Taiwan’s financial regulator has reportedly asked local insurers to urgently review their positions and risks related to Chinese markets, amid an ongoing downturn in the mainland.
The Financial Supervisory Commission of Taiwan’s Insurance Bureau has asked local life insurance companies to report on China-related risks, according to a «Bloomberg» report citing unnamed sources. They specifically asked for reporting on current positions, analysis as well as countermeasures to potential impact on mainland investments.
In addition, the insurers were also asked about the market impact from the recent US downgrade.
A growing number of regulators worldwide are placing increasing focus on risks linked to China. Japan’s Financial Services Agency reportedly spoke to top domestic lenders in May about related risks, especially with regards to geopolitical tensions and potential US sanctions over the issue of Taiwan’s political status.
