Beijing fears threaten Taiwan insurance takeover

The proposed sale of Taiwan’s second-largest life insurer to two firms with reported links to the mainland is causing consternation in Taipei. Is this cross-strait paranoia or are locals right to be worried? Elliot Wilson investigates.

TAKE A JITTERY island government fearful of influence by a neighbouring Big Brother state. Then add a dash of spice in the form of a tiny Hong Kong-listed battery-maker with delusions of grandeur, a mob of angry protesters, a former life insurance division of America’s AIG, and a private equity firm with nebulous financial ties to – the island state fears – Beijing. End result? A tale fit for a spy novel, or perhaps a blockbuster thriller.

At the centre of this unfolding story is Nan Shan Life Insurance, Taiwan’s second-largest life insurer, with $46 billion in assets.

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