Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Jul 2024

Market Profile


Taiwan

Multi-pronged strategy to close the protection gap

Taiwan Financial Supervisory Commission Insurance Bureau’s Ms Chiung-Hwa Shih speaks about how the regulator is working to create a better insurance ecosystem.
 

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Taiwan's super-aged society drives demand for protection-oriented products

In recent years, the Taiwanese life insurance market has seen a cocktail of challenges due to continuous Fed rate hikes, inflation, exchange rate fluctuations, stringent regulatory supervision and new regulations for investment-linked products.
 

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Life industry expects major turnaround in 2024

The Taiwanese life insurance industry saw a 13% fall in first-year premium at NT$671bn ($21bn) in 2023, but insurers are optimistic of a major turnaround in 2024 as the economy stabilises and market conditions improve.
 

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General insurance grows in Taiwan, but headwinds remain

Over the past year, almost all non-life insurance lines in Taiwan have maintained positive growth. However, challenges continue to loom over the industry, including continued inflation and Nat CAT. 
 

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Engineering insurance tops premium growth in Taiwan

The resilience of Taiwan’s economy and high net financial assets are expected to boost the life insurance sector by 5% in 2024.
 
 

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