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.

There are too many banks and over 200 securities houses in Taiwan, and while there has been much talk of consolidation in recent years, little progress has been made.

However, under the spur of Taiwan joining the World Trade...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222