TaiwanÆs top insurers write-down NT$6.21 billion

The investment income of TaiwanÆs top three domestic life insurers û Cathay, Fubon and Shin Kong û has dropped by an average of 32.4%, according to their latest quarterly results. FubonÆs results do not reflect any business from ING Life in Taiwan, which it recently acquired from ING.The insurance companies have been hit by a combined wave of asset write-downs, diminishing investment returns, foreign currency movements and accumulative hedging costs. Total write-downs by the three ins…