Cathay Financial Holding Co.’s 1Q19 net book value rised by NTD131.8bn

Cathay Financial Holding Co.'s 1Q19 net profit was NTD13.6bn with EPS of NTD1.05.
Cathay Financial Holding Co.'s 1Q19 net profit was NTD13.6bn with EPS of NTD1.05.

Cathay Financial Holding Co. (2882-TW) held an investors conference today on May 20th. Due to the impact of the stock market crash in 4Q18, its subsidiary Cathay Life Insurance’s FY19 EV decreased by nearly 5% YoY. However, catalyzed by the capital market return, Cathay Financial Holding Co.’s 1Q19 net book value rebounded by NTD131.8bn. The Cathay Life Insurance’s net book value increased by NTD120bn.

Due to a higher comparison base in 1Q18, Cathay Financial Holding Co.'s 1Q19 net profit decreased by 42% YoY to NTD13.6bn with EPS of NTD1.05. Cathay Life Insurance's 1Q19 net profit fell sharply YoY and decreased from NTD16.7bn to NTD6.4bn.

However, Cathay Financial vice president Teng Chung-yi told that the company will continue to strengthen the value-oriented strategy. The company’s FYP of protection products grew by about 70% and its FYPE ranked first in the industry. Moreover, the cost of debts continued to improve and drop to 4.02%.


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