First Financial Life Announces Impact of First-time Adoption of IFRS 17
First Life Insurance announced its first-time adoption of International Financial Reporting Standard 17 (IFRS 17). The initial application resulted in an increase in shareholder equity of approximately NT$2.2 billion, followed by a decrease of about NT$3.2 billion due to reclassification to the foreign exchange reserve.
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- 📰 Published: April 30, 2026 at 09:00
- 🔍 Collected: May 1, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 1, 2026 at 11:33 (3h 33m after Collected)
1. Date of Occurrence: 115/04/30
2. Company Name: First Financial Life Insurance Co., Ltd.
3. Relationship with the Company (Enter 'Parent Company' or 'Subsidiary'): Subsidiary
4. Proportion of Interlocking Shareholdings: 100%
5. Reason for Occurrence: Announcement on behalf of subsidiary First Financial Life regarding the impact of first-time adoption of International Financial Reporting Standard 17.
6. Response Measures: None
7. Other Matters to be Noted (If the subject of the event or resolution is a public offering company or above, this major information also meets the requirements of Article 7, Paragraph 9 of the Securities Transaction Law regarding matters that have a significant impact on shareholder equity or securities prices):
First Financial Life Insurance, in accordance with IFRS 17 regulations, measured insurance and reinsurance contracts and reclassified financial assets, resulting in an increase in shareholder equity of approximately NT$2.2 billion. Subsequently, after the favorable impact of the first-time adoption of IFRS 17 was transferred to the foreign exchange fluctuation reserve, shareholder equity decreased by approximately NT$3.2 billion.
2. Company Name: First Financial Life Insurance Co., Ltd.
3. Relationship with the Company (Enter 'Parent Company' or 'Subsidiary'): Subsidiary
4. Proportion of Interlocking Shareholdings: 100%
5. Reason for Occurrence: Announcement on behalf of subsidiary First Financial Life regarding the impact of first-time adoption of International Financial Reporting Standard 17.
6. Response Measures: None
7. Other Matters to be Noted (If the subject of the event or resolution is a public offering company or above, this major information also meets the requirements of Article 7, Paragraph 9 of the Securities Transaction Law regarding matters that have a significant impact on shareholder equity or securities prices):
First Financial Life Insurance, in accordance with IFRS 17 regulations, measured insurance and reinsurance contracts and reclassified financial assets, resulting in an increase in shareholder equity of approximately NT$2.2 billion. Subsequently, after the favorable impact of the first-time adoption of IFRS 17 was transferred to the foreign exchange fluctuation reserve, shareholder equity decreased by approximately NT$3.2 billion.