Central Re

The slow-down in Taiwan's primary market resulted in a 2% fall in premium volume for the national reinsurer

Central Re

Premium growth for Taiwan's non-life insurance market continued to slow down in 2004. Direct written premiums for the sector grew by 5.5% last year to NT$115.5bn (US$3.6bn). This compared with a growth rate of 8% in the previous year and 11.5% in 2002. The reduced level of growth in 2004 was partly due to the impact of price competition on the fire insurance market, which accounted for about 19% of the country's non-life sector and experienced a 9% fall in premium income last year.