Newsletter
FOREIGN INSURERS APPLY TO SET UP SUBSIDIARIES IN TAIWAN
On 13 December 1999, the Department of In-surance announced that in 1999, two foreign insurance companies applied to establish sub-sidiaries in Taiwan. This is the first time foreign insurance companies have applied to use sub-sidiaries as their vehicle for conducting insur-ance business in Taiwan. At present, all foreign insurers active in Taiwan are established as branch offices. It is generally surmised that the motive for setting up subsidiaries is that in the future they will be able to acquire local insurance companies, and invest in real estate in Taiwan.