Taiwan insurers boost spillover sales in Q2

A total of 616,088 new contracts were sold.

In the second quarter of 2024 (Q2 2024), Taiwan’s life insurers demonstrated strong performance in selling spillover-effect insurance products and providing in-kind benefits.

The Financial Supervisory Commission (FSC) approved or registered 227 spillover-effect insurance products from 14 life insurance companies.

A total of 616,088 new contracts were sold, reflecting a 13% year-on-year (YoY) increase from 544,368 in the same period of 2023.

First-year premium income rose by 12% YoY to $0.36b (NT$11.58b), up from $0.32b (NT$10.38b) a year earlier.

For in-kind payment insurance products, the FSC approved or registered 44 products from six life insurers.

A total of 135,296 new contracts were sold, representing a 35% YoY surge from 100,460 in the second quarter of 2023.

However, first-year premium income fell by 16% YoY to $0.03b (NT$1.12b), down from $0.04b (NT$1.34b) in the previous year.

($1.00 = NT$32.74)

Follow the link for more news on

insurance

Also Read

Philippine life insurance sector slated for 5.4% CAGR by 2028

Property insurance industry to exceed $152b by 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit