The tsunami of epidemic prevention insurance claims flooded the property insurance industry, with a loss of 154.3 billion yuan in the first November of this year.

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[Reporter Wang Menglun/Taipei Report] The "epidemic prevention double insurance" (epidemic prevention insurance + vaccine insurance) claims were hit like a tsunami, and the property insurance industry ushered in the worst winter in history!

According to the latest statistics released by the Financial Supervisory Commission, the property insurance industry lost as much as 154.3 billion yuan from January to November this year, which is the worst year in Taiwan's property insurance industry since its establishment 62 years ago.

 The tsunami of "Double Insurance for Epidemic Prevention" claims will make 2022 the worst year in the history of the property insurance industry, dragging down the overall industry's profits.

In particular, the number of confirmed cases in China has increased significantly recently, and the industry has accelerated the processing of claims for epidemic prevention insurance, resulting in a continuous increase in the number and amount of claims.

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 According to statistics from the Insurance Bureau of the Financial Regulatory Commission, the property insurance industry had a pre-tax loss of 154.3 billion yuan in the first November of this year, which was not only a sharp decrease of 176.6 billion yuan or 791.9% compared with the same period last year; in addition, the life insurance industry made a pre-tax profit in the first November of this year. 216.1 billion yuan, a decrease of 170.4 billion yuan compared with the same period last year, an annual decrease of 44.1%.

 In particular, in the property insurance industry, it was mainly impacted by the "double insurance for epidemic prevention" claims. As of December 26 this year, the cumulative claims amounted to 207.19 billion yuan, breaking through the 200 billion yuan barrier, eating up the profits of the property insurance industry, and lead to losses.

 According to the information from the P&C Insurance Association, since the domestic private property insurance industry was established in the autumn of 1960, there were 10 companies in total at that time.

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