Key Figures
Taiwan Insurance Market
Non-Life Insurance
Life Insurance


 
Market Players and Premium Income
  According to statistics released by Taiwan Insurance Institute at the end of 2006, there were 55 insurance companies in Taiwan of which 30 were life insurance companies and 25 were non-life insurance companies. Out of the 30 life insurance companies, 22 were local companies while 8 were branches of foreign companies. The 25 non-life insurance companies included 17 local companies and 8 foreign ones.
 
Numbers of Insurance Companies in Taiwan Over the Past Five Years
Year
Non-Life insurers
Life insurers
Total
Local Insurers
Foreign Insurers
Local Insurers
Foreign Insurers
2002
17
8
20
10
55
2003
17
8
21
8
54
2004
17
9
21
8
55
2005
16
9
21
9
55
2006
17
8
22
8
55
Data source ĄG Taiwan Insurance Institute

 

The total premium income of the domestic insurance industry during 2006 was over NT$1,677,527 million, an increase of 6.43%. Non-life insurance premium income accounted for more than NT$114,106 million, a decline of 3.71% compared to the previous year. And while life insurance premium income was over NT$1,563,421 million, a rise of 7.26% from 2005, growth was moderate.

 
Premium Income Over the Past Five Years In NT$ million
Year
Non-Life Insurance Life Insurance Grand Total
Premium Income Growth
Rate %
Premium Income Growth
Rate %
Premium Income Growth
Rate %
2002

101,433

11.67 889,287
22.01
990,720
20.86
2003
109,469 7.92 1132,652
27.37
1,242,121
25.38
2004
115,468 5.48 1,308,486
15.52
1,423,954
14.64
2005
118,502 2.63 1,457,632
11.40
1,576,133
10.69
2006
114,106 (3.71) 1,563,421
7.26
1,677,527
6.43
Source: Taiwan Insurance Institute