Magazine date:
Feb 2010 The Financial Supervisory Commission has authorized BNP Paribas Assurance to establish a life insurance joint venture in partnership with Taiwan Cooperative Bank. This entity will become the island's thirty-second life insurance company. BNP Paribas Assurance will have control over 49% of shares while the national company will control 51%. Endowed with a capital of 63 million USD, the new company plans to level off in two or three years. BNP Assurances is already operational in life insurance in Taiwan under the name of Cardif.