TAIWAN SEEKS TO REVIVE OVERSEAS INVESTMENT BILL

Taiwan’s cabinet is seeking to resuscitate a bill that would ease the restrictions on foreign investment by local insurers. The legislature’s finance committee blocked the bill last week, claiming that it was concerned at the ability of the regulator to supervise investments overseas. Under the legislation, local insurers would be able to invest as much as 50% of their assets abroad, up from the current 35%. Insurance bureau deputy director-general Chen Wei-lung said yesterday that the regulator would review the way that it supervises investments and that it was willing to compromise on a ceiling of 40%.