The Taiwanese insurance industry performed brilliantly last year, with total premium income of NT$3,576.9 billion (US$122.8 billion), a record high, according to Mr Hsien-Nung Kuei, Chairman of the Taiwan Insurance Institute (TII).
The figure exceeds a forecast last year that the insurance sector would see total premiums of NT$3,000 billion for the year. The NT$3,576.9-billion actual premiums represent an increase of 9.1% over 2016.
Of the total last year, life premiums amounted to NT$3,420 billion representing an increase of 9.2% over 2016, while non-life premiums grew by 7.4% to reach NT$156.7 billion.
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