Ceded to Reinsurance by Type of Insurance (TWN Billion), 2008-2012
Table 103: Taiwanese Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008-2012
Table 104: Taiwanese Premium Ceded to Reinsurance by Type of Insurance (TWN Billion), 2012-2017
Table 105: Taiwanese Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012-2017
Table 106: Taiwanese Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 107: Taiwanese Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 108: Taiwan - Corporate Tax Rates for the Fincial Year 2013
Table 109: Shares of Key Insurers in the Taiwanese Persol Accident and Health Insurance Segment (%), 2012
Table 110: Cathay Life Insurance Co., Ltd, Key Facts
Table 111: n Shan Life Insurance Company, Ltd, Key Facts
Table 112: Fubon Life Insurance Co., Ltd, Key Facts
Table 113: Shin Kong Life Insurance Co., Ltd, Key Facts
Table 114: MassMutual Mercuries Life Insurance Co., Ltd, Key Facts
Table 115: Chi Life Insurance Co., Ltd, Key Facts
Table 116: Kuo Hua Life Insurance Co., Ltd, Key Facts
Table 117: Far Glory Life Insurance Co., Ltd, Key Facts
Table 118: Taiwan Life Insurance Co. Ltd, Key Facts
Table 119: Cig Taiwan Life Insurance Company Ltd, Key Facts