Regulation Interactive e-book Source: Asia Insurance Review | Mar 2021 Taiwan’s insurers will continue their convergence to global standards to enhance their resilience. The convergence will come in the form of adoption of new accounting rules, migration to a new solvency and the associated changes to product mix, investment strategy and capital requirements, as well as the promotion of sustainable finance, says Fitch Ratings’
In the past few years, Fitch has observed positive regulatory measures that cover products, investments, and capital rules to enhance insurers’ resilience. The Financial Supervisory Commission (FSC) has been tightening regulations to prepare life insurers for the eventual adoption of IFRS17 and migration to a new solvency framework.