August 23, 2017 / 7:02 AM / a year ago

BRIEF-S&P sees Taiwan's life insurers facing higher currency hedging risk in 2017

Aug 23 (Reuters) - S&P Global Ratings said on a conference call on Wednesday that:

* It sees Taiwan’s life insurers facing higher currency hedging risk this year amid stronger Taiwan dollar against the U.S. dollar.

* It sees hedging risk facing the sector “manageable” and not affecting credit rating.

* 65 percent of Taiwan life insurers’ assets is dominated by foreign currency as of March.

The Taiwan dollar has been among the region’s strongest currencies against the U.S. dollar this year, as the central bank has refrained from weakening the currency through market intervention as a precaution against the possibility of being labeled currency manipulator by the administration of U.S. President Donald Trump. (Reporting by Faith Hung)

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