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Prospects and Analysis of Taiwan’s Life Insurance Industry
SPEAKER: Joyce Huang, Associate Director, Fitch Ratings’ Financial Institutions Group
The global financial crisis and subsequent severe economic recession in Taiwan have heightened the risk of substantial negative interest carry for Taiwanese life insurers. The Taiwanese life insurers’ financial strength was noticeably weakened by the steep decline in Taiwan’s stock market, the unexpectedly wide swing of foreign exchange rates and the sizeable impairment on offshore investments in structured securities in 2008.
Although the recent year-to-date capital markets recovery has somewhat alleviated the sector’s capital pressure, the need to recapitalize and minimize negative interest spread remain a pressing task. During this luncheon Joyce will share her insights on this vital issue with AmCham’s members. There will be a focus on the latest insurance product development, new growth drivers, the performance and capitalization of Taiwanese life insurance companies and potential resolutions to negative spread, such as the possibility of expansion into China.
About the Speaker
Joyce Huang is an Associate Director in Fitch Ratings’ Financial Institutions Group. She joined Fitch in March 2005 and is responsible for the credit analysis of Taiwanese Financial Institutions as well as the insurance industry in China. Joyce was previously an equity analyst at Taiwan Securities Investment Advisory, focusing on the financial industry and has previous experience working in domestic financial institutions.
Joyce holds a MA in Financial Management from National Sun Yat-Sen University. She is a CFA charterholder and has been designated Fellow, Life Management Institute, with distinction.
102809 Fitch Rating -Taiwan life sector (224.1 kB)
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