Taiwan suffers sixth-month loss in the non-life insurance industry

Non-life insurers suffered a 681.1% loss in September compared to a year before.

Taiwan’s non-life insurance industry suffered a 681.1% year-on-year pre-tax profit loss amounting to $4.01b (NT$129.4b) in September, a report by the Financial Supervisory Commission said.

This is the sixth month of recorded losses for non-life insurers. The pre-tax profit of life insurers also dropped by 17.3% or by $1.93b in the same month.

The pre-tax profit of insurance enterprises at the end of September 2022 was $5.81b

Meanwhile, owners' equity of insurance enterprises at the end of September 2022 was $28.09b. Owners' equity of life insurance enterprises was $25.71b, which is 67.6% lower than last year. Owners' equity of non-life insurance enterprises reached $2.38b which was a 49.8% decrease from last year.

In August, Taiwan’s non-life insurance industry recorded a pre-tax profit decrease of 537.1%, a total loss of $2.40b.