FSC - Financial Supervisory Commission of Taiwan
FSC - Financial Supervisory Commission of Taiwan
10/01/2024 | Press release | Distributed by Public on 10/01/2024 02:13
Profit/loss, net value and exchange gains/losses of th......
Profit/loss, net value and exchange gains/losses of the insurance industry in August 2024
2024-10-01
The pre-tax profit of insurance enterprises at the end of August 2024 was NT$305.4 billion; the pre-tax profit of life insurance enterprises was NT$285.7 billion, increasing by NT$136.4 billion, or 91.4% compared to last year, while the pre-tax profit of non-life insurance enterprises was NT$19.7 billion, increasing by NT$10.1billion or 105.2%.
Owners' equity of insurance enterprises at the end of August 2024 was NT$2,824.5 billion; owners' equity of life insurance enterprises was NT$2,677.3 billion, going up by NT$588 billion, or 28.1% compared to last year, while owners' equity of non-life insurance enterprises was NT$147.2 billion, going up by NT$26.3 billion or 21.8%.
As of the end of August 2024, the NT Dollar had depreciated by 3.77% against the US Dollar since the end of 2023, and the cumulative balance of foreign exchange valuation reserve of life insurance enterprises was NT$174.7 billion, increasing by NT$82.7 billion. Meanwhile, the combined impact of exchange gains/losses, hedging gains/losses and the net effect of volatility on the foreign exchange valuation reserve of life insurance enterprises was NT$-179.6 billion. Over the same period, the overseas investments of life insurers resulted in net gains (including exchange gains/losses and hedging gains/losses, but not including the net effect of volatility on the foreign exchange valuation reserve) of NT$608.2 billion.
Owners' equity of insurance enterprises at the end of August 2024 was NT$2,824.5 billion; owners' equity of life insurance enterprises was NT$2,677.3 billion, going up by NT$588 billion, or 28.1% compared to last year, while owners' equity of non-life insurance enterprises was NT$147.2 billion, going up by NT$26.3 billion or 21.8%.
As of the end of August 2024, the NT Dollar had depreciated by 3.77% against the US Dollar since the end of 2023, and the cumulative balance of foreign exchange valuation reserve of life insurance enterprises was NT$174.7 billion, increasing by NT$82.7 billion. Meanwhile, the combined impact of exchange gains/losses, hedging gains/losses and the net effect of volatility on the foreign exchange valuation reserve of life insurance enterprises was NT$-179.6 billion. Over the same period, the overseas investments of life insurers resulted in net gains (including exchange gains/losses and hedging gains/losses, but not including the net effect of volatility on the foreign exchange valuation reserve) of NT$608.2 billion.