Fubon says unit to weather virus claims

Source: taipeitimes.com taipeitimes.com

Key Topics in this News Article:

News Snapshot:

Fubon Financial Holding Co (富邦金控) yesterday said that its insurance unit would weather rising COVID-19 insurance claims and no fundraising is needed. Fubon Insurance Co (富邦產險) said it has sold about 2.31 million COVID-19 insurance policies and as of the middle of this month had paid NT$1.1 billion (US$37.09 million) of claims from 29,000 policyholders. It pays a total of NT$50 million per day in claims, it said. Photo: CNA It is difficult to calculate how much more compensation it would have to pay, as local COVID-19 infections are still on the rise, with a peak not expected until next...