A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS Insurance Industry Records Major Gains in First Half The pre-tax profit of Taiwan’s life insurance industry in the first half of 2021 reached NT$259.2 billion, a 155.9% increase from the same period last year, according to statistics released…
Companies with appropriate business models have continued to be viable. Most of the leading international companies that were once active in Taiwan’s life insurance industry have long since exited the market. The list includes Aegon, Aetna, ING, Manulife, MetLife, New York Life, and Winterthur. Now it appears likely that one of the few remaining major…
Companies are trying to figure out how best to respond to new and unique challenges, while staying vigilant about the unexpected. As the COVID-19 pandemic continues to spread, wreaking havoc on economies throughout the world, companies are struggling to come up with ways to keep business operational, as well as employees and clientele safe. Taiwan,…
Cigna Taiwan General Manager and CEO Tim Shields doesn’t mind making mistakes and encourages his team members to make them, too, as long as they can turn those mistakes into learning experiences. A native of Edinburgh, Scotland, Tim has been working in insurance for almost three decades, the vast majority of that time spent in management roles internationally. Taiwan is…
During his career of more than two decades at Prudential, Dylan Tyson has racked up a number of significant achievements. He was presented with the opportunity four years ago to be transferred to Korea and then Taiwan, and brought his family along for the experience. Dylan is now wrapping up his assignment as President and…
Prudential of Taiwan is offering a Financial Wellness program that helps companies’ employees better prepare for the future and become financially secure. How long will you live? What kind of health condition are you likely to experience? What kind of lifestyle do you hope to enjoy in your “Golden Years”? How much money will you…
Several of the candidates for the Democratic nomination for U.S. president are advocating a government-run plan to provide health-insurance coverage to all Americans, sometimes referred to “Medicare for All.” As a single-payer healthcare system, this type of plan is similar to Taiwan’s National Health Insurance (NHI). Could the Taiwan experience serve as a practical reference…
For the time being, Taiwan’s highly popular universal healthcare program is still solvent. But due to rising costs and a rapidly aging population, the system may run out of funds within two years unless increased premiums and other reforms are put in place. Taiwan’s National Health Insurance (NHI) system is currently living beyond its means….
In the insurance section of the 2018 Taiwan White Paper recently released by the American Chamber of Commerce in Taipei, the Insurance Committee offers a long-term roadmap to improving the insurance market in Taiwan and allowing citizens to take a more holistic view of their insurance protection needs. The insurance penetration ratio of Taiwan, or the…
The Taiwan government is encouraging the country’s insurance companies to tap into their NT$23 trillion (US$767 billion) in insurance funds to help support national infrastructure and development projects. At the top of the list is the green energy portion of the government’s “5+2” key innovative industry program. With the ruling Democratic Progressive Party (DPP) committed…
