Taiwan’s Insurance Bureau calls for China investment risk report

The regulator urged life insurers to report back risks related to the growing instability of China’s financial market.

Taiwan’s Insurance Bureau, a division of the Financial Supervisory Commission (FSC), has called on life insurance companies to swiftly provide reports on their present statuses and evaluate risks linked to the escalating instability in China's financial markets, reported by Bloomberg.

According to sources familiar with the situation cited by Bloomberg, the Insurance Bureau set a deadline for life insurers to respond, urging them to furnish analyses and possible strategies in response to potential consequences for their investments in mainland China.

ALSO READ: Lloyd’s of London trump insurers in rate hikes, Taiwan concerns linger

The sources, who wished to remain anonymous due to the confidentiality of the information, also revealed that the companies were instructed to gauge the market repercussions of the recent credit rating downgrade of the United States.

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