Profit/loss, net value and exchange gains/losses of the insurance industry in July 2024
2024-08-27
The pre-tax profit of insurance enterprises at the end of July 2024 was NT$318.6 billion; the pre-tax profit of life insurance enterprises was NT$300.5 billion, increasing by NT$177.4 billion, or 144.1% compared to last year, while the pre-tax profit of non-life insurance enterprises was NT$18.1 billion, increasing by NT$11.7 billion or 182.8%.
Owners' equity of insurance enterprises at the end of July 2024 was NT$2,815.2 billion; owners' equity of life insurance enterprises was NT$2,670.1 billion, going up by NT$502.7 billion, or 23.2% compared to last year, while owners' equity of non-life insurance enterprises was NT$145.1 billion, going up by NT$25.9 billion or 21.7%.
As of the end of July 2024, the NT Dollar had depreciated by 6.40% against the US Dollar since the end of 2023, and the cumulative balance of foreign exchange valuation reserve of life insurance enterprises was NT$230.6 billion, increasing by NT$138.6 billion. Meanwhile, the combined impact of exchange gains/losses, hedging gains/losses and the net effect of volatility on the foreign exchange valuation reserve of life insurance enterprises was NT$-109.1 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$659 billion.
Owners' equity of insurance enterprises at the end of July 2024 was NT$2,815.2 billion; owners' equity of life insurance enterprises was NT$2,670.1 billion, going up by NT$502.7 billion, or 23.2% compared to last year, while owners' equity of non-life insurance enterprises was NT$145.1 billion, going up by NT$25.9 billion or 21.7%.
As of the end of July 2024, the NT Dollar had depreciated by 6.40% against the US Dollar since the end of 2023, and the cumulative balance of foreign exchange valuation reserve of life insurance enterprises was NT$230.6 billion, increasing by NT$138.6 billion. Meanwhile, the combined impact of exchange gains/losses, hedging gains/losses and the net effect of volatility on the foreign exchange valuation reserve of life insurance enterprises was NT$-109.1 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$659 billion.
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Update:
2024-08-27