Taiwan’s Watchdog Says Insurers Can Withstand Covid Claim Surge
- FSC head says insurers can fulfill claims, have raised capital
- Taiwan insurers struggle with US rate hikes, Covid claims
Pedestrians in Taipei.
Photographer: Lam Yik Fei/BloombergThis article is for subscribers only.
Taiwan’s insurance industry has buffered itself against surging Covid claims after raising capital, the head of the island’s market regulator said.
The property insurance companies have no problems fulfilling their obligations in paying claims so far, Huang Tien-mu, the chairperson of the Financial Supervisory Commission, said in an interview on Wednesday. Life insurers also don’t face any operational problems after being allowed to reclassify some assets to cope with further interest rate increases from the Federal Reserve, he said.