Taiwan insurers hit by losses on US dollar slump

Among the six biggest, Nanshan Life Insurance Co posted the largest loss at more than NT$9bil. — Reuters

Taipei: Taiwan’s biggest insurers posted a total loss of almost NT$19bil or about US$620mil in April due to currency volatility after US President Donald Trump warned of a wave of global trade tariffs.

The insurers suffered the worst shortfall in a single month in one and a half years, Taipei-based Economic Daily News reported.