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COVID-19: Domestic insurers risk reduced capital adequacy over COVID-19 compensation

Local insurers might see a decline in their capital adequacy because of high payouts to holders of COVID-19 insurance policies amid a surge in domestic infections, the Financial Supervisory Commission (FSC) told a meeting of the legislature’s Finance Committee in Taipei yesterday.
The commission did not disclose the total amount that insurers might have to pay policyholders, saying only that about 6 million COVID-19 insurance policies remain valid and that the compensation amount has not been finalized.
Democratic Progressive Party Legislator Kuo Kuo-wen (郭國文) said that since the Central Epidemic Command Center (CECC) has estimated Taiwan’s infection rate to be about 15 ....

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《TAIPEI TIMES》 Domestic insurers risk reduced capital adequacy over COVID-19 compensation - 焦點

By Kao Shih-ching / Staff reporterLocal insurers might see a decline in their capital adequacy because of high payouts to holders of COVID-19 insurance policies amid a surge in domestic infections, the Financial Supervisory Commission （FSC） told a meeting of the legislature’s Finance Committee in Taipei yesterday. ....

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FSC to ensure ShopeePay customers' data is secure

ShopeePay Taiwan Co (蝦皮支付) and Cathay United Bank (國泰世華銀行) have been targeted by the Financial Supervisory Commission (FSC) over information security and consumer protection, after lawmakers yesterday raised concerns about the e-commerce platform possibly being funded by Chinese investors.
ShopeePay and Cathay United recently partnered to issue cobranded credit cards, which reward consumers up to 4 percentage points for anything they spend on the platform.
The company’s collaboration with a local bank raised concerns over whether consumers’ data could be leaked to behind-the-scene Chinese investors, Democratic Progressive Party Legislator Kuo Kuo-wen (郭國文) told a meeting of the legislature’s Finance Committee in ....

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New Taiwan dollar falls 0.5%, lowest in 18 months

The New Taiwan dollar yesterday weakened 0.5 percent, or NT$0.144, to NT$29.05 in Taipei trading, the lowest in more than 18 months, as foreign players slashed holdings in pursuit of higher yields elsewhere, dealers said.
It is the first time since September 30, 2020, that the local currency ended weaker than NT$29 against the US dollar, the central bank’s Web site showed.
Combined turnover at Taipei Forex Inc and the smaller Cosmos Forex Inc totaled US$2.49 billion.
The NT dollar’s decline has much to do with global funds redeploying assets after central banks announced monetary tightening policies, currency traders said.
For example, the US ....

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Local stocks offer attractive dividend yields: FSC

The average dividend yield of Taiwan Stock Exchange (TWSE) listed stocks is almost 4 percent, making them more attractive than 10-year US Treasury bonds, Financial Supervisory Commission (FSC) Chairman Thomas Huang (黃天牧) said yesterday.
The 10-year US Treasury yield hit a three-year high of 2.73 percent on Friday.
The average cash dividend yield of Taiwanese stocks is 3.84 percent, Huang told reporters, adding that the average yield rises to 3.96 percent after adding in stock dividends.
The TAIEX’s overall performance has been relatively stable, despite the big swings and shrinking market turnover, he said.
Huang was responding to concerns about recent changes in capital ....

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