Non-Life Insurance in Taiwan
Summary
Non-Life Insurance in Taiwan industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The Taiwanese non-life insurance market recorded written premiums of $8.2 billion in 2023, representing a compound annual growth rate (CAGR) of 7.1% between 2018 and 2023.
- The motor segment accounted for the market's largest proportion in 2023, with total written premiums of $4.2 billion, equivalent to 51.2% of the market's overall value.
- The Taiwanese non-life insurance market is experiencing significant growth, driven by rising awareness of the importance of insurance in safeguarding assets and mitigating financial risks. Additionally, the growing elderly population is significantly boosting demand for health insurance policies, as aging individuals increasingly prioritize comprehensive coverage to manage rising medical expenses and long-term care needs. According to the United States Census Bureau, the population of individuals aged 65 and above in Taiwan reached 4.2 million in 2023, reflecting a 4.7% increase from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the non-life insurance market in Taiwan
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Taiwan
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Taiwan non-life insurance market with five year forecasts by both value and volume
- What was the size of the Taiwan non-life insurance market by value in 2023?
- What will be the size of the Taiwan non-life insurance market in 2028?
- What factors are affecting the strength of competition in the Taiwan non-life insurance market?
- How has the market performed over the last five years?
- Who are the top competitors in Taiwan's non-life insurance market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What are the strengths and strategies of the leading players?
- 7.3. What are the challenges in the market?
- 8 Company Profiles
- 8.1. Fubon Insurance Co Ltd
- 8.2. Cathay United Bank Co Ltd
- 8.3. Chung Kuo Insurance Company, Limited
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Taiwan non-life insurance market value: $ billion, 2018-23
- Table 2: Taiwan non-life insurance market category segmentation: % share, by value, 2018-23
- Table 3: Taiwan non-life insurance market category segmentation: $ billion, 2018-23
- Table 4: Taiwan non-life insurance market geography segmentation: $ billion, 2023
- Table 5: Taiwan non-life insurance market value forecast: $ billion, 2023-28
- Table 6: Fubon Insurance Co Ltd: Key Facts
- Table 7: Fubon Insurance Co Ltd: Key Employees
- Table 8: Cathay United Bank Co Ltd: Key Facts
- Table 9: Cathay United Bank Co Ltd: Key Employees
- Table 10: Chung Kuo Insurance Company, Limited: Key Facts
- Table 11: Chung Kuo Insurance Company, Limited: Key Employees
- Table 12: Taiwan Size of Population (million), 2019-23
- Table 13: Taiwan Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 14: Taiwan GDP (Current Prices, $ Billion), 2019-23
- Table 15: Taiwan Inflation, 2019-23
- Table 16: Taiwan Consumer Price Index (Absolute), 2019-23
- Table 17: Taiwan Exchange Rate, 2018-23
- List of Figures
- Figure 1: Taiwan non-life insurance market value: $ billion, 2018-23
- Figure 2: Taiwan non-life insurance market category segmentation: $ billion, 2018-23
- Figure 3: Taiwan non-life insurance market geography segmentation: % share, by value, 2023
- Figure 4: Taiwan non-life insurance market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the non-life insurance market in Taiwan, 2023
- Figure 6: Drivers of buyer power in the non-life insurance market in Taiwan, 2023
- Figure 7: Drivers of supplier power in the non-life insurance market in Taiwan, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Taiwan, 2023
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Taiwan, 2023
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in Taiwan, 2023
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