Fubon Insurance records net loss for first quarter 2023

Insurance premiums increased during the period.

Taiwan’s Fubon Insurance recorded a net loss of NT$4.25b (US$140m), compared with the previous year’s NT$2.95b (US$96m) profits.

If the COVID-19-related policies were not accounted for, profits would have reached NT$970m (US$31,660).

ALSO READ: Pandemic claim losses won’t drag down Fubon Insurance’s strong profitability: Moody’s

On the other hand, insurance premiums saw a rise of 10.2% YoY, with a market share of 25.7% as a market leader.

Direct written premiums and retention of earned premiums went up 9.5% (NT$16.55b = US$540m) and 2.2% (NT$11.10b = US$360m), accordingly.

(NT$1.00 = US$0.033)

Also Read

Insurers may cover only 25% to 33% of disaster damages by 2030

Mitsui Sumitomo to invest $4b for 15% stake in W. R. Berkley

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