, Taiwan

Taiwan life insurance industry YoY profits drops by 25% in March

Meanwhile, non-life segment YoY profits soar by 23.6%.

Pre-tax profits of Taiwan’s life insurance industry fell by 25% to $4.36b year-on-year (YoY) in March compared to profits last year, according to statistics released by the Financial Supervisory Commission.

This follows a 21.2% drop in YoY profits in February to $3.23b from the previous year’s $4.11b.

Meanwhile, the non-life segment once again exceeded numbers from the previous year, logging an increase in pre-tax profit of 23.6% to $230m.

Total owners' equity of insurance enterprises at the end of March 2022 was $79.57b. Owners' equity of life insurance enterprises was $74.26b, 8.4% lower compared to last year, whilst owners' equity of non-life insurance enterprises was $5.31b, an increase of 4.3%.

The total pre-tax profit of Taiwan’s insurance industry totaled $4.59b at the end of March.

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