Taiwan News

The Commissioners

Hawaii:Perfectly poised for insurers in the Pacific Rim Although it is undeniably one of the 50 United States, Hawaii’s location at the edge of the Pacific Rim yields creative business opportunities throughout the world. The state’s captive insurer law already …

J.P. Schmidt, Hawaii, Insurance Commissioner

Although it is undeniably one of the 50 United States, Hawaii’s location at the edge of the Pacific Rim yields creative business opportunities throughout the world. The state’s captive insurer law already has reaped dividends, and Hawaii’s port of entry …

CIGNA Extends International Health Care Service Links

CIGNA International has extended its expatriate benefit service through the expansion of its “CIGNALinks(R)” chain to Hong Kong, China, Taiwan, Spain and five countries in the Middle East – the Kingdom of Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, …

Benfield Opens Taiwan Branch Office

Benfield, the independent reinsurance and risk intermediary, announced the opening of a new branch office in Taipei, Taiwan, “to service its growing customer base in the territory and to further enhance its presence in Greater China.” Jentzu Pan has been …

Guy Carpenter Opens Taipei Office

Guy Carpenter & Company, Inc., the global risk and reinsurance specialist of the Marsh & McLennan Companies, announced that it has opened a new office in Taipei, Taiwan, “enhancing its leading position in the Asia Pacific region.” The bulletin also …

China Evacuates 433,000 Before Storm

More than 433,000 people have been evacuated from parts of China’s southeastern coast that are due to be hit by Typhoon Saomai, a government news agency reported Thursday Saomai was expected to hit the mainland on Thursday in Fujian and …

AIG Reports 29% Decline in 2d Quarter Net Income

Second quarter income for American International Group, Inc. (AIG) dropped 29 percent to $3.19 billion or $1.21 per diluted share, compared to $4.49 billion or $1.71 per diluted share in the second quarter of 2005. Second quarter 2006 adjusted net …

AIG Completes Acquisition of Taiwan’s Central Insurance

American International Group has completed its previously announced acquisition of 100 per cent of the common shares of Central Insurance Co., Ltd. in Taiwan, effective August 1, 2006. “Central Insurance, established in 1962, is a leading general insurance company in …

Outlook For China’s Insurance Sector Now Positive

Standard & Poor’s Ratings Services revised its outlook on China’s insurance sector to positive from developing to reflect expectations that the financial strength of the overall industry will improve over the medium term. In a new publication titled “China Insurance …

Taiwan May Relax Investment Rules to Compete with China

The Taiwan government may allow a number of companies to invest more in rival China but will not grant an overall relaxation of its investment restrictions, a senior government official said. Taiwan plans to hold a two-day economic forum in …