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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Taiwan non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Taiwan's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Taiwan non-life (P&C) market as well as trends by line of business. Axco analysts also report on Taiwan's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Taiwan's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Taiwan, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Taiwan, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Taiwan with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The Taiwan non-life market is dominated by motor business, which accounted for 53.2% of non-life income in 2019. Property, including business interruption, accounted for 14.3%, and PA/health written by non-life insurers 12.8%. Liability, MAT and engineering are the other main classes, but are comparatively small. Health business is restricted to non-life insurers by three-year non-cancellable policies, although the life market dominates by cross-selling with non-cancellable business as riders.
The market is dominated by Taiwanese companies, the leader being ....
This is a brief extract of information; more updated information may be available in the latest published report.