The Life Insurance Associationof of The Republic of China

    2004 Life Insurance Business in Taiwan

(1)Population
　According to the household registration data, the total population of Taiwan
　 at the end of 2004 amounted to 22.69 million. The crude death rate and the
　crude birth rate stood at 0.60% and 0.96% respectively.

　The population pyramid at the end of 2004 showed that : Aged population
　(65 years and over) accounted for 9.48%, childhood population (under 15 years)
　 19.34% and the productive age (15-64 years) 71.19%. The dependency ratio was
　40 and the sex ratio was 104.

(2)National Income
　In 2004 the national income amounted to US$279.46 billion in market prices
　or US$277.40 billion in real terms and per capita income reached US$12,381
　in market price.

　The average size per household in 2003 was 3.53 persons, among which 2.60
　persons were adults and 0.93 persons were minors. Average available income
　per household reached US$26,381 and average savings per household was
　US$5,898. The average propensity to saving was 24.42%.

(3)Type of Insurance
　In accordance with the article 13 of Insurance Laws, personal insurance covers
　life, accident, health and annuity insurance. The authority promulgated the
　relative regulation of individual annuity on July 1997.At present, the annuity
　is mainly focused on the immediate and defer annuity products.

(4)Business Results
　In 2004, the total premium income amounted to US$39.2 billion, up 15.52% over
　the preceding year. People spent about 21.32% of their disposable income in 2004
　for personal insurance. Of the total premium income, the share of life insurance
　 was 73.0%, accident 4.4%, health 10.7%,and annuity 11.8%

　G.R:Growth Rate

　　　Exchange Rates: 2003:US$1=NT$34.42

                                       2004:US$1=NT$33.42

At year-end of 2004, total life insurance in force registered 33,635 thousand
policyholders. This figure compared with the total population, there were 1,663
persons having individual life policy or covered by group life insurance per
1,000 persons. The ratio of life insurance inforce to national income was 310%.

For the year 2004, benefit payments to policyholders totaled NT$480,584 million
or US$14,380 million. This amount increased by 23.15% over previous year. During
the year 2004, the total number of death payments was 77,398 cases, accounting
for 57.29% of total number of death in Taiwan area, with a sum of NT$51,425
million. The average amount of death payments to beneficiaries was NT$664,423
or US$19,881

＊Others includes Surrender, Maternity, Funeral Allowance, Survivor Benefit etc.

Assets of the industry in 2004 had attained NT$5,501,020 million or US$164,603
million. The major items of total assets showed that: Securities accounted for
65.78%, Mortgages 8.89%, Investments 4.19%, Policy Loan 7.80%. At the end
of 2004, policy reserves of the industry amounted to NT$4,864,465 million or
US$145,555 million, accounting for 88.43% of the total assets or 92.60% of the
total liabilities. The total receipts of the industry were NT$2,019,378million or
US$60,424 million and the total expenditures were NT$2,000,498 million or
US$59,859 million.

| About LIA-ROC | Board of Directors | Publications | Member companies | 2004 Life Insurance Business |
| Newsletter | Selected Life Ins. Web Sites |

  Return to LIA-ROC main page