, Taiwan

Taiwan life insurance suffers 21.2% YoY drop in profit in February

The non-life segment continues its outstanding performance compared to a year ago.

Taiwan’s life insurance segment failed to outperform its previous year’s numbers in February, suffering a 21.2% drop in pre-tax profit from $4.11b in 2021 to $3.23b this year.

The non-life segment, however, continues to surge past its previous year’s numbers, increasing by 45% to $200m from $140m last year.

Taiwan’s owners’ equity insurance was at $83.94b. Owners’ equity in the life segment went down by 4.6% to $78.42b whilst owners’ equity of the non-life segment rose by 6.9% to $5.52b

The total pre-tax profit of Taiwan’s insurance industry at the end of February 2022 was $3.44b.

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