Taiwan’s insurance-linked product market’s assets under management reached a record US$42.45 billion in the first three months of 2022 following nine consecutive quarterly gains since the first quarter of 2020.
Results among market players were mixed, with some gaining market share and others losing, according to data compiled by Keystone Intelligence.
BNP Paribas Life saw the largest percentage increase in assets in the first quarter, up 18.94% or $521 million. At the other end of the scale, Taiwan Life suffered the biggest percentage loss of 6.94%, or $251 million.
The top players by assets under management were Cathay Life with a 45.7% market share, though its assets shrank 4.4% or $887 million. Fubon Life was a distant second with a 9.9% market share.
BNP Paribas Life’s big asset jump earned it fourth spot with a market share of 7.7%, just behind the 7.9% share of third-placed Taiwan Life.
In terms of delegated asset managers, the largest participant was Cathay Securities Investment Trust Enterprise or SITE, with 22.1% market share, followed by AllianceBernstein SITE with 16.4% and JPMorgan SITE, 8.5%.
There were seven new insurance-linked product mandates in the first quarter, with a combined $824 million of assets. BlackRock SITE was the biggest winner, securing two new mandates totaling $592 million.
*Donna Chen is with Taipei-based investment consulting firm Keystone Intelligence.
