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The expansionist era is over for Taiwan’s $1.1 trillion life insurance industry after the steepest Federal Reserve interest hikes in 40 years pushed it to the brink of a liquidity crisis. Over the past year, local regulators have repeatedly loosened operating rules after a cocktail of unrealized investment losses, falling… ....
US Interest Rate Hikes Haunt Taiwan's $1 Trillion Life Insurance Industry bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Cathay Life Insurance Co (國泰人壽) expects interest payments from Russia to be late, as Moscow is planning a new payment method and negotiating with custodian banks and international entities such as Brussels-based Euroclear, the company said yesterday. Many agencies have been involved in the negotiations, and some need to reconfirm the identities of the recipients, Cathay Life executive vice president Lin Chao-ting (林昭廷) said by telephone. “We expect to receive the payment in rubles,” Lin said. “We would not risk foreign-exchange losses, because the ruble has recently appreciated against the US dollar,” he added. Russia is willing to make the payments, but cannot ....
HARD PRESSED: Holders of Russian debt might be in for a longer wait as Moscow on Monday defaulted on its foreign debt for the first time in a centuryBy Kao Shih-ching / Staff reporter ....