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| Market Players and Premium Income |
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According to statistics released by the Taiwan Insurance Institute at the end of 2010, there were 54 insurance companies in Taiwan of which 31 were life insurance companies and 23 were non-life insurance companies. Out of the 31 life insurance companies, 23 were local companies while 8 were branches of foreign companies. The 23 non-life insurance companies include 17 local and 6 foreign companies. |
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| Numbers of Insurance Companies in Taiwan Over the Past Five Years |
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| Year |
Non-Life insurers |
Life insurers |
Total |
| Local Insurers |
Foreign Insurers |
Local Insurers |
Foreign Insurers |
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2006 |
17 |
8 |
22 |
8 |
55 |
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2007 |
17 |
7 |
22 |
9 |
55 |
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2008 |
17 |
8 |
23 |
9 |
57 |
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2009 |
17 |
6 |
22 |
9 |
54 |
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2010 |
17 |
6 |
23 |
8 |
54 |
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| Source ĄG Taiwan Insurance Institute |
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The total premium income of the domestic insurance industry during 2010 was NT$2,418,656 million, an increase of 14.71% over the previous year. Non-life insurance premium income accounted for NT$105,806 million, a rise of 3.87% over the previous year. Total life insurance premium income was NT$2,312,850 million, a rise of 15.26% over 2009.
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| Premium Income Over the Past Five Years |
NT$ millions |
Year |
Non-Life Insurance |
Life Insurance |
Grand Total |
| Premium Income |
Growth
Rate % |
Premium Income |
Growth
Rate % |
Premium Income |
Growth
Rate % |
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2006 |
114,106 |
(3.71) |
1,563,701 |
7.27 |
1,677,807 |
6.44 |
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2007 |
112,583 |
(1.33) |
1,875,097 |
19.91 |
1,987,680 |
18.47 |
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2008 |
107,741 |
(4.30) |
1,918.843 |
2.33 |
2,026,584 |
1.96 |
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2009 |
101,859 |
(5.46) |
2,006,559 |
4.57 |
2,108,418 |
4.04 |
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2010 |
105,806 |
3.87 |
2,312,850 |
15.26 |
2,418,656 |
14.71 |
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| Source: Taiwan Insurance Institute |
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| COPYRIGHT 2005 CENTRAL REINSURANCE CORPORATION. ALL RIGHTS RESERVED. |
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