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AM Best Affirms Credit Ratings of Fubon Insurance Vietnam Co., Ltd.

AM Best Affirms Credit Ratings of Fubon Insurance Vietnam Co., Ltd.
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AM Best Affirms Credit Ratings of Fubon Insurance Co., Ltd.

AM Best Affirms Credit Ratings of Fubon Insurance Co., Ltd.
insurancenewsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancenewsnet.com Daily Mail and Mail on Sunday newspapers.

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Fubon Insurance board approves capital increase

Fubon Insurance Co’s (富邦產險) board of directors on Tuesday approved a proposed capital increase to enhance the company’s risk-based capital ratio.
A capital injection of NT$15 billion (US$500.32 million) by the end of next month would help lift its risk-based capital ratio by 100 percentage points, the company said in a statement.
The ratio stood at 225.8 percent at the end of June, slightly above the regulatory minimum of 200 percent, it said.
Cathay Century Insurance Co (國泰世紀產險), CTBC Insurance Co (中國信託產險) and Tokio Marine Newa Insurance Co (新安東京海上產險) have already approved plans to boost their capital by NT$10 billion, NT$4 billion ....

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Financial holding firms take a hit from virus policies

Bringing Taiwan to the World and the World to Taiwan ....

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Fubon says unit to weather virus claims

Fubon Financial Holding Co (富邦金控) yesterday said that its insurance unit would weather rising COVID-19 insurance claims and no fundraising is needed.
Fubon Insurance Co (富邦產險) said it has sold about 2.31 million COVID-19 insurance policies and as of the middle of this month had paid NT$1.1 billion (US$37.09 million) of claims from 29,000 policyholders.
It pays a total of NT$50 million per day in claims, it said.
It is difficult to calculate how much more compensation it would have to pay, as local COVID-19 infections are still on the rise, with a peak not expected until next month, Fubon Insurance said.
Fubon Insurance ....

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