Taiwan Archives - InsuranceAsia News https://insuranceasianews.com/country/taiwan/ Tue, 15 Oct 2024 08:57:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 P&C insurers in Asia have much higher equity risks than US peers: Moody’s https://insuranceasianews.com/pc-insurers-in-asia-pacific-have-higher-equity-risks-than-us-peers-moodys/ Tue, 15 Oct 2024 08:09:09 +0000 https://insuranceasianews.com/?p=164807 Equity risks accounted for 32% and 24% of total required capital for Chinese and Taiwanese insurers and for 33% for Japanese insurers, compared to 10% for US carriers, according to Moody's latest Capital Tool analysis.

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Equity risks accounted for about 30% of the total required capital for most insurers in China, Japan and Taiwan, almost three times the proportion for their US peers, according to a latest Moody’s rep...

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]]> Typhoon Krathon’s economic losses likely reach ‘tens of million’ in Taiwan, Philippines https://insuranceasianews.com/typhoon-krathons-economic-losses-for-taiwan-philippines-likely-reach-tens-of-million/ Sun, 06 Oct 2024 21:43:46 +0000 https://insuranceasianews.com/?p=164203 The local government in Taiwan's Keelung city estimated that restoration and rebuilding work related to typhoon Krathon will cause US$14.8m according to local media citing city mayor George Hsieh.

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Typhoon Krathon, the first-ever storm to make landfall in Taiwan’s Kaohsiung in the month of October after causing havoc in the Philippines, will likely lead to “tens of millions” economic losses cros...

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]]> Typhoon Krathon makes landfall as Taiwan shuts down for second day https://insuranceasianews.com/typhoon-krathon-makes-landfall-as-taiwan-shuts-down-for-second-day/ Thu, 03 Oct 2024 09:27:21 +0000 https://insuranceasianews.com/?p=164059 The slow-moving typhoon is expected to cause 'catastrophic damage' as it is likely to have a longer impact on the island as it moves through the populous western plains but it is weakening and is expected to turn into a tropical depression before reaching Taipei.

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Typhoon Krathon landed in the major port city of Kaohsiung at noon on October 3 as businesses in all Taiwan have closed for the second consecutive day in response to the storm.
The typhoon packed maxi...

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]]> Typhoon Krathon expected to make ‘rare’ direct hit on Taiwan’s western plains https://insuranceasianews.com/typhoon-krathon-expected-to-make-rare-direct-hit-on-taiwans-western-plains/ Mon, 30 Sep 2024 04:41:52 +0000 https://insuranceasianews.com/?p=163822 The tropical storm, likely to intensify into a super typhoon, is forecast to hit the major port city of Kaohsiung early on October 2 and make its way to Japan.

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Taiwan issued a warning on September 30 as Typhoon Krathon is expected to intensify into a super typhoon and cross the island’s densely populated west coast with its impact to be felt most significant...

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]]> Taiwan non-life insurers to continue double-digit growth: AM Best https://insuranceasianews.com/taiwan-non-life-insurers-to-continue-double-digit-growth-am-best/ Wed, 18 Sep 2024 01:59:56 +0000 https://insuranceasianews.com/?p=162933 AM Best has revised its outlook on Taiwan’s non-life insurance segment to "stable" from "negative".

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Taiwan’s non-life sector will continue to post double-digit growth in the short to intermediate term driven by prudent underwriting, rate adjustments in key product lines and improved capitalisation, ...

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]]> Taiwan’s regulator blocks CTBC Financial’s US$4.1bn bid for Shin Kong Financial https://insuranceasianews.com/taiwans-regulator-blocks-ctbc-financials-us4-1bn-bid-for-shin-kong-financial/ Tue, 17 Sep 2024 03:48:34 +0000 https://insuranceasianews.com/?p=162880 The regulator's rejection now paves the way for the conglomerate's merger with Taishin Financial. Still, a merger will have little impact to Shinkong Insurance, Taiwan’s third-largest P&C insurer, whose biggest shareholder is separate and independent from the conglomerate.

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Taiwan’s top financial regulator has blocked CTBC Financial's US$4.1 billion takeover bid for smaller rival Shin Kong Financial, paving the way for the latter’s merger with Taishin Financial.
In rejec...

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]]> Foreign hackers hit Chung Kuo Insurance’s parent Mega Financial in cyber attack https://insuranceasianews.com/foreign-hackers-hit-chung-kuo-insurances-parent-mega-financial-in-cyber-attack/ Fri, 13 Sep 2024 08:03:28 +0000 https://insuranceasianews.com/?p=162686 Russian hacker group NoName057 claimed to have started a series of DDoS attacks against the financial holding company, government entities including the Ministry of Finance and the Supreme Court since Monday.

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Hackers hit Taiwanese financial platforms including the stock exchange, financial group Mega Financial Holding, and the comptroller office's websites on Thursday, briefly disrupting their websites in ...

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]]> Taiwan specialty market on edge as US presidential election rolls closer  https://insuranceasianews.com/taiwan-specialty-market-on-edge-as-us-presidential-election-rolls-closer/ Thu, 12 Sep 2024 23:30:09 +0000 https://insuranceasianews.com/?p=162106 Following the the recent presidential election debate and the sparring over regional policy, attention is once again focused on the island nation due to the potential risk of disruption posed to its semiconductor sector and supply chains.

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With the US presidential elections day coming closer, the marine and specialty (re)insurance markets in Asia are becoming increasingly anxious because of potential contingent business interruption los...

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]]> Cathay Century’s capitalisation to benefit from retained earnings growth: AM Best https://insuranceasianews.com/cathay-centurys-capitalisation-to-benefit-from-retained-earnings-growth-am-best/ Fri, 06 Sep 2024 07:16:28 +0000 https://insuranceasianews.com/?p=162208 AM Best affirms the financial strength rating of "A" (Excellent) and the long-term issuer credit rating of “a” (Excellent) on Taiwan's second-largest non-life insurer with a stable outlook.

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Cathay Century Insurance is expected to maintain its “robust” level of risk-adjusted capitalisation supported by organic growth in retained earnings on the back of controlled expansion in underwriting...

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]]> APAC reinsurance composite’s 2023 COR improves to 91.6%: AM Best https://insuranceasianews.com/apac-2023-non-life-insurance-revenue-up-8-8-as-reinsurers-cor-improves/ Thu, 05 Sep 2024 22:30:45 +0000 https://insuranceasianews.com/?p=162121 Regional reinsurers saw revenue rise 8.8%, with much of the growth fuelled by China Re and its subsidiary Chaucer.

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The Asia Pacific reinsurance composite reported an 8.8% increase in insurance revenue in 2023, while its combined ratio improved to 91.6% in 2023 from 94.5% a year ago, according to AM Best.
The Asia ...

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