Social media behemoth Facebook officially opened its new Taiwan headquarters on the 35th floor of Nan Shan
Plaza in Taipei's Xinyi District on Thursday (April 11).
The sale was concluded to Nan Shan
Life Insurance Co Ltd (Nan Shan
) after the deal was originally announced in June 2015.
In both sectors, the same three insurers, Cathay, Fubon and Nan Shan
, control around 50% of gross premiums.
Cathay Life posted the highest FYP revenues in November with NT$15.9 billion (US$530 million), followed by Nan Shan
Life and Fubon Life Insurance with NT$13.3 billion (US$443.33 million) and NT$10.4 billion (US$346.67 million), respectively.
That $2 billion came from the sale of Nan Shan
, its Taiwan-based life insurance company, to Ruen Chen Investment Holding Co.
Taiwana[euro](tm)s financial supervisory commission (FSC) on Thursday gave its final approval to the USD2.2bn (EUR1.55bn) acquisition of US insurer AIGa[euro](tm)s (NYSE:AIG) local unit Nan Shan
by Ruen Chen group, after the buyer had met all imposed conditions.
The group has also been asked to keep TWD30bn in cash or assets in a custodian account for the next 10 years and put its entire stake in the unit, Nan Shan
Life, in trust for 10 years.
BANKING AND CREDIT NEWS-September 14, 2010--Fitch puts Nan Shan
Life's rating on "negative" watch(C)2010 M2 COMMUNICATIONS http://www.m2.com
Wang Shih-jung, a 71-year old policyholder of AIG's Nan Shan
unit and a former trade representative for Taiwan in Switzerland, told Reuters he has set up a company to make a bid if an existing $2.2 billion bid from a China-based firm is rejected by Taiwan regulators.
TAIPEI: American International Group Inc (AIG) (AIG.N) said on Tuesday it was confident of getting the regulatory nod for its $2.2 billion sale of Taiwan unit Nan Shan
Life to a group led by China Strategic (0235.HK) and had no plans to sell the asset to any other party.