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Finance, insurance sector s real-estate stake climbs

Finance, insurance sector s real-estate stake climbs
taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.

Financial firms report declines in monthly profits

Almost all local financial conglomerates reported a monthly drop in net profit last month, as their investment and wealth management businesses were affected by a COVID-19 outbreak in the home market. Except for SinoPac Financial Holdings Co (永豐金控), whose net profit rose 4 percent sequentially to NT$1.25 billion (US$45.24 million) last month, the 14 other local financial conglomerates said their net profit declined by a high single-digit or double-digit percentage from April. Cathay Financial Holding Co’s (國泰金控) net profit was halved to NT$7.23 billion last month from NT$14.3 billion in April, as its flagship firm, Cathay Life Insurance Co (國泰人壽), reported a

Shin Kong Life fundraiser mulled - Taipei Times

Shin Kong Financial Holding Co (新光金控) might consider raising fresh capital to boost the financial strength of its life insurance arm, the company told an online investors’ conference in Taipei on Thursday. Eyeing an annual NT$30 billion (US$1.08 billion) contractual service margin, Shin Kong Life Insurance Co (新光人壽) aims to maintain a risk-based capital ratio greater than 200 percent, and the insurer would therefore need fresh funds to expand its assets and scale up its business, Shin Kong Financial spokesman Stan Lee (李超儒) said. “We do not see an urgent need to inject capital immediately, but we might do so later this

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