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).
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.