Taiwan: Rules targeting insurers' risk-based capital ratio approved
Posted On: Sep. 22, 2014 12:00 AM CSTAn amendment to the Insurance Act that targets insurers' minimum risk-based capital ratio has been approved by a government authority, The China Post reported.
The Executive Yuan of Taiwan has passed the amendment, under which firms with a RBC ratio lower than 50% would be acquired by the government.
Tseng Ming-tsung, chairman of Financial Supervisory Commission, said the amendment will help the government in taking actions against weak firms.
It will also allow banks to set up an insurance unit.