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Taiwan Life Insurance Co (台灣人壽) is considering injecting capital into its subsidiary CTBC Insurance Co (中國信託產險), as the unit has been paying out about NT$5 million (US$168,294) per day in compensation for COVID-19 claims, parent company CTBC Financial Holding Co (中信金控) told an investors’ conference in Taipei yesterday.
The amount of the injection has not been finalized, as the number of claims affecting CTBC Insurance’s financial strength would change as the government changes its disease prevention measures, such as the isolation rules, CTBC Financial spokeswoman Chiu Ya-ling (邱雅玲) said.
The cash injection would not reduce Taiwan Life’s capital adequacy too much, Chiu