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Fubon Insurance records loss of $1.3 billion in 2022

Posted On: Feb. 9, 2023 9:51 AM CST

Financial results

A.M. Best Co. Inc. said that Taiwan's Fubon Insurance Co. Ltd. reported a net loss of $40 billion Taiwanese ($1.3 billion) in 2022, as compared with a net profit of TWD6.9 billion in the year-ago period, Asia Insurance Review reported. The loss was mainly driven by a one-off loss event from COVID-19-related business.