Taiwan’s Financial Supervisory Commission (FSC) has agreed to revise its regulations to let domestic insurers buy stakes in their foreign peers operating on the mainland, the Economic Daily News reported Monday, citing an unnamed commission official. The FSC will also pass on suggestions from insurers to the China Insurance Regulatory Commission about reusing renminbi when they meet this week, the report said. Insurers’ stakes in those foreign peers will be capped at 50 percent. However, those foreign insurers are still not allowed to set up branches on the island, the report said, citing the official.
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