Date
19 October 2017

Taiwan FSC vows to help insurers expand overseas, paper says

Taiwan’s Financial Supervisory Commission (FSC) has drafted a revised version of the insurance law to exclude insurers’ overseas acquisitions, including the purchase of stakes in mainland banks, from the current cap on outbound investments, the Economic Daily News reported Wednesday, citing an unnamed senior official of the regulatory body. In a meeting with officials of 16 local insurers on Tuesday, FSC chairman Tseng Ming-chung also promised to keep their quota of exposure in the mainland market for at least one more year, the report said. But insurers should not focus solely on the mainland for their overseas expansion, Tseng was quoted as saying.

– Contact HKEJ [email protected]

TL/AC/CG

 

 

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