Central Reinsurance Corporation, Taiwan

The former state-owned reinsurer, with the support of its new majority shareholder the Evergreen marine transport conglomerate, increased its paid up capital by TAD800mn in 2005 to keep pace with the rapid changes in its domestic market

The Central Reinsurance Corporation of Taiwan (Central Re), the former Taiwanese state owned reinsurer, in marked contrast to its peers in the US and Europe, had a fairly untraumatic year in 2005. Indeed, the company increased its net income by 62.2% from TAD398.6mn in 2004 to TAD646.5mn in 2005.