Cathay Life Insurance, the largest insurer in Taiwan, is preparing for IFRS 17 and TW ICS implementation in 2026, says CreditSights, a credit research unit of the Fitch Group.
With effect from 30 November 2024, all mini electric bikes or scooters should be covered by compulsory automobile third-party liability insurance, and must be registered, and display the licence plate.
Nan Shan Life Insurance will maintain its improved capital and earnings over the next two years, supported by its prudent business growth and investment strategy, says S&P Global Ratings (S&P).
CTBC Insurance Company continues to make efforts to improve technical results by underwriting initiatives through refined risk selection and controlled risk appetite, says AM Best.
Nan Shan Life Insurance's gradual shift from traditional savings-type products and single-premium policies to long-term regularly paid policies and protection products contributed to the growth in the value of the new business margin over the past five years, says Fitch Ratings.
Looking ahead to 2025, the General Accounting Office and the Central Bank expect that the economy is expected to maintain moderate growth, which should continue to provide a favourable operating environment for the insurance industry, says KPMG in its newly released "2024 Taiwan Insurance Industry Report".
The Financial Supervisory Commission (FSC) has proposed relaxing restrictions on discretionary investment arrangements by insurance companies to invest in interested parties.
Life insurers in Taiwan have shifted their focus towards sales of protection-type products and continued to strengthen their capitalisation, on the implementation of accounting standard IFRS 17 and the Taiwan-localised Insurance Capital Standard (TW-ICS) in 2026, Fitch Ratings says.
The Taiwanese retirement income system remained in the 39th position among 48 pension systems worldwide in 2024 compared to 2023, according to the Mercer CFA Institute Global Pension Index 2024.
Fubon Life Insurance's capital and earnings will likely remain satisfactory over the next two years despite sensitivity to capital market volatility, foreign exchange movements, and uncertainties over financial changes as the sector adopts new accounting norms in 2026, says S&P Global Ratings (S&P).