An amendment to the Insurance Act has been passed by the Legislative Yuan in Taiwan, which now makes non-investment foreign currency life insurance policies exempt from an existing quota for foreign investments imposed on insurers. Under the regulations that were in place, insurers had not previously been permitted to place more than 45 percent of their investments of their total funds into assets that are foreign-denominated. Insurance companies are now permitted by the Financial Supervisory Committee (FSC) to sell non-investment foreign currency life insurance policies without subjecting those policies’ funds…
Read MoreTag: china life insurance industry
HSBC EXPANDS INSURANCE BUSINESS INTO BEIJING
HSBC Life Insurance Company Limited (HSBC Life), a 50:50 joint venture between HSBC Insurance (Asia) Limited and Beijing-based The National Trust Limited, marked the official launch of its insurance operations in Beijing in a ceremony held today after receiving a licence to offer HSBC insurance products in the city recently. HSBC Life has been operating in Shanghai since August 2009. HSBC’s expanded insurance presence in China will enable HSBC and Hang Seng Bank customers across a combined 14 outlets in Beijing to access a comprehensive range of HSBC insurance solutions…
Read More