Taiwan's Cathay Life posts $2.18b net profit in 4M 2021

Parent firm Cathay Financial recorded a $511m net profit in April.

Taiwan’s Cathay Life Insurance has posted a $2.18b (NT$61.04b) net profit for the first four months of 2021, higher than the $1.88b (NT$51.54b) recorded for the whole of 2020, according to the Central News Agency.

This helped Cathay Financial retain its standing as the most profitable stock-listed firm in the country. Its own net profit in April totaled $511m (NT$14.3b), significantly higher than the $146.6m (NT$4.1b) reported in the same month in 2020.

Its non-life insurance, securities and investment trust operations also saw their net profits hitting new highs, Cathay Financial said.

Meanwhile, Fubon Financial posted $2.29b (NT$63.93b) in net profit with earnings per share (EPS) at $0.22 (NT$6.25), beating Cathay Financial's $0.19 (NT$5.39) to become the top earner in terms of EPS.

Fubon Financial said the higher net income came after flagship subsidiary Fubon Life Insurance posted $1.73b (NT$48.59b) in net profit in the four months in 2021.