Taiwan Records Growth in Foreign-currency Insurance

According to the Financial Supervisory Commission (FSC), by the end of August 2024, Taiwan’s life insurance industry witnessed premium revenues of $5.75 billion (NT$191.81 billion) from new foreign – currency denominated policies. This shows a 4% increase compared to the same period in 2023, when the revenues were $5.55 billion (NT$185.00 billion).

Traditional insurance products within these foreign – currency policies accounted for $4.86 billion (NT$161.99 billion), which is 84% of the total. This represents a significant 17% year – on – year rise from $4.16 billion (NT$138.78 billion).

However, investment – linked insurance products told a different story. They contributed $0.89 billion (NT$29.82 billion), making up 16% of the total. This marks a sharp 35% decline from the $1.39 billion (NT$46.22 billion) recorded during the same period last year.

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