Page 24 - WTW Asia Insurance Market Report
P. 24

AIG and Zurich Scale Down Operations                            through a new Taiwan branch of AIG Asia Pacific Insurance
in Taiwan                                                       Pte Ltd. NSGI will continue to be an AIG network partner
                                                                for consumer multinational clients.
AIG successfully completed the sale of AIG Taiwan
Insurance Co. Ltd.’s consumer and SME Nan           In June 2016, it was announced that Zurich Insurance
Shan Life Insurance Co., Ltd. (Nan Shan) on 1 September         would be selling its general insurance operations in Taiwan
2016. The company has been renamed Nan Shan General             to the Hotai Group, subject to approvals and conditions
Insurance (NSGI). AIG will continue to support multinational    from the supervisory regulator. Zurich’s decision to sell
and commercial insurance business in Taiwan, including          its general insurance business in Taiwan was due to the
property, casualty, financial lines, marine, and trade credit,  limited scope for its general insurance business to achieve
                                                                an operating scale that warranted continued investment.

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