All markets in advanced Asia reported non-life premium growth increases in 2019, according to Swiss Re Institute.
Over the past decade, foreign companies have withdrawn from Taiwan's insurance market one by one.
The Central Weather Bureau expects the usual three to five typhoons to hit Taiwan this summer, but the warning time will be shorter because the typhoons are expected to originate closer to the island.
Taiwanese insurance customers with policies from multiple insurers can now update their personal information or file claims by applying through just one of their insurance companies, thanks to blockchain technology.
As a result of the COVID-19 pandemic, Taiwan's general insurance industry is expected to contract by 1.7% in 2020 for the first time since the global financial crisis - revealed data and analytics firm GlobalData.
Taiwan's population is on track to experience negative growth for the first time this year, as the government recorded a decline of 16,559 people in the first five months, Ministry of the Interior statistics show.
Shin Kong Financial Holding Co's board of directors have approved its insurance unit's proposal to use fair-value accounting rather than cost accounting to assess non-self-use properties.
Insurers are offering to reduce interest rates charged to policyholders on insurance policy borrowings, according to a statement by the Insurance Bureau of the Financial Supervisory Commission (FSC).
Dr Thomas Huang, who has assumed the post of Chairman of the Financial Supervisory Commission (FSC) in Taiwan, cited six areas in which new guidance would be provided by the FSC by the end of August.