, Taiwan
4 views

Good underwriting, investments boost Taiwan's Shinkong Insurance in 2020

Its capital and surplus have grown 43% over the past five years.

Taiwan’s Shinkong Insurance maintained smooth-sailing operating results in 2020, anchored by positive underwriting and investment results, according to an AM Best report.

The insurer’s risk-adjusted capitalisation remained at the strongest level in 2020. In the past five years, its capital and surplus has grown organically by 43%, mainly through profit retention and accumulation of special reserves. Investment strategy is still conservative with a majority of the invested assets in low risk fixed-income assets.

The company’s dependency on reinsurance remains moderate, with the reinsurers panel in good credit quality.

Shinkong is still the country’s third-largest non-life insurer in terms of gross written premiums, recording a net combined ratio of almost 90% over the past few years. Its underwriting portfolio remains diverse, having refined it in 2020 through faster expansion in non-motor product lines.

A partially offsetting factor is the downward trend in the insurer’s compulsory auto liability insurance special reserves over the past few years. Going forward, potential unfavourable underwriting experience in this line of business will directly affect operating performance.

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!

Get Insurance Asia in your inbox

Aussie PM frets about sustainability of disability insurance scheme

The growth in payment per participant was due to inconsistent information, he said.

China Taiping Insurance maintains stability amidst pandemic: report

But ROE and ROA were lower in 2020 compared to 2019.

Singapore health ministry to consider fully portable Integrated Shield Plans

But doing so can result in higher premiums.

Pivoting to Digital: How the insurance sector is moving with tech

Making bolder moves on digital will be needed to attract a bigger part of the market.

Singapore life insurers post 29% jump in Q1 2021 weighted new premiums

Single-premium products grew 85% QoQ in weighted premiums.

Luxury import cars drive South Korean non-life premiums in 2020

Top general insurers had  $16.82b in premiums through credit cards in 2020.

Indian insurers at the cusp of transformation: retired IRDAI chairman

India's IT capabilities will accentuate the further growth of the sector.

Indian general insurers likely to hit $36.4b in 2025

The sector has a CAGR of 8.7% over FY2019-2024.

HSBC Life, dacadoo partner to promote better health amongst users

The insurer will integrate dacadoo into its health platforms.

Philippine insurers' 2020 net income slips 8.6% to $859m

Premium income only crept up 1.18% YoY.