HeTai Non-Life Insurance Targets NT$15.5 Billion with Focus on Green Energy & Cyber Risk
24 March 2025 · Uncategorized ·
Source: · https://finance.technews.tw/2025/03/14/security-insurance/
In 2024, HeTai Non-life Insurance achieved a premium income of NT$143.4 billion, representing a 9% year-over-year increase from the NT$131.7 billion recorded in 2023. Over eight years, its performance has nearly tripled, with losses occurring only during the pandemic; otherwise, steady growth was maintained despite economic instability and volatile investment markets this year.
General Manager Yan Sichi stated that HeTai Non-life Insurance will continue to focus on three key business strategies: expanding group synergies through cross-selling initiatives—such as recommending comprehensive protection plans for car insurance clients—and continuously optimizing operational processes to enhance efficiency, improve internal operations, and elevate customer experience; additionally, deepening corporate culture by strengthening team cohesion while upholding fair treatment principles.
Yan Sichi noted that post-pandemic competition in the insurance market has intensified, with premium rates rising across commercial insurances like fire risk and natural disaster coverage. This trend supports HeTai Non-life Insurance's steady growth without relying on aggressive pricing strategies, ensuring financial stability and social responsibility.
Regarding early-year earthquakes impacting semiconductor clients’ loss assessment times, Yan Sichi indicated that while potential damages may appear in the first quarter reports, they are unlikely to significantly affect annual profit targets due to risk diversification through insurance. Conversely, economic growth is expected to boost semiconductor industry revenues further expanding non-life insurance markets.
HeTai Non-Life Insurance's performance target for this year stands at NT$15.5 billion, with car insurances (60%), commercial insurances (20%) and personal insurances (10%) representing the major business areas. Commercial insurances, particularly those covering export product liabilities, have demonstrated remarkable growth.
HeTai is actively developing new risk insurance businesses such as offshore wind power generation equipment and green energy devices, which saw a 25% increase in demand over the past year. Furthermore, cybersecurity-related insurance services are being expanded to meet increasing corporate security needs—despite robust firewalls not guaranteeing complete protection against all intrusions.
To combat rising fraud cases, HeTai Non-Life Insurance has implemented various anti-fraud measures including hosting lectures at its business outlets featuring police officers from different city and county bureaus. They have also produced educational videos incorporating popular puzzle show elements to strengthen defenses against insurance scams.
HeTai emphasizes three key principles in their 'Anti-Fraud Slogan: Three Nos, Safeguarding Our Wealth' campaign—do not provide personal information, do not click on unknown links, and avoid purchasing unfamiliar policies—along with continuous efforts towards diversified preventive measures aimed at enhancing public awareness of fraud risks.
(Lead image source: TechNews)
General Manager Yan Sichi stated that HeTai Non-life Insurance will continue to focus on three key business strategies: expanding group synergies through cross-selling initiatives—such as recommending comprehensive protection plans for car insurance clients—and continuously optimizing operational processes to enhance efficiency, improve internal operations, and elevate customer experience; additionally, deepening corporate culture by strengthening team cohesion while upholding fair treatment principles.
Yan Sichi noted that post-pandemic competition in the insurance market has intensified, with premium rates rising across commercial insurances like fire risk and natural disaster coverage. This trend supports HeTai Non-life Insurance's steady growth without relying on aggressive pricing strategies, ensuring financial stability and social responsibility.
Regarding early-year earthquakes impacting semiconductor clients’ loss assessment times, Yan Sichi indicated that while potential damages may appear in the first quarter reports, they are unlikely to significantly affect annual profit targets due to risk diversification through insurance. Conversely, economic growth is expected to boost semiconductor industry revenues further expanding non-life insurance markets.
HeTai Non-Life Insurance's performance target for this year stands at NT$15.5 billion, with car insurances (60%), commercial insurances (20%) and personal insurances (10%) representing the major business areas. Commercial insurances, particularly those covering export product liabilities, have demonstrated remarkable growth.
HeTai is actively developing new risk insurance businesses such as offshore wind power generation equipment and green energy devices, which saw a 25% increase in demand over the past year. Furthermore, cybersecurity-related insurance services are being expanded to meet increasing corporate security needs—despite robust firewalls not guaranteeing complete protection against all intrusions.
To combat rising fraud cases, HeTai Non-Life Insurance has implemented various anti-fraud measures including hosting lectures at its business outlets featuring police officers from different city and county bureaus. They have also produced educational videos incorporating popular puzzle show elements to strengthen defenses against insurance scams.
HeTai emphasizes three key principles in their 'Anti-Fraud Slogan: Three Nos, Safeguarding Our Wealth' campaign—do not provide personal information, do not click on unknown links, and avoid purchasing unfamiliar policies—along with continuous efforts towards diversified preventive measures aimed at enhancing public awareness of fraud risks.
(Lead image source: TechNews)