AXA lost a battle in Taiwan

The Taiwanese supervisory authorities denied license to the French insurer AXA, which was planning the opening of a life insurance subsidiary there. The French group’s past ups and downs were behind this refusal. After being first introduced in the market in 2000, AXA withdrew in 2001 following the resale of its activity to the Dutch Aegon. The group went back there shortly in 2006 following the acquisition of Winterthur but had immediately ceded its activity to China Life. Local authorities think that the documents that have been recently exposed to it do not guarantee any long-term involvement of AXA.