Fitch Ratings forecasts a slowing decline in life insurance premiums over the next 12-18 months, as insurers adjust to regulatory changes and economic challenges. The fall in premiums reduced to 11% in H1 this year, from a 21% drop last year, owing to a complex global economic climate and a move from unprofitable savings products under stricter regulations, according to Fitch’s Stella Ng. While sales of savings products, like annuities, have dropped, health insurance policies are witnessing a surge. Ng noted the growth is aligned with an aging population and heightened health risk awareness. Taiwan is progressing towards becoming a super-aged society by 2025. Additionally, Fitch anticipates higher interest-rate charges for insurers under the forthcoming Insurance Capital Standard framework in 2026, setting elevated capital requirements on assets and interest rates.
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