Taiwan's Cathay Life to include Capital Securities in new group

Cathay Life''s planned absorption of Capital Securities takes Taiwan''s finance industry consolidation one step further.

Taiwan's biggest life insurance company, Cathay Life Insurance has announced that its board of directors have voted to include Capital Securities into a new financial holding company, Cathay Financial Holding.

This move is an important indication that consolidations in Taiwan's financial sector are now a rising trend, says James von Moltke, head of financial institutions group FIG, Asia Pacific at JPMorgan, which is acting as financial adviser to Cathay Life on the restructuring.

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