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The New Avian Influenza

The most recent reports from China confirm that over 60 people have been diagnosed with bird flu, and 13 have died. So far, there are no cases of the disease being passed from one human to another - all of those people infected contracted the disease directly…

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Chinatrust Financial Seal MetLife Taiwan Deal

Chinatrust Financial Co. Ltd, Taiwan's third-largest financial services provider by assets, has agreed to purchase US-based MetLife Inc's Taiwanese life insurance unit for US$180 million. With the acquisition of MetLife Taiwan, Chinatrust will finally be able to enter the life insurance market it has long coveted. The…

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Taiwanese Regulators Reject Sale of AIG Unit to Primus

The Financial Supervisory Commission (FSC) of Taiwan has recently announced it has rejected the planned purchase of the life insurance unit of AIG in Taiwan by Primus Financial Holdings Ltd. It is believed the FSC had concerns about Primus, which is based in the Cayman Islands, may be backed by funds from mainland China, thus in violation of the Taiwan law that prohibits Chinese investment in the financial sector.

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Purchaser of Nan Shan Agrees to Escrow Funds Request by AIG

The buyers of Nan Shan Life Insurance, the Taiwanese life insurance unit of AIG, have agreed to amend their purchase agreement to include a escrow funds clause, in order to strengthen the bid for regulatory approval of the transaction.

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BNP Paribas Expands into Taiwanese Life Insurance market

Despite numerous foreign life insurance companies having left Taiwan in 2009, French financial services company, BNP Paribas, sees potential for growth in the mature Taiwanese life insurance markets with its bancassurance partnership with Taiwan Cooperative Bank. BNP Paribas initiated a life insurance joint venture company in April 2010, with the nation's largest provider of housing loans, Taiwan…

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