Life insurers can handle strong NT dollar, Huang saysBy Kao Shih-ching / Staff reporterThe capital adequacy of the nation’s life insurers would remain healthy even if the New Taiwan dollar continues trading above NT$29 to the US dollar, Financial Supervisory Commission Chairman Thomas Huang (黃天牧) told lawmakers at a meeting of the legislature’s Finance Committee on Thursday. In light of the strong NT dollar, the Insurance Bureau in August ran a stress test on the nation’s life insurance companies to assess the impact of exchange-rate risk on their finances, Huang said. The entrance to the head office of Cathay Life Insurance in Taipei is pictured on July 16. “Overall, it seems that local life insurance companies could handle a strong NT dollar,” Huang told the meeting. Increased net profit at life insurance companies last year are expected to help cushion their foreign-exchange losses, he said.

Source: Taipei Times October 23, 2020 15:56 UTC