| Unit: NTD thousand, except for earnings per share, which is in NTD |
|
2023 |
2022 |
| Operating revenues (Note 4) |
|
|
| Written premiums (Notes 31 and 37) |
$8,635,262 |
$7,904,950 |
| Reinsurance premiums (Note 37) |
424,951 |
429,483 |
| Premium revenues |
9,060,213 |
8,334,433 |
| Less: Reinsurance expenses (Note 37) |
(2,194,819) |
(1,949,219) |
| Less: Net change in unearned premium reserve |
(214,921) |
(107,584) |
| Retained earned premiums (Note 37) |
6,650,473 |
6,277,630 |
| Reinsurance commissions received (Note 37) |
331,565 |
301,006 |
| Service fee |
27,391 |
24,200 |
| Net investment gains |
|
|
| Interest income (Note 25) |
158,584 |
88,902 |
| Gains on financial assets or liabilities at fair value through profit and loss |
(2,426) |
(22,794) |
| Realized gains/losses on financial assets at fair value through other comprehensive income (Note 8(1)) |
165,535 |
124,802 |
| Gain (loss) on exchange (Note 25) |
1,045 |
74,048 |
| Gains (losses) on investment property (Note 25) |
55,284 |
53,256 |
| Expected credit impairment loss and reversal gain on investment |
1,757 |
(3,910) |
| Total net investment gains |
379,779 |
314,304 |
| Other operating revenues |
4,918 |
14,113 |
| Other operating revenues - Others |
477 |
1,628 |
| Total operating revenues |
7,394,603 |
6,932,881 |
| Operating Cost |
|
|
| Retained claims and benefits (Notes 31 and 37) |
|
|
| Insurance claim and benefit payments |
4,682,310 |
4,009,053 |
| Less: Claims recovered from reinsurers |
(1,164,374) |
(820,578) |
| Total retained claims and benefits paid |
3,517,936 |
3,188,475 |
| Net change in other liabilities (Note 37) |
|
|
| Net change in claim reserves |
$212,243 |
$244,033 |
| Net change in special claim reserves |
33,573 |
76,213 |
| Net change in premium deficiency reserves |
(1,017) |
430 |
| Total net change in other liabilities |
244,799 |
320,676 |
| Commission expenses (Note 37) |
1,190,420 |
1,099,267 |
| Service charges (Note 37) |
134,931 |
129,912 |
| Other operating costs |
|
|
| Contribution to insurance stabilization fund (Note 38) |
17,295 |
15,095 |
| Interest expenses |
113 |
18 |
| Loss on exchange - non-investment (Note 25) |
- |
- |
| Other operating costs - Others |
- |
4 |
| Total other operating costs |
17,408 |
15,117 |
| Total operating costs |
5,105,494 |
4,753,447 |
| Gross profit |
2,289,109 |
2,179,434 |
| Operating expenses (Notes 25 and 31) |
|
|
| Selling expenses |
1,419,149 |
1,396,779 |
| Administrative expenses |
112,032 |
105,348 |
| Staff training expenses |
2,817 |
2,135 |
| Total operating expenses |
1,533,998 |
1,504,262 |
| Operating profit |
755,111 |
675,172 |
| Non-operating income and expenses |
|
|
| Asset retirement loss |
(608) |
(142) |
| Recovery of bad and overdue debts |
88 |
46 |
| Sundry income |
64 |
3 |
| Sundry expenses (Note 16) |
(187) |
(145) |
| Total non-operating income and expenses |
(643) |
(238) |
| Pre-tax profit from continuing operations |
754,468 |
674,934 |
| Income tax expenses (Notes 4 and 26) |
118,227 |
116,087 |
| Current net income |
636,241 |
558,847 |
| Other comprehensive income (Note 24) |
|
|
| Items not reclassified into profit and loss |
|
|
| Remeasurement of defined benefit plan (Notes 4 and 22) |
3,223 |
59,642 |
|
Amount |
Amount |
| Income tax on items not reclassified into profit and loss (Note 26) |
(645) |
(11,929) |
| Gains/losses on valuation of equity instruments at fair value through other comprehensive income |
$134,010 |
106,553 |
| Total items not reclassified into profit and loss |
136,588 |
154,266 |
| Items likely to be reclassified into profit and loss |
|
|
| Gains/losses on debt instruments at fair value through other comprehensive income |
9,106 |
(57,589) |
| Other comprehensive income - current (net, after tax) |
145,694 |
96,677 |
| Total comprehensive income - current |
$781,935 |
$655,524 |
| Earnings per share (Note 27) |
|
|
| Basic |
$2.11 |
$1.86 |
| Diluted |
$2.11 |
$1.85 |
