Taiwan’s FSC approves 197 spillover-effect insurance products from 13 insurers

These products accumulated 846,835 new contracts.

The Financial Services Commission (FSC) of Taiwan approved or accepted registrations for 197 spillover-effect insurance products from 13 life insurance companies during the third quarter (Q3) of the year.

These products garnered 846,835 new contracts, marking a 5% fall from the 894,728 contracts in Q3 2022.

The first-year premium income reached NT$16.4b, reflecting a 48% increase compared to NT$11.1b in Q3 2022.

ALSO READ: Taiwan’s non-life operating performance ‘likely’ to stay afloat in 2023: AM Best

Additionally, the FSC approved or accepted registrations for 44 in-kind payment insurance products from 6 life insurance companies.

These products generated 198,847 new contracts, indicating a 19% increase from the 167,349 contracts last year.

The first-year premium income amounted to NT$2.7b, showing an 8% rise from NT$2.5b in Q3 2022.

Also Read

APAC emerges as leader in renewables insurance

Only 14% of rich people prioritise life insurance despite awareness

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!

I want to download the media kit

Top News

APAC emerges as leader in renewables insurance

RE is projected to account for 45% of global electricity generation by 2030.

Insurance

6 hours ago

Only 14% of rich people prioritise life insurance despite awareness

41% of SEA saw potential family disputes from lack of a plan as top concern.

Insurance

6 hours ago

Zurich eyes to surpass 23% ROE in next three years

It also aims to achieve core EPS with a CAGR of over 9%.

Insurance

7 hours ago

IFRC-DREF triggers insurance payout after disaster relief demands exceed threshold

The policy provides up to $16.92m in coverage.The International Federation of Red Cross and Red Crescent Societies' Disaster Response Emergency Fund (IFRC-DREF) has triggered its first-ever insurance payout after disaster relief demands exceeded its deductible threshold.

Insurance

7 hours ago