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 (2022) year, under the predicament of losing money for 4 consecutive months, it still made outstanding profits. The accumulated annual net profit after tax was 46.718 billion yuan, and the net profit per share (EPS) was 3.52 yuan. Profitable champion throne.
Fubon Financial announced today (10) its self-contained profit 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 cumulative net profit per share is 3.52 yuan. The annual and cumulative net profit per share still ranks first in financial holdings.
The net loss after tax of the core subsidiary Fubon Life Insurance in December was 7.389 billion yuan, mainly reflecting the comprehensive impact of the increase in reserve deposits under the growth of premium income in the month, investment market shocks, exchange losses and hedging costs. However, the net profit after tax in 2022 is still It was 65.546 billion yuan, the second highest in the same period of previous years.
Fubon Gold stated that in DecemberNew Taiwan dollarThe appreciation rate is about 0.63%. In addition, the basket currency strategy has worked. The cost of hedging has increased under the trend of widening interest rate differentials between Taiwan and the United States. Last year’s exchange gains and losses and hedging costs were still significantly better than those in 2021. As of the end of December, the reserve for foreign exchange price changes The balance is still more than 37 billion, enough to deal with the considerable risk of exchange rate fluctuations.
In terms of stock and bond investment, despite the narrow consolidation of Taiwan stocks in December, the dividend income of Fubon Shou still increased significantly compared with November; the bond market took advantage of the long-term interest rate fluctuations in December, and first allocated bonds with high interest rates, with appropriate cash Flow, maintain overall liquidity and long-term recurring income.
Taipei Fubon Bank’s after-tax net profit in December was 653 million yuan, and the cumulative annual after-tax net profit was 22.647 billion yuan, an increase of 21%. Increased by 14%.
In addition, Beifuyin’s total assets increased by 7% last year. As of the end of December last year, the overpayment ratio was 0.19%, and the coverage ratio for bad debts was 702%. The asset quality remained stable.
As for Fubon Property & Casualty, it was dragged down by the claims settlement of the epidemic prevention policy, with a cumulative loss of 40.014 billion yuan last year. In December alone, the epidemic prevention insurance claims reached 11.477 billion yuan, 263,000 claims were verified, and the amount of self-retained claims was 11.095 billion yuan; Insurance-related direct claims amounted to 73.324 billion, the number of cases was 1.617 million, and self-retained claims amounted to 53.210 billion; in addition, 6.349 billion self-retained claims have been withdrawn for cases that have occurred but have not been reported or are pending.
In addition, Fubon Securities’ after-tax net profit in December last year was 104 million yuan, and the cumulative annual after-tax net profit was 2.76 billion yuan, a decrease of about 60% compared with the same period last year. Fubon Gold stated that the decline in securities profits was mainly due to the decline in trading volume in Taiwan stocks and the 4,482 point drop in the broader market index, which affected the performance of securities profits.