BankTaiwan Life Insurance (BTLI) achieved gross premiums of NT$4,256 million, or 130.51% of its annual budget target. However, BTLI suffered negative margins and foreign exchange losses due to the sharp appreciation of the NT Dollar versus the US Dollar and mainland China's Renminbi, as well as a continued climb in the cost of foreign exchange hedging. These factors resulted in an after-tax loss of NT$3,034 million. In order to improve its business operations, BTLI has drawn up measures to rework its product mix, control foreign exchange gains and losses, and improve capital allocations. In addition, BTLI has continuously improved its professional services, with its 13- and 25-month persistency rates both remaining above 98.9%, still the highest in the industry.