Despite the turbulent flow of anti-epidemic insurance policies, with the support of Taipei Fubon Bank and Fubon Life Insurance, Fubon Financial (2881-TW) In the past year (2022), in the situation of losing money for 4 consecutive months, it still made windfall profits. The annual accumulated net income after tax was 46.718 billion yuan, and the net income per share ( EPS) was 3.52 yuan Throne champion profitable.
Fubon Financial today announced (10) its autonomous earnings data for December and 2022. In December, Fubon Life Insurance and Property Insurance suffered losses. There is still a profit of 46.718 billion yuan and the profit cumulative net income per share is 3.52 yuan Annual and cumulative net income per share still ranks first in financial holdings.
Main subsidiary Fubon Life Insurance’s after-tax net loss in December was 7.389 billion yuan, mainly reflecting the cumulative impact of the increase in reserve deposits due to growth in premium income in the month, market shocks investments, exchange losses and hedging costs. However, the net profit after tax in 2022 is still 65.546 billion yuan, the second highest in the same period in previous years.
Fubon Gold said so in DecemberNew Taiwan dollarThe appreciation rate is about 0.63%. In addition, the currency basket strategy worked. The cost of hedging increased under the trend of widening interest rate differentials between Taiwan and the United States. Earnings and last year’s exchange rate losses and hedging costs were still significantly better than those of 2021. At the end of December, the exchange rate reserve The balance still exceeded 37 billion, sufficient to cover the significant risk of exchange rate fluctuations.
In terms of equity and bond investment, despite the tight consolidation of Taiwanese stocks in December, Fubon Shou’s dividend income still increased significantly compared with November; the bond market took advantage of long-term interest rate fluctuations in December and initially issued bonds with high interest rates, with adequate cash flows, maintain overall liquidity and long-term recurring income.
Taipei Fubon Bank’s net profit after tax in December was 653 million yuan, and the annual cumulative net profit after tax was 22.647 billion yuan, an increase of 21%.
In addition, Beifuyin’s total assets increased by 7% last year. At the end of December last year, the overpayment rate was 0.19%, and the bad debt coverage ratio was 702%. Asset quality remained stable.
As for Fubon Property & Casualty, it was dragged down by the settlement of epidemic prevention policy claims, with a cumulative loss of 40.014 billion yuan last year. In December alone, insurance claims for the epidemic prevention reached 11.477 billion yuan, 263,000 claims were verified, and the self-retained claims amount was 11.095 billion yuan; Direct claims related to insurance totaled 73.324 billion, the number of cases was 1.617 million, and claims deemed autonomous totaled 53.210 billion; in addition, 6.349 billion claims have been withdrawn for cases that have occurred but have not been reported or are pending.
In addition, Fubon Securities’ net profit after tax in December last year was 104 million yuan, and the cumulative net profit after tax for the full year was 2.76 billion yuan. with a decrease of about 60% compared to the same period last year. Fubon Gold said the decline in stock earnings was mainly due to the decline in trading volume in Taiwan stocks and a 4,482-point drop in the broader market index, which impacted the performance of stock earnings.
