Wistron Corp, a Taiwan-based contract electronics maker and part of the Apple supply chain, said yesterday that preliminary estimates of losses from a riot in its factory on 12 December in southern India were lower than the news media had reported.
Life insurers in Taiwan would find it challenging to reduce foreign exchange losses next year because of their huge overseas investment, Taiwan Insurance Institute chairman Kuei Hsien-nung has said.
Taiwan's Executive Yuan yesterday passed an amendment to the insurance law to abolish a limit on insurance companies' board representation in investee firms that are engaged in infrastructure development and community welfare business.
Taiwan is set to increase its National Health Insurance (NHI) premium rates because the national health scheme has been operating in the red and its reserve fund will be depleted next year.
Taiwanese insurance leader Fubon Insurance continued to report positive underwriting and investment results in 2019, with a five-year average return on equity of 8.5%, notes AM Best.
Up to 80% of those working as food deliverers in Taiwan worry that they will get into a traffic accident while making deliveries according to a recent survey by Democratic Progressive Party legislator Fan Yun and the Taiwan Labour Front.
CTBC Holding, a Taipei-based holding company specialising in insurance, banking, securities, venture capital, and asset management, has joined the Partnership for Carbon Accounting Financials (PCAF), becoming Taiwan's first financial institution to join the industry-led initiative.
AI can help the current underwriting process to be more accurate and efficient, according to a recent pilot project conducted by a South Korean medical AI company, Lunit, and Taiwan's Cathay Life Insurance.
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.