Sales of investment-linked policies plunged 30 percent annually to NT$166.86 billion, while those of traditional insurance products dipped 7 percent to NT$351.99 billion, commission data showed. Foreign-currency insurance policies last year fell out of favor, as the nation’s major life insurers continued to trim the products’ declared rates, which decide how big a bonus policyholders gain each month. The insurer plans to continue enhancing its marketing of foreign-currency products, as they are helpful in reducing the cost of currency hedging, it said. In related news, Nan Shan Life Insurance Co (南山人壽) general manager Hsu Miao-chiu (許妙靜) applied for retirement on Tuesday. “[Nan Shan’s] general manager should stand up and say ‘no’ to the major shareholders if they have improper demands or suggestions,” Koo said.
