Taiwan's accounting reforms have triggered a sharp retreat from currency forwards, with six major life insurers halving their combined positions in just two months.
Fitch said policy surrender rates for KGI Life, Fubon Life, Nan Shan Life, Taiwan Life, and Cathay Life have remained stable, and that the insurers have taken steps to address currency risk.
S&P Global assigns foreign currency ICR and financial strength rating, while affirming local currency ratings, citing expectations to maintain "satisfactory” earnings and "proactive risk control.”...
