Independent Forecasts and Competitive Intelligence on Taiwan's Insurance Industry for Q2 2008
DUBLIN, Ireland--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/research/f5fe3c/taiwan_insurance_r)
has announced the addition of the "Taiwan Insurance Report Q2 2008"
report to their offering.
As was the case in Q108, the main focus of this report is BMI's
proprietary Insurance Business Environment Rating (IBER). The rating
brings together a number of pieces of relevant quantitative data,
together with BMI's Country Risk Rating (CRR). The IBER makes it
easier for the business environment's insurance sector in a particular
country to be compared with the business environment for any other
industry in that country that is surveyed by BMI. The IBER also allows
an objective and meaningful comparison of the business environment for
the insurance sector in one country with the business environment for
insurance in another country. Over the coming months, we will
substantially change the format of the BMI insurance reports. In
essence, we will focus to a much greater extent on the companies that
are active in the non-life and life segments.
Taiwan's IBER is 68.8. Relative to other countries in the Asia
Pacific region, it is an attractive insurance market for foreign
insurers. As is not unusual in the region, the IBER is held back by
the lack of a supporting legal framework and the opaque regulatory
bureaucracy. The feature of Taiwan's insurance market is the large
absolute size of its life segment. The economic situation, being as
dependent as it is on exports, raises concerns. On the other hand the
Chinese economy continues to grow strongly and the Chinese market may
well counterbalance any decline in Western demand, especially from the
United States.
Over the forecast period, we anticipate that non-life premiums
will grow by 12% annually in local currency terms and by 14% in US
dollar terms. Life premiums are expected to increase by only 1%
annually in local currency terms and by 3% in US dollar terms. The key
drivers of growth in the non-life segment in 2007-2012 are the
anticipated rise in nominal GDP from around US$378.93bn to US$566.40bn
and an expected increase in non-life penetration from 2.47% of GDP to
3.20%. The key driver of growth in the life segment is the envisaged
rise in life density from US$1,926.84 per capita in 2007 to US$2,200
per capita in 2012. Taiwan's total population is expected to grow
marginally from 23mn to 23.37mn in the same period.
At present the life sector is almost five times as large as the
non-life market. Over the forecast period, however, the much faster
rate of growth in non-life business will see the life business reduced
to just 2.8 times as large as the non-life segment by the end of 2012.
In general, Taiwan is a relatively low-risk insurance environment.
Key Topics Covered:
- The Sector At A Glance
- Table: Overview Of Taiwan's Insurance Sector
- Key Insights On The Taiwanese Insurance Sector
- SWOT Analysis
- Taiwan Industry SWOT
- Future Development Of BMI's Insurance Reports
- Latest News
- Projections And Forec10
- Table: Premium Growth, 2005-2012
- Projections And Drivers Of Growth
- Table: Growth Drivers
- Country Update
- Macroeconomic Outlook
- Table: Taiwan - Economic Activity
- Political Outlook
- Foreign Policy
- Insurance Business Environment Rating
- Table: Taiwan - Insurance Business Environment Indicators
- Table: Asia Pacific Insurance Business Environment Rankings
- Regional Context
- Table: Non-Life Premiums In A Regional Context, 2007
- Table: Life Premiums In A Regional Context, 2007
- Table: Comparison Of Major Lines As % Non-Life Premiums, 2006
- Analysis Of Competitive Conditions
- Taiwan - Non-Life Segment
- Table: Presence Of Cross-Border Insurers, Non-Life
- Taiwan - Life Segment
- Table: Presence Of Cross-Border Insurers, Life
- Methodology
- Basis Of Projections
- Insurance Business Environment Rating
- Table: Insurance Business Environment Indicators And Rationale
- Table: Weighting Of Indicators
For more information visit
http://www.researchandmarkets.com/research/f5fe3c/taiwan_insurance_r
Research and Markets
Laura Wood
Senior Manager
Fax from USA: 646-607-1907
Fax from rest of the world: +353-1-481-1716
press@researchandmarkets.com
Copyright Business Wire 2008
