Chartis Taiwan Insurance Co chairman Mark Wei (魏寶生) resigned yesterday for personal reasons after the company posted a robust performance with its underwriting profits topping NT$15 million (US$471,500) in the first two months of this year.
Leslie Mouat, Chartis’ regional president of Southeast Asia, will take on the chairmanship, effective immediately, the insurance agency said, adding that it has also appointed former finance minister Lin Chuan (林全) as a director.
“Under Wei’s leadership, we not only managed to get through difficult times, but we also achieved a tremendous result in first-quarter operations this year,” Mouat told a media briefing yesterday.
The insurance company had a gross premium return of NT$79.6 million in the first two months, with a loss ratio of 35 percent, Chartis said, referring to total losses paid out in claims and adjustment expenses divided by total earned premiums.
Wei said he would take a break for a while before assuming a new position, without elaborating what it would be. However, he said he would continue to help Chartis with its business expansion.
Meanwhile, Chartis Taiwan general manager Jason Tsai (蔡漢凌) said that amid fierce competition in the local insurance market, the company was planning to offer customized property insurance solutions for customers with large assets in the second or third quarter.
“We’ll be the first property insurance company to offer such services in the nation,” Tsai said. “The new insurance coverage will be extended to properties such as personal jets, red wine, works of art and personal collections.”
SECTOR LEADER: TSMC can increase capacity by as much as 20 percent or more in the advanced node part of the foundry market by 2030, an analyst said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to lead its peers in the advanced 2-nanometer process technology, despite competition from Samsung Electronics Co and Intel Corp, TrendForce Corp analyst Joanne Chiao (喬安) said. TSMC’s sophisticated products and its large production scale are expected to allow the company to continue dominating the global 2-nanometer process market this year, Chiao said. The world’s largest contract chipmaker is scheduled to begin mass production of chips made on the 2-nanometer process in its Hsinchu fab in the second half of this year. It would also hold a ceremony on Monday next week to
TECH CLUSTER: The US company’s new office is in the Shalun Smart Green Energy Science City, a new AI industry base and cybersecurity hub in southern Taiwan US chip designer Advanced Micro Devices Inc (AMD) yesterday launched an office in Tainan’s Gueiren District (歸仁), marking a significant milestone in the development of southern Taiwan’s artificial intelligence (AI) industry, the Tainan City Government said in a statement. AMD Taiwan general manager Vincent Chern (陳民皓) presided over the opening ceremony for the company’s new office at the Shalun Smart Green Energy Science City (沙崙智慧綠能科學城), a new AI industry base and cybersecurity hub in southern Taiwan. Facilities in the new office include an information processing center, and a research and development (R&D) center, the Tainan Economic Development Bureau said. The Ministry
ADVERSARIES: The new list includes 11 entities in China and one in Taiwan, which is a local branch of Chinese cloud computing firm Inspur Group The US added dozens of entities to a trade blacklist on Tuesday, the US Department of Commerce said, in part to disrupt Beijing’s artificial intelligence (AI) and advanced computing capabilities. The action affects 80 entities from countries including China, the United Arab Emirates and Iran, with the commerce department citing their “activities contrary to US national security and foreign policy.” Those added to the “entity list” are restricted from obtaining US items and technologies without government authorization. “We will not allow adversaries to exploit American technology to bolster their own militaries and threaten American lives,” US Secretary of Commerce Howard Lutnick said. The entities
Minister of Finance Chuang Tsui-yun (莊翠雲) yesterday told lawmakers that she “would not speculate,” but a “response plan” has been prepared in case Taiwan is targeted by US President Donald Trump’s reciprocal tariffs, which are to be announced on Wednesday next week. The Trump administration, including US Secretary of the Treasury Scott Bessent, has said that much of the proposed reciprocal tariffs would focus on the 15 countries that have the highest trade surpluses with the US. Bessent has referred to those countries as the “dirty 15,” but has not named them. Last year, Taiwan’s US$73.9 billion trade surplus with the US
RSS