Although Minister of Culture Hung Meng-chi tendered his resignation following allegations that the ministry had considered giving “subsidies” to KMT legislators to influence their votes, Premier Mao Chi-kuo asked him to stay on – and ultimately Deputy Minister Vicki Yu-yun Chiu took the fall. According to an article released by Next Magazine on September 30,…

Speaking at an AmCham Taipei membership luncheon on October 23, Tsai Ing-wen, the Democratic Progressive Party (DPP) candidate in the upcoming presidential election, reminded attendees of the “mutual interests” and “shared values” tying the United States and Taiwan, identified the United States as Taiwan’s “most important economic partner,” and called U.S.-Taiwan relations the “cornerstone for…

The Taiwan insurance sector’s long-term sustainability – and its ability to maintain the confidence of the public whose financial welfare it serves – depends on the degree of discipline exercised by both insurers and regulators in ensuring proper risk management. That discipline has already been tested several times in recent years when domestic life insurance…

Innovation is a popular topic in Taiwan these days, recognized as an essential ingredient for this economy’s future development and prosperity. Yet in one crucial market – “non-life” insurance products aimed at protecting consumers and businesses from damage, loss, and liability – innovation has often been stifled by overly rigid regulations. Insurers are required to…

Formerly, people’s lives seemed to fit neatly into broad demographic categories: the first age of childhood, the productive years of the second age of working life, and the third age of retirement. But as an increasingly large segment of the population approaches retirement age, the question arises of whether enough resources will be available to…

Taiwan has one of the largest life insurance markets in the world, but does that mean the society is among the best protected? Unfortunately not, as both insurers and government regulators agree. In fact, according to experts, Taiwan faces numerous social challenges that are insufficiently met by the types of insurance currently in demand by…

With smartphone penetration rates exceeding 65%, Internet penetration at 80%, and a quarter of the population using at least three connected devices, Taiwan is among the most connected nations in the world. This connectivity is reflected in Taiwan’s surging e-commerce, which has grown on average at 10-20% annually for the past five years, reaching nearly…

In many respects, Taiwan is very well-positioned for smooth development of its insurance market. Among the positive basic characteristics are a well-educated and prosperous population with per capita national income last year of US$19,315. Calculated by purchasing power parity, per capita GDP comes to US$45,900. Taiwan also has a high gross national savings rate of…