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FYPs of spillover insurance policies soar 261%
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First-year premiums down over 50% - Taipei Times
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FYPs at life insurers rise on investment products
By Kao Shih-ching / Staff reporter
The combined first-year premiums (FYP) generated by local life insurers last month grew 28 percent to NT$80.91 billion (US$2.87 billion) from NT$63.15 billion a year earlier, fueled by sales of investment-linked insurance products, data compiled by the Life Insurance Association showed last week.
The annual growth ended 13 months of declines, the data showed.
The main growth driver was investment-linked annuities, whose FYPs advanced 1.98 times from NT$9.9 billion a year earlier to NT$29.54 billion, as consumers’ appetite for the products increased on expectations of good returns, the data showed.