Taiwan’s insurance premiums rise 8% as claims outpace non-life growth in 2025

Non-life payouts climb faster than premiums, signalling pressure on underwriting margins.

Taiwan’s insurance sector total premium income reached $93.1b (NT$2.91t) in 2025, up 7.35% year-on-year (YoY).

Life insurance continued to dominate the market, contributing $83.8b (NT$2.62t), whilst non-life insurance accounted for $9.2b (NT$286.8b), according to data released by the Financial Supervisory Commission’s Insurance Bureau.

Non-life insurance premiums grew 5.67% YoY to $9.2b (NT$286.8b). Motor insurance remained the largest segment, generating $4.5b (NT$139.4b), followed by accident insurance at $2.9b (NT$89.5b). Claims in the non-life segment rose 8.10% YoY to $4.0b (NT$125.8b) for the year.

Life insurance premiums increased 7.53% YoY to $83.8b (NT$2.62t). Individual life policies made up the largest share at $57.0b (NT$1.78t), followed by health insurance at $14.7b (NT$459.2b) and annuities at $9.0b (NT$282.3b).

The industry’s total assets reached $1.2t (NT$38.27t) in 2025, compared with $1.2t (NT$37.43t) in 2024. Insurance assets accounted for 32.91% of total financial sector assets, slightly lower than 33.34% a year earlier.

Overall, the insurance sector reported stable profitability. Non-life insurers posted net income of $1.0b (NT$31.1b), whilst life insurers recorded $5.8b (NT$180.8b) in net income.

Insurance penetration, measured as premiums as a share of GDP, stood at 10.14% YoY in 2025, down slightly from 10.54% YoY in 2024. Insurance density, or per capita premium spending, rose to $3,997.8 (NT$124,931).

The number of insurance companies remained stable at 51, with 3 reinsurers and 20 offshore insurance units.

The industry employed about 400,908 people in 2024, with a slight decline in recent years.

($1.00 = NT$31.53)