Taiwan's life insurance sector posted an 8.4% fall in premium income, to NT$1,536.2bn ($52.2bn) in the first half of 2020, according to statistics from the Life Insurance Association (LIA-ROC).
First-year premiums of Taiwan's life insurance companies posted a 35.2% plunge to NT$408.9bn in the first half of this year compared to the corresponding period last year. Renewal premium income stood at NT$ 1,127,3bn for the first half of this year, an increase of 7.7% over the first six months of last year.
The breakdown between premiums generated from protection products and investment-type products in the life sector is:
|
|
1H2020
NT$ m
|
Y-on-Y
Change
|
|
Protection
|
1,411,273
|
-6.5%
|
|
Of which
First-year premiums
|
324,047
|
-35.2%
|
|
Renewal premiums
|
1,087,226
|
+7.8%
|
|
Investment-type
|
125,005
|
8.1%
|
|
Of which
First-year premiums
|
84,864
|
-35.1
|
|
Renewal premiums
|
40,142
|
+3.9
|
|
Total
|
1,536,278
|
-8.4%
|
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