Taiwan FSC Chief Urges Three-Part Insurance Overhaul for Aging Society

Taiwan’s insurance industry began implementing TIS and IFRS 17 in 2026, moving its solvency and financial-reporting framework toward risk-based capital management and the long-term value of insurance contracts. The overhaul is significant for insurers’ capital resilience, product pricing, asset-liability management and corporate governance, while giving regulators a clearer view of companies’ obligations to policyholders.

At the 2026 Taiwan Insurance Development Forum, the Financial Supervisory Commission’s Insurance Bureau said the new regimes had formally taken effect. FSC Chair Peng Jin-lung said short-term financial results should not outweigh insurers’ enduring commitments to customers, while Insurance Bureau Director-General Wang Li-hui outlined priorities including inclusive finance for all ages, green sustainability and technology innovation. The regulator also plans to allow digital-only insurers, seeking to accelerate the sector’s digital transformation.

Taiwan became a super-aged society in 2025, with people aged 65 or older accounting for at least 20% of the population, increasing demand for retirement planning, asset management and wealth succession. The Financial Supervisory Commission sees trusts as a bridge between financial services and elder care, giving banks a broader role beyond product sales and helping clients manage their needs across different stages of life.

FSC Chairman Peng Jin-lung has called for an “all-age finance” framework and urged the trust industry to shift from a product-centered model to one focused on people. The regulator said it would continue implementing its strategic blueprint for trust-business development, steering financial institutions toward service and institutional innovation that can address social challenges and provide longer-term support to customers as Taiwan’s demographic transition accelerates.