Taiwan Insurers’ FX Losses Double in May on US Dollar Slump

Taiwan’s life insurers’ foreign exchange losses more than doubled to a combined NT$263.8 billion ($9.1 billion) from January through May, as the US dollar’s recent slide drove down the value of their foreign holdings.

Losses grew from NT$118.3 billion during January to April, according to a statement from the Financial Supervisory Commission in Taipei on Thursday. The industry’s foreign exchange loss of NT$145.5 billion in May was the worst since the FSC started releasing the data in 2018, according to calculations by Bloomberg News.