The Financial Supervisory Commission (FSC) yesterday said that it would review US-based health service provider Cigna Corp’s sale of its life insurance business to US insurer Chubb Ltd to safeguard Cigna’s local employees and clients.
Cigna Corp’s local unit, Cigna Taiwan Life Assurance Co Ltd (國際康健人壽), had 340,000 policyholders and 902 employees as of the end of June, and its total assets were NT$40.7 billion (US$1.45 billion) as of the end of August, the commission said yesterday.
Cigna Taiwan had operated a stable business since it was launched in 1989 and it distributed cash dividends regularly, it said.
Chubb on Thursday announced that