Taiwan life insurance set for 5% to 10% growth in 2025

The TII also estimates a renewal premium growth rate of approximately 5%.

The Taiwan Insurance Institute (TII) forecasts a 5% to 10% increase in first-year premium income for Taiwan’s life insurance market in 2025. 

This growth is attributed to anticipated US interest rate cuts, which are expected to boost sales of participating life insurance plans and increase demand for variable life insurance following the lifting of restrictions on investment-type products, according to Central News Agency. 

The TII also estimates a renewal premium growth rate of approximately 5% in 2025.

Based on these projections, total premium income is expected to rise by 7% under favourable market conditions and potentially decline by 2% under a more conservative scenario. 

TII Chairman Dr. Huang Hong-Chih noted that first-year premium income for the industry increased by over 13% in the first three quarters of 2024.