本研究透過研究日本市場併購前例，以及我國近10年來之併購個案，衡酌當前產險業之經營現況，探討我國產險市場未來走向與日本市場同樣出現併購情形之必然性，同時探討產險公司併購後之綜效，以及非屬金控與外商集團之獨立公司未來存在之空間與經營之方向，俾供主管機關與保險業者對於我國產險業未來走向之參考。 Japan is the second largest market of insurance in the world. In the long term, the Government of Japan implemented protection policy in the financial industry and strictly limited the competition; therefore, the insurance industry maintained the stable growth under the law, specification and tacit agreement of the same business. In response to external environmental changes in 1996, the Government began of financial deregulation. Against the keen competition of price, the industry made every effort to survive by Business Integration or Strategic Alliances, but the whole performance did not improve, so considering further reducing costs and the pursuit of economies of scale, the case of M&A and reorganization began to emerge, and it has been ongoing until now. M&A, which is a financial activity including two approaches of the ‘merger’ and ‘acquisition’ achieve the purpose of combination of enterprises. M&A derived from United States and it has developed more than a century so far. Originally the purpose of M&A was in order to expand its scale of organization or operating capacity and to pursue the external growth. Therefore, it emerged not only in the peacetime of the prosperous growth but also in the time of drastic change of environment where the enterprise wanted to survive. The behavior of M&A in the property insurance industry in Japan was clearly the latter case. There are too much same businesses to cause the problem of limited scale in the insurance industry in Taiwan. The premium incomes have begun to decrease steadily since achieving the peak in 2005. The competition was keener and keener after the liberalization of rate at the third stage in 2009, which is quite similar to the situation in Japan. This study researched the previous case of M&A in Japanese insurance market and the case of recent 10 years in Taiwan. Considering the current situation of property insurance industry, this research discussed the future trend of our property insurance market and our situation of M&A which also similarly emerged in Japanese insurance market inevitably; meanwhile, it discussed the synergies after M&A of property insurance companies and the future existing space and operating trend of the independent companies which were not belong to financial holding group and foreign insurance group. The future trend of our property insurance industry is to be the reference for the competent authority and the insurance industry.
