Cathay Century Insurance's voluntary motor insurance branch, a major business line for the insurer, has contributed to an improving underwriting margin supported by better pricing and the insurer's ongoing efforts to refine the risk quality and product composition, says AM Best.
AM Best expects that the gradual improvement in Hotai Insurance's risk-adjusted capitalisation over the short to intermediate term may support a stronger balance sheet strength assessment, while the company returns and maintains its operating profitability level to a pre-pandemic level.
The Financial Supervisory Commission (FSC) has voiced concern over the health of three domestic life insurers after they released their financial statements for the first six months.
Cathay Financial Holding Co, Taiwan's biggest financial services provider, is looking at flat business in the second half of this year, as it seeks to focus on risk controls amid lingering economic uncertainty.
Fitch Ratings has assigned Taiwan-based Shin Kong Life Insurance (SK Life) a National Insurer Financial Strength (IFS) Rating of 'A(twn)' and National Long-Term Rating of 'A-(twn)'. The outlook is 'Stable'.
Nan Shan Life Insurance's financial performance is regarded as strong as its return on equity averaged 9% from 2020 to 2022, says Fitch Ratings.
The premium decline in Taiwan's life industry is expected to moderate in the coming 12-18 months due to an already-low base, says Fitch Ratings.
Taiwanese financial institutions' risks of exposure to mainland China are controllable, despite growing debt woes in the world's second-largest economy, the Financial Supervisory Commission (FSC) has said.
The underwriting performance of Central Reinsurance Corporation's (Central Re) domestic non-life portfolio deteriorated in 2022, mainly driven by a significant COVID-19 pandemic insurance loss, while its domestic life business continued to deliver a solid stream of earnings, says AM Best.
Taiwan's financial regulator is asking life insurance companies to urgently report on their current positions and assess risks stemming from growing turmoil in China's financial markets, reported Bloomberg quoting people familiar with the matter.