Nanshan Life Adopts IFRS 17 and IFRS 9; Asset Reclassification Cuts Equity by NT$63.1 Billion

Taiwan’s life insurers began adopting IFRS 17 and IFRS 9 in 2026, requiring insurance liabilities to be measured at current interest rates and financial assets to be reclassified. The change in Nanshan Life’s equity reflects higher reserve requirements as interest rates decline and has implications for its capital strength and future earnings.

Nanshan Life said its equity fell by NT$63.1 billion from the end of 2025 following the asset reclassification. However, its contractual service margin, or CSM, has accumulated to nearly NT$380 billion, with a target of adding NT$60 billion in 2026. The company reported 2025 earnings per share of NT$1.97, while profit in the first two months of 2026 rose nearly 40% from a year earlier.