The CISFC delegation visited Taiwan on May 11-15, 2015 and investigated the construction and takeover practices of the market exit mechanism for the insurance industry. The delegation visited Taiwan Insurance Guaranty Fund and Taiwan Insurance Institute, held an interview with related officials and professionals of these two institutions, and listened to their briefings about the construction of the market exit mechanism for the insurance industry in the region, including legal system, warning mechanism, data analysis, system building and other aspects. The hosts presented the takeover process, takeover organization, takeover content and sale, and liquidation relating to three life insurance companies and two property insurers. The delegation exchanged views in depth with these two institutions regarding takeover, warning and other key issues, got some fresh understandings while obtained some important information and data.
 
Outcome of this visit will be a good reference for the amendment of the Insurance Law, the drafting of the Takeover Measures and the preparation of the Takeover Manual. CISFC can moderately introduce the systematic and practice experience of Taiwan Region in respect of legal system, organizational arrangement, concrete flow, key point of implementation and other aspects to cement the legal foundation for the insurance company takeover in the Mainland, increase the takeover efficiency, strengthen the reserve of professionals and carry forward the establishment of a regulator-guided takeover mechanism with market orientation and professionalism.
 

Mr. Chen Zhili, Former Chairman of CISFC, Presents A Gift to Taiwan Insurance Guaranty Fund

Former President of Taiwan Insurance Guaranty Fund Presents A Gift to CISFC

Group Photo of CISFC Delegation and Taiwan Insurance Guaranty Fund Delegation