Taiwan’s life insurance sector saw significant growth in 2024, with new foreign-currency denominated policy premiums reaching NT$322.66 billion (US$9.68 billion), marking a 22% rise from the previous year’s NT$263.75 billion (US$7.91 billion), according to data from the Insurance Bureau.
Traditional life insurance products dominated the foreign-currency policy market, accounting for 85% of total sales. These products generated NT$272.85 billion (US$8.18 billion), a 35% increase compared to NT$201.68 billion (US$6.05 billion) in 2023.
On the other hand, investment-linked insurance policies, which contributed 15% to total foreign-currency premiums, saw a decline. These products earned NT$49.81 billion (US$1.49 billion), down 20% from NT$62.07 billion (US$1.86 billion) in the prior year.
The exchange rate for the period was NT$32.83 to US$1.
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