The Taiwan Financial Services Commission published November 2024 insurance industry figures showing combined pre-tax profit of TWD 351.3 billion at end-November. Life insurers recorded pre-tax profit of TWD 326.3 billion, up TWD 213.3 billion (188.8%) year on year, while non-life insurers reported TWD 25.0 billion, up TWD 8.9 billion (55.3%). Owners’ equity for the insurance sector totalled TWD 2,780.6 billion at end-November, comprising TWD 2,630.7 billion for life insurers (up TWD 533.6 billion, 25.4%) and TWD 149.9 billion for non-life insurers (up TWD 23.5 billion, 18.6%). The Taiwan dollar depreciated 5.31% against the US dollar from end-2023 to end-November, and life insurers’ cumulative foreign exchange valuation reserve rose to TWD 185.2 billion (up TWD 93.2 billion); the combined impact of exchange gains/losses, hedging gains/losses and the net effect of volatility on the reserve was TWD -267.9 billion. Over the same period, life insurers’ overseas investments generated net gains of TWD 795.6 billion (including exchange and hedging gains/losses but excluding the net effect of volatility on the foreign exchange valuation reserve).
Taiwan Financial Services Commission 2025-01-02
Taiwan Financial Services Commission reports end-November 2024 insurance sector pre-tax profit of TWD 351.3 billion
The Taiwan Financial Services Commission reported November 2024 insurance industry figures, with a combined pre-tax profit of TWD 351.3 billion. Life insurers saw a significant increase in pre-tax profit to TWD 326.3 billion, while non-life insurers reported TWD 25.0 billion. The Taiwan dollar depreciated 5.31% against the US dollar, impacting life insurers' foreign exchange valuation reserve, resulting in a net effect of TWD -267.9 billion from exchange and hedging activities.