News eDaily15 Aug 2017

Taiwan:July's profits for six major insurers exceed Jan-Jun gains

| 15 Aug 2017

The after-tax profits of six of Taiwan's biggest life insurers for July have exceeded their after-tax gains chalked up for the whole of the first half of the year.

The six life insurers are Cathay Life, Fubon Life, Nan Shan Life, Shin Kong Life, China Life and Taiwan Life. They reported combined after-tax profits of NT$38.26 billion (US$1.26 billion) for July alone, higher than the NT$34.79 billion reached for the whole of the first six months of this year, reported Commercial Times.

The third quarter of the year is usually the peak period for the receipt of dividend income. In June and July, the six insurers collected more than NT$48 billion in dividends from investments at home and overseas. They expect to receive at least another NT$20 billion in August and September.

For the first seven months of the year, the six insurers reported after-tax gains of around NT$73 billion. Cathay Life led the pack with NT$24.6 billion followed by Fubon Life with NT$21.2 billion, and Nan Shan Life with NT$9 billion.

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