As interest rate increases come to an end, Nanshan Life expects a recovery.
Car Loan Interest Rate :1 Life Expects A Increases Now
With the US Federal Reserve expected to stop raising interest rates and the recent lifting of a four-year ban on selling investment-linked products, Nanshan Life Insurance is projecting a revival in the sector.
The chairman of Nanshan Life, Yin Chung-yao, expressed optimism for the industry in a Bloomberg interview, pointing to expected rate cuts by the Fed in the first half of the year as a driver of higher insurance sales.
Yin also expects Nanshan Life’s product line and market share to increase with the lifting of the ban on investment-linked products.
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Taiwan’s life insurance market underwent a severe crisis, with premium income falling by 21% in 2022 and a additional 6.3% decline in 2023’s first eleven months. Industry observers blame tighter insurance laws and high interest rates for this.
According to Yin, the company is also looking into ways to raise money, such as a possible IPO, though no deadline has been established.
Although Yin expressed confidence in the new regulatory framework’s long-term benefits for industry stability, she acknowledged the challenges presented by it.
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