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Four non-life Taiwanese insurers told to raise solvency levels

Four non-life insurance companies in Taiwan have been ordered to raise new capital by the end of June after their capital solvency conditions worsened due to massive COVID-19 insurance policy payments, according to the Financial Supervisory Commission (FSC). The companies - CTBC Insurance, Fubon Insurance, Tokio Marine Newa Insurance and Hotai Insurance - failed to meet risk-based capital (RBC) ratios at the end of last year, with all four companies’ RBC ratios falling into negative territory. They must now restore their solvency levels by raising fresh capital by the end of June or face being taken over by the commission within 90 days. Fubon Insurance aims to raise TWD16bn (USD572m) after a capital injection of TWD15bn in August last year to address the issue.


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