TAIWAN – Non-life insurers??? premium soar high

Premium growth of natural disaster insurance and auto-insurance policies boosted Taiwan’s non-life insurers to score NTD 82 billion (USD 2.73 billion) in written premium revenues in the first eight months, up 7.2 percent year-on-year, which is much better than Non-life Insurance Association of the R.O.C (NLIA’s) prediction of 3.2 percent, with an expected annual growth of over 5 percent to NTD 118.5 billion (USD 3.95 billion).

 

T.H. Chen, general manager of Fubon Insurance, pointed out that the remarkable premium revenues this year is mainly from natural disaster insurance and auto-insurance policies. However, as the premium growth effect of natural disaster insurance will end in the fourth quarter, along with dull economy outlook, growth of premium revenues is expected to slow down gradually.