Fubon Property & Casualty Insurance has shaken off the shadow of the huge claims settlement of the epidemic prevention insurance policy, turning losses into profits for the first time since May last year.

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[Reporter Wu Xintian/Taipei Report] Fubon Financial Holdings' self-consolidated after-tax profit in April 2023 was 7.885 billion yuan, and the accumulated consolidated after-tax profit for the first four months of this year was 21.868 billion yuan, with an after-tax earnings per share (EPS) of 1.76 yuan.

The subsidiary Fubon Property & Casualty Insurance has shaken off the shadow of the huge claims settlement of the epidemic prevention insurance policy, turning losses into profits in a single month for the first time since May last year.

Fubon Property & Casualty's after-tax profit in April 2023 was 380 million yuan, and the accumulated after-tax loss was 3.874 billion yuan.

Fubon said that this month's profit has turned from loss to profit, reflecting that the claims and reserves of the epidemic prevention insurance policy have been withdrawn in Q1, and the company's strengthening of business quality control has shown results.

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Fubon Life's after-tax profit in April 2023 was 5.158 billion yuan, and the cumulative after-tax profit for the first four months was 12.407 billion yuan.

In April, Taiwan stock market consolidated within a narrow range. Fubon Life Insurance stated that interest income, investment interests in domestic stocks and funds, and dividends are the main sources of profit.

The after-tax profit of Taipei Fubon Bank in April 2023 was 1.906 billion yuan, and the accumulated after-tax profit was 8.641 billion yuan, an increase of 1.3% compared with the same period last year. The accumulative profit increased by about 37% compared with the same period last year, mainly because the financial market has stabilized relatively since the beginning of this year. The same period last year increased, and the cumulative revenue grew by double digits compared with the same period last year.

Fubon Securities' after-tax profit in April 2023 was 383 million yuan, and the cumulative after-tax profit for the first four months was 2.021 billion yuan, an increase of 578 million yuan over the same period last year, an annual growth of 40%.

Fubon Securities stated that the daily average value of Taiwan stocks in the first four months of this year was 295.6 billion yuan, a decrease of 20% compared with the same period last year, which affected the decrease in brokerage business income; however, benefiting from the rebound trend of Taiwan stocks in Q1 in 2023, the weighted index in April rose by 1441% compared with the end of last year. point, making the profit of financial asset positions grow significantly compared with the same period last year.

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