COVID-19 policies eating into insurance firm profits – Taipei Times

Five local insurers are considering raising new funds to bolster their financial strength as increasing compensation claims from COVID-19 insurance policyholders are reducing their profits, the Financial Supervisory Commission said on Thursday. Five of the six insurers with the greatest COVID-19 insurance sales — Fubon Insurance Co (富邦產險), Cathay Century Insurance Co (國泰世紀產險), Tokio Marine Newa Insurance Corp (新安東京海上產險), CTBC Insurance Co (中國信託產險), Chung Kuo Insurance Co (兆豐產險) and Hotai Insurance Co (和泰產險) — are considering new plans to raise capital, the commission said. Two insurers plan to increase capital once their risk-based capital — a ratio of an insurer's…