, Taiwan

Taiwan general insurance industry pre-tax profits plummet by 484.4% in June

The life insurance industry's pre-tax profit drop however slowed down to 17.3%.

Taiwan’s general insurance industry reported a pre-tax profit loss of a whopping 484.4% to $1.57 YoY in June, according to the monthly statistics of the Financial Supervisory Commission.

The country’s life insurance industry, meanwhile, slowdown its drop from 23.6% in May to 17.3% in June, a $7.14b in pre-tax profit.

READ MORE: Increase in profits still too slow for Taiwan’s insurance industry

Owners' equity of insurance enterprises at the end of June 2022 was $45b, with owners' equity of life insurance enterprises at $42b, going down 52.3% compared to last year. Meanwhile, owners' equity of non-life insurance enterprises was $3.43b, going down by 32.2%.

This has been the third month, starting in April, that Taiwan’s insurance industry suffered profit losses compared to a year ago.
 

Follow the link for more news on

Join Insurance Asia community
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!

Exclusives

Income-Allianz failed merger shows popular opinion is king
The deal faced backlash from Singaporeans who thought it betrayed Income’s social mission.
Filipino gamers hold promise for FWD
The insurer plans to support other games and aspects of the gaming ecosystem beyond esports.