Press Release
FSC imposes sanctions on Cathay Life Insurance Co., Ltd.
2020-02-18
In a routine examination of Cathay Life''s business operations in 2018, the FSC discovered that the insurer had violated insurance legislation in: (a) its handling of a customer complaint regarding improper solicitation by a Cathay Life solicitor; (b) its management of strategic investments; and (c) its handling of insurance purchases by legal persons. The FSC therefore imposed a fine of NT$5.6 million and issued 6 reprimands against the company in accordance with Paragraph 1, Article 149, and Paragraph 5, Article 171-1 of the Insurance Act, and Article 81 of the Act Governing Relations between the People of the Taiwan Area and the Mainland Area.
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- Update: 2020-07-03