Fubon Insurance records loss of $1.3 billion in 2022

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.