Country: Taiwan Page 1 / 10
- May 22 2023
Fubon Insurance reports US$140m loss for Q1 2023
The Taiwanese P&C player says it has raised US$523m and that its current capital position exceeds legal regulatory requirements.
- May 19 2023
Tokio Marine books US$760m FY 2022 Covid losses from Taiwan
The group also saw losses of US$570m from two typhoons and a huge hailstorm in Japan, as overall FY 2022 profit climbed 1.7% to US$2.72bn.
- May 16 2023
Hannover Re questions Taiwanese cedents’ hefty Covid bill
The reinsurer says it is collecting underwriting information to assess the validity of many pandemic claims over the last few years.
- May 1 2023
Shinkong Insurance could sustain stable COR, positive underwriting results: AM Best
The insurer has been rated “a” (excellent) for its very strong balance sheet, adequate operating performance, neutral business profile and appropriate enterprise risk management.
- April 26 2023
Gallagher targets South Korea and Taiwan after Japan foray
Following the announcement of a corporate broking and fac operation with 15 people in Tokyo and senior regional hires, IAN understands the broker is close to launching in Korea.
- April 14 2023
Taiwan P&C carriers seek lifeline from owners after regulatory rebuke
Tokio Marine has taken majority control of its JV, while Fubon, Hotai, and CTBC parents are set to absorb losses.
- April 11 2023
Taiwan regulator orders four insurers to raise capital or risk being taken over: report
Fubon, Tokio Marine Newa, Hotai and CTBC must restore their solvency levels by the end of June, or they would be taken over by the Financial Supervisory Commission within 90 days.
- March 10 2023
Moody’s downgrades Fubon Insurance as pandemic hits profitability
The Taiwanese insurer's rating was changed to A2 from A1 with outlook changed to negative from stable.
- February 16 2023
Fubon Insurance Vietnam under review with negative implications: AM Best
The Taiwanese parent was downgraded on February 3 and put on ratings watch for negative implications
- February 8 2023
Light at end of tunnel for Taiwan’s Covid blues
P&C carriers paid out US$7bn in 2022, however, the expiration of policies in June could be a turning point for the market.
- February 6 2023
AM Best downgrades Fubon Insurance’s credit rating as Covid losses mount
The Taiwan P&C carrier's rating has been changed to “A” (excellent) from “A+” and is under review with negative implications.
- January 16 2023
WTW appoints Tony Yen to lead Taiwan
Yen, who has been at the broker since 2015, succeeds Charles Wang who retired last month.
- January 16 2023
Taiwan’s South China Insurance sees COR improve to 95.2%: AM Best
The company is exposed to a low and controlled level of claims arising from pandemic-related insurance products.
- December 5 2022
Hotai Insurance downgraded by AM Best over ‘significant’ pandemic claims
The Taiwanese general insurer has been rated at B++ as Covid-19 claims wiped off US$853m capital injection by parent Hotai Motor.
- December 5 2022
Nan Shan General to see through Covid claims damage: AM Best
The Taiwanese P&C carrier had reported a net loss of US$426m primarily due to pandemic claims
- November 16 2022
Currency mismatch piles pressure on Asia underwriting
As the US dollar strengthens, carriers in the region are feeling the heat due to worsening asset-liability positions amid capacity constraints.
- November 11 2022
Evergreen captive sees ‘favourable’ net claims: AM Best
AM Best expects that marine underwriting results will continue to be the main driver of its bottom-line.
- November 10 2022
Tokio Marine opens digital labs in Singapore, Taipei and Tokyo
The Japanese giant is creating a new ecosystem, inspired by its Brazilian app.
- November 4 2022
Fubon Insurance’s strong capitalisation will help rebound from Covid: AM Best
A capital injection of US$468.5m in August 2022 from its parent is sufficient to absorb the potential pandemic claims for the Taiwanese carrier.
- October 21 2022
Cathay Financial to inject US$300m into Cathay Century
The fundraise will help the Taiwanese P&C player absorb rising losses on pandemic policies and mark-to-market losses on their investments.