Reported 8 months ago
Benefiting from border openings, last year saw a rise in international business for insurance companies' Offshore Insurance Units (OIU), selling a total of 9 new insurance policies, up from 3 in 2022; however, in the first four months of this year, only 3 new policies were sold compared to 7 in the same period last year, reflecting a frozen business largely due to high-value mainland clients still unable to freely travel to Taiwan. While OIU saw growth after border opening last year, this year has shown stagnation, with overall new policy premiums dropping by 68% to $1.1 million by April, down from $3.46 million in the same period last year, showing a significant sales decline since the beginning of the year.
Source: YAHOO