Taiwan Life’s Losses Double in May on Currency Rally Hit (2)

Taiwan Life Insurance Co.’s losses more than doubled in May from a month earlier as the local currency’s rally against the US dollar pummeled its foreign investments.

The insurer posted a loss of NT$2.83 billion ($94.5 million) in May, compared with a NT$1.32 billion loss in April, parent CTBC Financial Holding Co. said in a statement.

The result bodes poorly ahead of the release of results by other major life insurers, likely by the end of Tuesday. The Taiwan dollar spiked about 7% in May — mostly over two days at the start of the month. That heaped pressure ...