Zurich officially pulls out of TaiwanJanuary 16 2018 by InsuranceAsia News Staff
Zurich has officially withdrawn from the Taiwanese market.
On Monday of last week, the Switzerland-based insurer dissolved its local life insurance business in Taiwan called Zurich International Life Taiwan Branch.
The move to close down the firm came after the company sold its non-life-insurance assets in Taiwan to Hotai Motor Co back in 2016.
According to the Financial Supervisory Commission, no disputes were found among the insurer and its customers since all effective policies already matured on December 22 of last year.
- March 6
As insurers reach the implementation phase of IFRS 17 there is plenty of work ahead.
- February 28
Insurance Council of Australia chief executive Rob Whelan warns of need for balance to reforms.
- February 27
Insurance firms will need to set up offices in Labuan to benefit from its 3% tax rate.
- February 25
The Chinese government has yet to find an investor for the insurance giant.