Insurers in Taiwan posted a 36.3% surge in pre-tax profits in the first half of this year to NT$101bn ($3.25bn) over the corresponding period last year, according to the Financial Supervisory Commission (FSC).
Of the total, the pre-tax profits of the life insurance industry amounted to NT$92.7bn in 1H2019, an increase of 43.1% over the same period last year. The life insurance sector reported the jump in pre-tax gains despite suffering a net foreign exchange loss of NT$115bn in the first six months of this year.
In contrast, the pre-tax profits of the property insurance industry were NT$8.3bn for the first half of this year, a decrease of 10.1% over the corresponding period last year.