Taiwan Insurers Hit by Losses in April on US Dollar Slump

Taiwan’s biggest insurers posted a total loss of almost NT$19 billion ($620 million) in April due to currency volatility after US President Donald Trump warned of a wave of global trade tariffs.

The insurers suffered the worst shortfall in a single month in 1 1/2 years, Taipei-based Economic Daily News reported. Among the six biggest, Nanshan Life Insurance Co. posted the largest loss at more than NT$9 billion. KGI Life Insurance Co. was the only one among the largest to avoid a hit.