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).
More than 50 regulations will be relaxed within two years, as part of a government plan transform Taiwan into Asia's asset management centre, according to the chairman of the Financial Supervisory Commission (FSC), Mr Peng Jin-long.
The Financial Supervisory Commission (FSC) has announced that as of 15 October 2024, two life insurance companies have applied to adopt the new foreign exchange rate volatility reserve system.
Two major insurance companies in Taiwan are eyeing investments in the renewable energy sector.
Taiwanese reinsurer Central Reinsurance Corp's (Central Re) satisfactory underwriting performance is expected to continue throughout 2024, driven by profitable core business with a heavier exposure to retail clients, says S&P Global Ratings (S&P).
Taiwan life insurers will continue to strengthen their capital position in response to the implementation of Taiwan-localised Insurance Capital Standard (TW-ICS) and IFRS 17 in 2026, by refining their business mix, optimising investment strategies, and issuing capital-qualifying bonds, alongside the regulator's various transition measures, says Fitch Ratings.
Shareholders of Shin Kong Financial Holding and Taishin Financial Holding have voted to merge their two groups, that would create Taiwan's fourth-biggest financial services group.
The Financial Supervisory Commission (FSC) has loosened regulations to allow natural persons connected to insurance companies to purchase long-term corporate bonds with a maturity of more than 10 years issued by the insurers to which they are related.
Taiwan Life Insurance has become the island's first insurance company to venture into the health-resort and healthcare sector.
Hotai Insurance returned to profit by closing 2023 with a full-year net profit of NT$3.7bn ($115.8m), partially contributed by the release of reserve related to COVID-19 pandemic insurance claims, notes AM Best. The insurer reported a significant net loss of NT$36.9bn in 2022, predominantly attributed to pandemic-related claims.