Central Re sees capital rise with stronger surplus in 2024

Central Re is expected to retain its market leadership.

Central Reinsurance Corporation (Central Re) is expected to maintain strong capital and steady profitability over the short to medium term, supported by prudent underwriting and conservative investments, AM Best said.

Risk-adjusted capitalisation stayed at the strongest level in 2024, with adjusted capital and surplus up 8.9% to $760m (TW$22.7b). 

Net profit rose to $83m (TW$2.5b), whilst the domestic life business continued to provide stable earnings despite weaker non-life and overseas premiums.

As Taiwan’s sole domestic reinsurer, Central Re is expected to retain its market leadership and gradually expand its overseas portfolio, which accounted for about 20% of 2024 gross premiums, whilst keeping its focus on sustainable profitability.

($1.00 = TW$30.00)