Taiwan insurers' earnings quadruple to NT$229.7b in June

Both life and non-life industries saw triple-digit growth.

The earnings of Taiwan’s insurers grew four times (313.12%) the amount of last year in end-June to NT$229.7b, thanks to similarly triple-digit growth seen in both life and non-life industries.

Life insurance enterprises contributed NT$214.5b to this total, marking an increase of NT$162.5b (or 312.5%) compared to the previous year, data from the Insurance Bureau showed.

Non-life insurance enterprises saw a pre-tax profit of NT$15.2b, up NT$11.6b (or 322.2%) as of June.

Owners' equity for insurance enterprises reached NT$2,781.6b. Of this, life insurance enterprises accounted for NT$2,637.8b, up 28.7% year-over-year (YoY). Non-life insurance enterprises reported owners' equity of NT$143.8b, climbing 23.6% YoY.

As of June, the NT Dollar had depreciated by 5.29% against the US Dollar since the end of 2023. Life insurance enterprises had a cumulative foreign exchange valuation reserve of NT$189.9b, an increase of NT$97.9b.

However, the combined impact of exchange gains/losses, hedging gains/losses, and volatility on this reserve was NT$-112.3b.

Despite this, overseas investments by life insurers yielded net gains of NT$520.2b, excluding the net effect of volatility on the foreign exchange valuation reserve.

Also Read

Global insurance M&A hits 15-year low in volume

Reinsurers hit record $695b capital in June 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit