Taiwanese life insurers reported a combined foreign-exchange loss of NT$205.9bn ($7.2bn) on their overseas investments in the first eight months of this year, according to the Financial Supervisory Commission which released such data earlier this month.
The Ministry of Health and Welfare statistics show that Taiwan's National Health Insurance (NHI) system is expected to face a deficit of NT$77.1bn ($2.66bn) in 2021, with reserve funds adequate to cover only one month of expenses.
The National Health Insurance (NHI) system is expected to face a deficit of NT$77.1bn ($2.66bn) next year, with reserve funds adequate to cover only one month of expenses, Ministry of Health and Welfare statistics show.
Entities hailing from both the public and private sectors have formed an alliance to support the rise of weather-related businesses in Taiwan.
Taiwan has proposed a hike in the premium for its National Health Insurance scheme (NHI) to maintain its sustainability, quality and fairness.
The Financial Supervisory Commission (FSC) will soon announce some draft amendments to the "Insurance Broker Management Rules" and "Insurance Agency Management Rules", according to a statement from the Insurance Bureau of the commission.
Laws and regulations will be gradually loosened, including restrictions on investment in public construction by the insurance industry, said Mr Huang Tien-Mu, chairman of the Financial Supervisory Commission (FSC).
The non-life insurance market in Taiwan has been expanding over the last few years at mid to high single-digit rates, notes AM Best.
Taiwan's insurance industry may over the next few years face a period in which "challenges and opportunities coexist, while difficulties and expectations clash", according to the 2020 Taiwan Insurance Report released yesterday by KPMG in Taiwan.