Country: Taiwan Page 1 / 14
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- November 28 2024
Taiwan’s CTBC Insurance to improve financials driven by personal lines, investment performance: AM Best
AM Best has assigned an insurer rating of B++ (good) with a stable outlook for the company.
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- November 18 2024
Taiwan prohibits vessels covered by four insurers from commercial seaports
The action follows the carriers' – Ascent, Edinburgharian PANDI Management, Polaris and Arsenal – failure to resolve shipwreck-related disputes.
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- November 15 2024
Emerging capital standards to increase Korea, HK and Taiwan insurance consolidation: Fitch Ratings
Regulators in the Asia Pacific region are upgrading existing solvency frameworks with a growing emphasis on aligning with ICS, IFRS 17 and other global regimes.
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- October 31 2024
Late-season Typhoon Kong-rey causes disruption in Taiwan, set to bring heavy rains to Shanghai
The biggest storm to make landfall on the island could see property and BI losses as well as the risk of an oil spill from a beached cargo ship on the northern coast.
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- October 30 2024
Taiwan braces for heavy rains, strong wind with super typhoon Kong-rey set to make landfall
The typhoon, allegedly the most powerful in almost six decades, could lead to another suspension of the island’s US$2.5trn stock exchange.
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- October 24 2024
QBE partners Eos Rhea Metis to offer risk engineering services in greater China, South-East Asia
The partnership with the Taiwanese risk manager will support engineering and property underwriting, enhanced risk assessment processes and wider market access.
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- October 15 2024
P&C insurers in Asia have much higher equity risks than US peers: Moody’s
Equity risks accounted for 32% and 24% of total required capital for Chinese and Taiwanese insurers and for 33% for Japanese insurers, compared to 10% for US carriers, according to Moody's latest Capital Tool analysis.
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- October 7 2024
Typhoon Krathon’s economic losses likely reach ‘tens of million’ in Taiwan, Philippines
The local government in Taiwan's Keelung city estimated that restoration and rebuilding work related to typhoon Krathon will cause US$14.8m according to local media citing city mayor George Hsieh.
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- October 3 2024
Typhoon Krathon makes landfall as Taiwan shuts down for second day
The slow-moving typhoon is expected to cause 'catastrophic damage' as it is likely to have a longer impact on the island as it moves through the populous western plains but it is weakening and is expected to turn into a tropical depression before reaching Taipei.
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- September 30 2024
Typhoon Krathon expected to make ‘rare’ direct hit on Taiwan’s western plains
The tropical storm, likely to intensify into a super typhoon, is forecast to hit the major port city of Kaohsiung early on October 2 and make its way to Japan.
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- September 18 2024
Taiwan non-life insurers to continue double-digit growth: AM Best
AM Best has revised its outlook on Taiwan’s non-life insurance segment to "stable" from "negative".
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- September 17 2024
Taiwan’s regulator blocks CTBC Financial’s US$4.1bn bid for Shin Kong Financial
The regulator's rejection now paves the way for the conglomerate's merger with Taishin Financial. Still, a merger will have little impact to Shinkong Insurance, Taiwan’s third-largest P&C insurer, whose biggest shareholder is separate and independent from the conglomerate.
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- September 13 2024
Foreign hackers hit Chung Kuo Insurance’s parent Mega Financial in cyber attack
Russian hacker group NoName057 claimed to have started a series of DDoS attacks against the financial holding company, government entities including the Ministry of Finance and the Supreme Court since Monday.
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- September 13 2024
Opinion: Taiwan specialty market on edge as US presidential election rolls closer
Following the the recent presidential election debate and the sparring over regional policy, attention is once again focused on the island nation due to the potential risk of disruption posed to its semiconductor sector and supply chains.
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- September 6 2024
Cathay Century’s capitalisation to benefit from retained earnings growth: AM Best
AM Best affirms the financial strength rating of "A" (Excellent) and the long-term issuer credit rating of “a” (Excellent) on Taiwan's second-largest non-life insurer with a stable outlook.
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- September 6 2024
APAC reinsurance composite’s 2023 COR improves to 91.6%: AM Best
Regional reinsurers saw revenue rise 8.8%, with much of the growth fuelled by China Re and its subsidiary Chaucer.
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- September 2 2024
Fubon Insurance returns to net profit, COR improves to 86.2% in H1 2024
The Taiwanese market leader's combined ratio dropped 37.2 percentage points from 123.4% a year ago as claims paid for the period more than halved.
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- August 23 2024
Taiwan’s Central Re H1 net profit up 58.7% to US$58.5m despite 6% dip in GWP
Taiwan's only domestic reinsurer saw net investment gains totalling US$62.5m and it reported a 4.3% year-on-year drop in claims paid.
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- August 9 2024
Central Re’s non-life reinsurance leadership in Taiwan to sustain: AM Best
The rating agency has affirmed the financial strength rating of "A" (Excellent) with a stable outlook.
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- August 5 2024
Typhoon Gaemi losses to weigh on Taiwan, Philippines reinsurance market
While China losses are the most significant out of all three markets, the local reinsurance market is unlikely to be affected as agricultural sector is covered by the government.
