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Hontai Life Insurance Co., Ltd. was fined

2019-04-10
When investing in real estate in Taichung City, Hontai Life Insurance Co., Ltd. did not follow the submitted sales plan and was thus in violation of the Insurance Act. The FSC imposed a fine of NT$1 million on the insurer in accordance with Subparagraph 3 of Paragraph 5 of Article 168 of the Insurance Act, and issued one reprimand in accordance with Paragraph 1 of Article 149 of the same act. The insurer was also ordered to dispose of or lease out the real estate involved in this case to meet the requirements regarding immediate use within one year.
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  • Update: 2019-06-18
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