, Taiwan
/Lisanto from Unsplash

Taiwan insurers post $9.47b pre-tax profit in August

Its non-life insurance segment witnessed a twofold increase.

Taiwan’s insurance enterprises recorded a pre-tax profit of $9.47b (NT$305.4b) end-August. 

Life insurance enterprises contributed $8.86b (NT$285.7b), a significant increase of $4.23b (NT$136.4b), or 91.4%, compared to the previous year. 

Meanwhile, non-life insurance enterprises reported a pre-tax profit of $0.61b (NT$19.7b), marking a twofold increase (105.2%), or $0.31b (NT$10.1b).

Owners' equity in the insurance sector stood at $87.56b (NT$2,824.5b) by the end of August 2024. 

Life insurers accounted for $83.00b (NT$2,677.3b), reflecting a 28.1% rise, or $18.23b (NT$588b), year-on-year. Non-life insurers saw their owners' equity grow by 21.8%, or $0.82b (NT$26.3b), reaching $4.56b (NT$147.2b).

During this period, the NT Dollar depreciated by 3.77% against the US Dollar since the end of 2023. 

The cumulative balance of the foreign exchange valuation reserve for life insurance companies increased by $2.56b (NT$82.7b), reaching $5.42b (NT$174.7b). 

Despite this, the combined effect of exchange rate fluctuations and hedging activities resulted in a net foreign exchange impact of $-5.57b (NT$-179.6b) for life insurers. 

Nevertheless, their overseas investments yielded net gains of $18.85b (NT$608.2b), excluding the net effect of volatility on the foreign exchange reserve.

($1.00 = NT$32.16)

Follow the link s 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!