Taiwan's life sector sees 7% growth in foreign-currency sales

Investment-linked insurance products accounted for 15% of the total.

Taiwan’s life insurance industry reported significant sales growth in foreign-currency-denominated products end-April with premium revenues from new policies totalling $2.98b (NT$96.11b), data from the Insurance Bureau showed.

This marked a 7% year-on-year (YoY) increase from $2.77b (NT$89.412b) compared to the previous year.

Investment-linked insurance products accounted for $0.44b (NT$14.165b), constituting approximately 15% of the total, down by 27% from $0.60b (NT$19.449b) YoY.

Sales of traditional insurance products reached $2.55b (NT$81.948b), comprising around 85% of the total and showing a 17% YoY increase from $2.17b (NT$69.963b) in 2023.

($1.00 = NT$32.59)