Taiwan's financial regulator is applying stricter standards to the sales of domestic insurers by their foreign parent companies after three European financial institutions unexpectedly sold their Taiwan units between 2008 and 2009.
Though the global financial crisis was one of the main reasons behind the pullouts, which began with Netherlands-based ING Group in October 2008, the exodus has cast a shadow over Taiwan's insurance sector and alarmed the Financial Supervisory Commission (FSC).
http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?ID=201012070010&Type=aMAG
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Can you blame them in all honesty? The Asian market has been the first market, particularly Taiwan, Japan and South Korea, that has been cut back on by insurance companies downsizing or bailed out by their national governments. Again this all comes down to building up national companies and giving them an advantage on the international stage, the AIG vacuum is having so many ripple effects it’s beginning to be hard to keep track of them.
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