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台币飙涨,台湾人寿5月亏损翻倍
Hua Er Jie Jian Wen·2025-06-10 06:22

Core Viewpoint - The Asian life insurance industry is facing a crisis, with Taiwan Life Insurance reporting a significant increase in losses due to currency fluctuations and high exposure to foreign currency assets [1][4]. Group 1: Financial Impact - Taiwan Life Insurance reported a loss of 28.3 billion New Taiwan Dollars (approximately 94.5 million USD) in May, doubling from April's figures [1]. - The Taiwanese life insurance sector has accumulated foreign exchange losses of 118.3 billion New Taiwan Dollars (approximately 4 billion USD) in the first four months of the year [1]. - Despite a net income of 1.45 billion New Taiwan Dollars in the first five months, the substantial loss in May has raised concerns about the long-term stability of Taiwan Life Insurance [4]. Group 2: Asset Allocation and Risks - Approximately 70% of Taiwan's life insurance companies' investment assets are denominated in foreign currencies, primarily in USD bonds, making them vulnerable to currency appreciation [4]. - The rapid appreciation of the New Taiwan Dollar has significantly reduced the value of these USD-denominated assets, directly impacting the companies' net worth [4]. - The life insurance sector in Asia is collectively facing substantial paper losses, with Japan's four major life insurers reporting a record paper loss of 8.5 trillion Japanese Yen (approximately 60 billion USD) in the last fiscal year, a threefold increase year-on-year [6]. Group 3: Industry Response and Regulation - In response to the currency crisis, major life insurance companies in Taiwan, including Cathay Life and Fubon Life, are increasing currency hedging operations to mitigate the impact of exchange rate fluctuations [8]. - The three largest life insurance companies in Taiwan plan to utilize new regulations to flexibly adjust reserve allocations to alleviate financial pressure [8]. - Regulatory authorities are considering allowing insurance companies to report performance using a rolling average exchange rate to smooth out the impact of sudden fluctuations [8].