Cathay Life’s Taiwan unit sees profit dip in H1 2024

However, gross revenues increased 17.6% YoY.

Cathay Life Insurance Vietnam, a subsidiary of Taiwan-based Cathay Life, reported a post-tax profit of $33.6m in the first half of 2024 (H1 2024), a 3.2% year-on-year (YoY) contraction, reported The Investor.

Group-wide, Cathay Life's net profit surged to $1.46b, compared to $0.43b in H1 2024.

Meanwhile, gross revenue for H1 2024 bagged $66.2m from its insurance business, with $67m generated from insurance premiums. These figures represent YoY increases of 17.6% and 18%, respectively.

Cathay Life paid out $11.33m in indemnities during the six-month period. It also earned $47.9m from financial activities, reflecting a 29.1% YoY.

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