2003-03-03

INSURANCE COMPANIES NOW PERMITTED TO PURCHASE PRIVATE PLACEMENT SECURITIES

Taiwan’s Ministry of Finance recently announced that insurance companies will be permitted to invest in publicly issued private placement securities. This move is hoped to increase the flexibility of and profit from funds utilization. Such investments, however, will be limited to five percent of the insurance company’s capitalization, and the same must be authorized by a resolution passed by the insurance company’s board of directors.

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