The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

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. Founded in 1963, Nan Shan is being sold virtually wholesale by AIG to the US firm’s preferred bidders: a partnership that brings together the battery-maker, China Strategic Holding (CSH), and a Hong Kong-based private equity firm, Primus Financial Holdings.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree