Taiwan News

RMS and Taiwan’s MSIG Mingtai Collaborate on Typhoon Risk Insights

RMS, the Newark, Calif.-based catastrophe risk management firm, has formed a technical collaboration with MSIG Mingtai Insurance Co. Ltd. to share industry information and insight about the local Taiwanese insurance market, as RMS develops a typhoon model for Taiwan. The …

UPDATE: Typhoon Soudelor Nears Taiwan; China Next: AccuWeather Report

AccuWeather has reported that “powerful Typhoon Soudelor will bring both flooding rainfall and damaging winds to Taiwan as the storm remains on a collision course with the island.” The report noted that “even though Soudelor has weakened, it remains a …

Taiwan to Pay Life Insurer Transglobe $3 Billion in Record Bailout of Rival

Taiwan’s government will pay Transglobe Life Insurance T$88.4 billion ($3 billion) to take over ailing rival Kuo Hua Life after Transglobe beat out other competitors in the biggest taxpayer-funded bailout ever by the island state. Taiwan’s overcrowded life insurance industry …

Typhoon Tembin Approaching Taiwan: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, Typhoon Tembin, the 14th of the 2012 Pacific season, is “heading slowly for southern Taiwan, and is expected to make landfall in the early morning of Friday, August 24. Its path could, however, …

Typhoons Saola, Damrey Strike, Philippines, Taiwan, China: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, Typhoon Saola, the ninth typhoon of the Northwest Pacific storm season, made its first landfall early Thursday morning local time in Hualien, Taiwan. AIR noted that the storm has since “been downgraded to …

Thai Floods Batter Global Electronics, Auto Supply Chains

 Manufacturers of car parts and computer hard drives are the worst hit in Thailand, and face a bleak key holiday selling season due to massive floods, which have shut down production. Japanese car makers that had just started to recover …

Typhoon Nanmadol Departs Taiwan, Heads for China

Typhoon Nanmadol headed to southeastern China on Monday after dumping more than 20 inches (half a meter) of rain in southern Taiwan, where wide swaths of agricultural land were flooded and some 8,000 people evacuated. The storm skirted Taiwan’s southwestern …

Commission Allows Group to Buy AIG Taiwan Unit

Taiwan’s Financial Supervisory Commission says a local conglomerate has met conditions the commission stipulated in June to purchase AIG’s Taiwanese insurance unit, paving the way for final approval. The Thursday announcement says that Ruen Chen consortium will be allowed to …

Taiwan Conditionally Approves AIG’s Nan Shan Life Sale

Taiwan’s financial regulator gave conditional approval on Thursday to AIG’s $2.2 billion sale of its Nan Shan Life insurance unit, bringing closer to an end an almost two year long sale saga. The U.S. insurer, looking to pay back the …

AIG Urges Taiwan Unit Employees to Support Sale

American International Group Inc. has urged staff at Taiwan unit Nan Shan Life Insurance Co. Ltd to voice their support for its planned $2.16 billion sale, saying their silence has allowed “ill-intentioned groups” to create negative impressions over the much-delayed …