Focus Taiwan
Date: 2016/06/25
By: Tsai Yi-chu and Frances Huang
Taipei, June 25 (CNA) Taiwanese insurance firms held the majority of exposure to the
So far, Taiwan-based insurers’ exposure to the U.K. has hit about NT$784.3 billion (US$23.20 billion), including NT$122.9 billion denominated in British pounds, the FSC said.
The NT$784.3 billion in exposure extended by the local insurance segment represented the majority of the total exposure — worth NT$1.1 trillion — made by the entire financial sector in Taiwan to the U.K. market.
The FSC, the country’s top financial regulator, disclosed the figure at a time when worries have been running deeper following the results of a referendum held by the U.K. to leave the European Union, which is expected to create chaos in global financial markets and plunge the value of the British pound. [FULL STORY]