PCA Life joined several other foreign insurance companies in either exiting Taiwan or scaling down their operations during the global financial crisis. PCA Life entered Taiwan’s life insurance market in November 1999 through the acquisition of ChinFon Life Insurance Co (慶豐人壽). Last year, PCA Life reported first-year premiums (FYPs) of NT$19.15 billion through channels including telemarketing, bancassurance and brokering, accounting for 1.4 percent of total FYPs in Taiwan, Life Insurance Association of the ROC (壽險公會) statistics showed. That was behind other foreign life insurance companies in terms of FYPs, such as Allianz Taiwan Life Insurance Co’s (安聯人壽) NT$79.29 billion, the Taiwan branch of Cardif Assurance Vie’s (法國巴黎人壽) NT$73.7 billion and Chubb Life Insurance Co’s (安達人壽) NT$28.68 billion, the data showed. An executive at a local insurance company said that trust is fundamental to the insurance business, which requires long-term commitment and effort.

Source: Taipei Times February 17, 2019 15:56 UTC