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Taiwan: Insurers with insufficient financial strength to be forced to exit market

August 6, 2014 - 6:00am


Taiwan's Financial Supervisory Commission is looking to make changes in the insurance laws that will force insurers with inadequate financial strength to leave the sector if they fail to make immediate improvements, reports Asia Insurance Review citing the China Post.

The proposal is likely to obtain the required government approvals before the end of 2014.

FSC chairman Tseng Ming-chung said risk-based capital for domestic insurers will face more stringent standards.

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