Fitch Ratings say that it ranks the company profile of Cathay Life and Fubon Life as 'Most Favourable' among several life insurers in a peer review. The other insurers in the peer review have a 'Favourable' company profile.
Cathay Life Insurance, Taiwan's biggest life insurance company, has seen its issuance of $600m 10-year overseas subordinated corporate bonds oversubscribed by around three times.
In a bid to provide more opportunities for insurance companies and fintech firms to co-develop innovative insurance products, the Financial Supervisory Commission of Taiwan (FSC) now allows cross-industry collaborations.
Cathay Life Insurance Co, Taiwan's largest insurer by life market premiums in 2023, established a special purpose vehicle (SPV), Cathaylife Singapore Pte Ltd, in Singapore on 5 June 2024.
The new head of Taiwan's Financial Supervisory Commission (FSC) has said that the regulator hoped to guide the insurance industry to invest more domestically.
Cathay Life Insurance, Taiwan's biggest life insurer, has been issuing debt to strengthen its regulatory capital buffer in preparation for the implementation of the Taiwan Insurance Capital Standard in 2026, notes Fitch Ratings.
Cancer has remained the No. 1 cause of death in Taiwan in 2023 for the 42nd consecutive year in 2023 with lung, liver and colon cancer the most common types, according to the Ministry of Health and Welfare (MOHW) said.
Fubon Life Insurance's financial performance is strong, with its return on equity averaging 14% from 2021 to 2023, sustained by stable mortality and morbidity gains, says Fitch Ratings.
The life insurance market in Taiwan is navigating several developments including the adoption of localised Insurance Capital Standards (TW-ICS) and International Financial Reporting Standard 17 (IFRS17) in 2016, and the pressure to raise additional capital of around NT$100bn ($3.1bn) to meet solvency rules.
CTBC Financial Holding (CTBC) has dismissed media reports that it was eyeing an acquisition of Shin Kong Financial Holding whose biggest subsidiary is Shin Kong Life Insurance.