Taiwan life insurance profits climbs by 88.5% to $13.97b

Insurance industry’s profit for 2021 reached $14.78b

Taiwan’s life insurance industry’s pre-tax profit skyrocketed to NT$388.5b ($13.97b), an increase of 88.5% in 2021.

Non-life pre-tax profit reached NT$22.6b ($810m), an increase of 32.9% compared to 2020 numbers.

Meanwhile, owners' equity of insurance enterprises at the end of 2021 was $100b. Owners' equity of life insurance enterprises reached $97b, going up by 8.1% compared to last year, whilst owners' equity of non-life insurance enterprises was $5.75b, increasing by 11.2%.

The insurance industry’s pre-tax profits for 2021 reached a total of $14.78b.