Among Taiwan's major life insurance companies, six major players tallied an aggregate after-tax profit exceeding NT$49bn ($1.76bn) in January 2022. This amounted to an increase of close to 3.6% compared to the NT$47.4bn clocked in January of the previous year. Several of these major life insurers broke their monthly profit records or came close to doing so in January.
The six are:
| Insurer |
After-tax profit
Jan 2022 NT$ bn
|
Remarks |
| Fubon Life |
19.9 |
New monthly record |
| Cathay Life |
13.7 |
Second highest monthly record (Jan 2020: NT$18.65bn) |
| Nanshan Life |
5.4 |
New monthly record; 102% higher than in Jan 2020 |
| Taiwan Life |
4.4 |
Second highest monthly record |
| China Life |
3.7 |
|
| Shin Kong Life |
1.9 |
|
| Total of the six |
49.0 |
|
New business premiums
January new business premiums for Taiwan life insurers is estimated to have exceeded NT$100bn ($3.6bn), probably in the region of NT$108-110bn.
Investment-linked insurance policies are estimated to account for about NT$57bn of the total, while US-dollar interest-sensitive insurance policies should total about NT$40bn, reported Commercial Times.
Four life insurance companies are estimated to have recorded new-business premiums exceeding NT$10bn. They are Cathay Life Insurance (over NT$16.6bn), Fubon Life (nearly NT$16.3bn), BNP Paribas Cardif Life (between NT$13bn and NT$15.6bn), and Nanshan Life (NT$11.4bn).
The popularity of investment-linked insurance policies in recent years has been attributed to the bullish capital market. New premiums yielded by investment-linked policies are gauged to be NT$577.5bn, making up 55% of total new-business premiums for the year.
In the first month of this year, investment-linked insurance policies were still bestsellers, especially through banks and traditional insurance brokerage channels, with sales completely unaffected by swings in the stock and bond markets. Investment-linked policies are still reckoned to add up to more than 50% of the total new-business premiums in January.