Key Figures
Taiwan Insurance Market
Non-Life Insurance
Life Insurance

The Life Insurance Market

Life insurance premium income reached NT$1,563,421 million in 2006, representing 7.26% growth over the previous year. The premium breakdown by line of business was 79.59% from life insurance, 3.80% from personal accident insurance, 10.38% from health insurance and 6.23% from annuity insurance.

Premium Income of Life Insurance

In NT$ million
Line

2006

2005

Premium Income

Growth Rate %

Share %

Premium Income

Growth Rate %

Share %

Life

1,244,398

10.40

79.59

1,127,170

18.03

77.33

Personal Accident

59,373

1.51

3.80

58,491

1.04

4.01

Health

162,202

7.45

10.38

150,960

7.39

10.36

Annuity

97,449

(19.47)

6.23

121,010

(21.93)

8.30

Total

1,563,421

7.26

100.00

1,457,632

11.40

100.00

Data source: Taiwan Insurance Institute

Life and health insurance maintained high growth rates of 10.40% and 7.45% respectively, whereas personal accident insurance, following the entry of non-life insurers into this business, displayed a decline of 5.95% in 2004 and slight increases of 1.04% in 2005 and 1.51% in 2006. Because of the regulator's restriction on the upper limit of the declared interest rate, the premium income for annuity insurance declined by 21.93% in 2005 and 19.47% in 2006. As the regulator has revised the restriction of the upper limit of the declared interest rate in April 2007, the continuous decline of annuity premium is expected to cease.