Latest news with #TaiwanLifeInsurance
Bloomberg
14 hours ago
- Business
- Bloomberg
Taiwan Life Losses Double in May as Currency Rally Hit Insurers
Taiwan Life Insurance Co. 's losses more than doubled in May from a month earlier as the local currency's rally against the US dollar pummeled its foreign investments. The insurer posted a loss of NT$2.83 billion ($94.5 million) in May, compared with a NT$1.32 billion loss in April, parent CTBC Financial Holding Co. said in a statement.
Bloomberg
23-05-2025
- Business
- Bloomberg
Taiwan Life Head Loses Sleep on FX, Plans on New Reserves Rule
The Taiwan dollar's recent surge against the greenback is causing sleepless nights for at least one major insurer in Taipei. 'A 10 cent gain in the Taiwan dollar means a foreign-exchange loss of about NT$300 million. How can I sleep well?' Taiwan Life Insurance Co. Chairman Hsu Shu-po said in an interview on Friday. He added that the company is planning to join peers in applying to use a new reserve rule to soften the blow to its income statement.
