Taiwan Insurers Seek Relief With ‘Rare’ Accounting Change

Taiwan’s life insurers proposed changes to accounting rules that will cut annual hedging costs by an estimated NT$90 billion ($2.9 billion) and provide relief for excessive currency swings, according to a statement from an industry group.

The proposal would allow exchange rate fluctuations to be partially recognized over time, rather than having their full impact reflected immediately, Taiwan’s Life Insurance Association said.