, Taiwan

Taiwan’s life insurance industry profits reports another drop in April

The non-life business also failed to beat its previous year’s record.

Taiwan’s life insurance industry pre-tax profit fell by 13.9% to $5.99b year-on-year (YoY) in April compared to the same time last year, according to statistics released by the Financial Supervisory Commission.

The drop, however, is comparatively lower than the 25% YoY fall in March.

Meanwhile, the non-life insurance segment suffered a drop of 16.5% to $220m YoY compared to a year ago. This was after the segment beat its numbers last March.

Owners' equity of life insurance enterprises was $57.61b, down by 32.3% compared to last year, whilst owners' equity of non-life insurance enterprises was $4.96b, down by 1.7%.

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