On debt row
Taiwan's life insurers are again resorting to desperate measures to remain solvent - but the moves only heighten the underlying profitability problems. Does the creation of this latest financial timebomb counter the regulator's hopes of improved risk management in the sector? Toby Garrod investigates
Taiwan's life insurers - already crippled by years of severe negative carry - are being pushed to the limits of survival by the current global economic crisis. Amid the desperation, dubious practices have emerged, heightening systemic risk concerns and prompting some market participants to call for a mass culling of weak institutions. Others, meanwhile, see a lifeline for the industry in improved risk management and expanded use of derivatives.
"Of the 33 life insurance firms in Taiwan, only
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