Life insurers in Taiwan experienced contrasting results in the first quarter of 2025 across two growing segments—spillover-effect and in-kind benefit insurance products—according to the Financial Supervisory Commission (FSC).
Sales of spillover-effect insurance products declined 18% year-on-year (YoY) in terms of volume, with 253,136 new contracts sold compared to 310,232 in the same period last year. However, first-year premium income more than doubled, reaching $365.99 million (NT$11.09 billion), a 110% YoY increase from $174.39 million (NT$5.28 billion). As of Q1 2025, 251 such products from 15 life insurers have been approved or registered by the FSC.
In contrast, in-kind benefit insurance products saw a 58% YoY increase in contract volume, rising to 123,515. Despite this growth, premium income fell sharply by 62%, dropping from $25.38 million (NT$769.02 million) to $9.59 million (NT$290.85 million). A total of 50 in-kind products from seven life insurers had been registered or approved by the end of the quarter.
The diverging performance highlights shifting consumer preferences and pricing dynamics in Taiwan’s evolving life insurance market.
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