Cathay Life eyes capital raise ahead of regulatory changes
More insurers in Taiwan will likely follow suit in the coming years to prepare themselves for a more stringent regulatory environment.
Cathay Life wants to beef up its capital base to better cope with choppy investment markets, which is a happy coincidence given the desire of Taiwanese regulators to improve local capital adequacy and accounting standards.
Company managers declined to respond directly when asked in an analysts’ meeting on Thursday if parent Cathay Financial Holdings's plan to replenish its capital by NT$20 billion ($637 million) by issuing stock was in response to looming new rules.
Cathay Unit…
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