Life insurers reduce declared interest ratesBy Kao Shih-ching / Staff reporterThe nation’s major life insurers this month are continuing to cut the declared interest rates for interest-sensitive products, due to falling bond yields amid a low-interest rate environment, the companies said yesterday. Life insurers release rates on a monthly basis, based primarily on their investment returns, which they use to calculate policyholders’ distributions. Nan Shan Life Insurance Co (南山人壽) and Yuanta Life Insurance Co (元大人壽) also lowered rates. Nan Shan Life kept the rates for its US dollar policies unchanged, but cut the rates for its NT dollar products by 10 basis points, driving the rates to 1.95 percent, corporate data showed. Fubon Life Insurance Co (富邦人壽), Shin Kong Life Insurance Co (新光人壽) and China Life Insurance Co (中國人壽) did not adjust their rates.

Source: Taipei Times July 02, 2020 15:56 UTC