Taiwan: Regulator monitors insurance sector's exposure to China and the US
Source: Asia Insurance Review | Jun 2019
The exposure of the Taiwanese insurance sector to China and the US has exceeded NT$268trn ($8.6bn), prompting the Financial Supervisory Commission (FSC) to watch more carefully the rising trade tension between the two countries.
On 10 May, the US administration increased tariffs on $200bn of Chinese imports to 25% from 10%. In response, China has said it will take retaliatory action with effect from 1 June.
Data compiled by the FSC shows that exposure of the local insurance industry to the US already hit NT$6.43trn at the end of the first quarter of this year, reported Central News Agency. Meanwhile, exposure of the insurance sector to China stood at NT$262.2bn. This means a combined exposure of NT$268.63trn ($8.6bn). A