Market Size of Taiwan Motor Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Taiwan Motor Insurance Market Analysis
The insurance industry has not escaped its COVID impact, but insurers have responded quickly to the crisis. As the broader economy recovers and responds to the pandemic, insurers will face several challenges but also see many new opportunities in the medium to long term.
Motor insurance, which accounts for 53.7% share in terms of GWP, grew by 7.0% in 2020 in Taiwan. An increase in premium prices and strong growth in vehicle sales helped its growth. However, the short-term outlook for motor insurance remains negative due to the Taiwan shortage of semiconductors.
