Taiwan Life Insurance, among the top 10 life insurers in Taiwan, is expected to turn profitable after the insurer posted a return on equity (ROE) of -3% in 2022, against a three-year average of 8%, notes Fitch Ratings.
The end of the COVID-19 pandemic has seen a boom in tourism that in turn drove growth of online travel insurance sales in the first quarter of this year in both the life and P&C insurance branches.
Capital increases are expected to become the priority of Taiwan's insurance industry this year, for both non-life and life businesses.
The Financial Supervisory Commission (FSC) is allowing insurance companies to issue corporate bonds with a duration of more than 10 years.
Allianz Asia Pacific (AZAP) is partnering INSEAD, one of the world's leading business schools, to create a training and certification programme aimed at transforming and upskilling the organisation's life and health business agency salesforce.
Taiwan's insurance industry reported a combined pre-tax loss of NT$29.5bn ($959m) for the first quarter of this year, according to data from the Financial Supervisory Commission (FSC). In contrast, the industry showed a pre-tax profit of NT$135.6bn in the corresponding quarter in 2022.
Shinkong Insurance, Taiwan's third-biggest general insurer, continued to deliver positive underwriting results in 2022, supported by moderate top-line growth and stable operating expenses, notes AM Best.
The Financial Supervisory Commission (FSC) has ordered four non-life insurance companies to raise new capital by the end of June after their capital solvency conditions worsened due to massive COVID-19 insurance policy payments.
The Financial Supervisory Commission (FSC) has announced that it has postponed the review of an application by CTBC Internet Property Insurance for an online insurance licence. CTBC is the first insurer in Taiwan to file such an application.
The insurance sector in Taiwan has the highest exposure to Credit Suisse at NT$108.2bn ($3.6bn) as of the end of January 2023, according to data from the Financial Supervisory Commission (FSC).