LOSING BIG:Shin Kong Life Insurance posted a loss-to-investment ratio of 100 percent after losing all of its investment in its Chinese venture, a Legislative Yuan analysis said

Taipei Times
Date: Oct 23, 2017
By: Staff writer

Local insurance companies are at risk of incurring heavy losses from their investments in China after Shin Kong Life Insurance Co (新光人壽) saw the book value of its Chinese venture drop to zero at the end of the second quarter this year, a Legislative Yuan analysis released on Friday said.

Shin Kong Life Insurance, Cathay Life Insurance Co (國泰人壽) and Taiwan Life Insurance Co (台灣人壽保險), a subsidiary of CTBC Financial Holding Co (中信金控), have made investments in China through joint ventures with Chinese partners.

The analysis showed that the three insurers are reeling from losses at their Chinese ventures, with loss-to-investment ratios of 100 percent, 47.87 percent and 59.16 percent respectively as of June 30.    [FULL  STORY]