According to statistics from the Financial Supervisory Commission, the insurance industry suffered a total loss of 4.7 billion yuan in February this year, among which the property insurance industry "turned from profit to loss" (data photo)
[Reporter Wang Menglun/Taipei Report] According to the latest statistics from the Financial Supervisory Commission, the insurance industry (property insurance + life insurance) in February this year had a total loss of 4.7 billion yuan; among them, the property insurance industry managed to make a profit of 1.2 billion yuan in January. But in February, it reversed to a loss of 1.3 billion yuan; as for the life insurance industry, it continued to lose money, but the amount decreased, from a large loss of 21.9 billion yuan in January to a loss of 3.4 billion yuan in February.
First of all, in terms of the profit performance of the property insurance industry, the Insurance Bureau of the Financial Regulatory Commission pointed out that the pre-tax profit of property insurance in January this year was 1.2 billion yuan, ending the record of losses for nine consecutive months, which also represented the underwriting benefits of the property insurance industry in January , which is slightly greater than the impact of the "Double Insurance for Epidemic Prevention" claim settlement.
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However, only one month later, although the amount of claims for epidemic prevention dual insurance fell from 22.05 billion yuan in January to 19.69 billion yuan in February, a monthly decrease of 10.7%, the loss of epidemic prevention dual insurance claims was higher than expected. The property insurance industry turned from a loss of 1.3 billion yuan again in February.
The industry said that under the impact of the tsunami of claims for epidemic prevention and double insurance, from April to December last year, for nine months, the property insurance industry suffered monthly losses and no profits; according to statistics, the property insurance industry had a total of A big loss of 190.5 billion yuan was the worst performance in history.
As for the cumulative calculation from January to February this year, the property insurance industry lost 100 million yuan, and there is still pressure on the operational level.
In this regard, the insurance executive said that, after all, claims for epidemic prevention and dual insurance are the most painful in the heart of the property insurance industry; however, the command center redefines the confirmed cases of COVID-19, if "mild" does not belong to the scope of statutory infectious diseases, and Applicable from March 20.
Does this also mean that claims for epidemic prevention and dual insurance will decline sharply from March?
According to industry analysts, due to the "deferred nature" of claims for insurance policies, the number of claims in March will not be too obvious, and further observation is required.
As for the life insurance industry, the depreciation of the NT dollar against the US dollar in February was originally beneficial to the industry’s profits. However, due to the sharp rise in hedging costs, losses continued in February this year, with a loss of 3.4 billion yuan, but it was still higher than in January. The loss decreased by 21.9 billion yuan.
In addition, according to further statistics, the total pre-tax profit and loss of the property insurance and life insurance industries in February was 4.7 billion yuan; if the accumulated losses from January to February were as high as 25.4 billion yuan.
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