Reinsurance in Taiwan, Key Trends and Opportunities to 2017

Date: 2015-09

In terms of gross written premium, the Taiwanese reinsurance segment declined from TWN9.3 billion (US$0.3 billion) in 2008 to TWN8.3 billion (US$0.28 billion) in 2012, at a compound annual growth rate (CAGR) of -2.9% during the review period (2008–2012). The negative growth in the segment was partly due to intense competition in conventional insurance segments, resulting in low earnings. Fierce pricing competition among conventional insurers and low profit margins also led to declines in reinsurance premium rates, which subsequently discouraged reinsurance business in Taiwan during the review period. However, Taiwanese insurers are looking to grow beyond Taiwan; positive economic development and government policy reforms, including the establishment of trade services with Mainland China, will support the Taiwanese reinsurance segment over the forecast period (2012–2017).

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