| Legislative： |
Amendments to Articles 17, 20-1, 27, 29, and 36 promulgated via Financial Supervisory Commission Order No. Jin-Guan-Bao-Zong-Zi-11401546221 dated December 31, 2025. |
| Content： |
Article 17
A Taiwan-area insurance enterprise, insurance agent company, insurance broker company, or insurance surveyor company intending to establish a representative office in Mainland Area shall submit the following documents or information to the Competent Authority to apply for approval:
1. An application form;
2. Minutes of the board resolution, or the consent of all directors in the absence of a board of directors;
3. Financial statements audited and certified by a certified public accountant (CPA) for the last three (3) years;
4. Name of the proposed representative; and
5. Such other information or documents as may be required by the Competent Authority.
The proposed representative of the insurance enterprise should have good moral character and professional leadership ability, and is free of the situations set forth in Article 3 of the Regulations Governing Qualification Requirement and Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of Insurance Enterprises.
Article 20-1
A Taiwan-area insurance enterprise that meets the following requirements may apply to the Competent Authority for approval to establish a branch or subsidiary in Mainland Area:
1.The enterprise has shown sound operational performance and secure financial capacity in the three years prior to application;
2. The enterprise’s ratio of capital resources to risk capital in the most recent period is at least 1.25 times the statutory standard for adequate capital as specified in Subparagraph 1, Paragraph 2, Article 143-4 of the Insurance Act, and the classification of capital after deducting the amount of the investment applied for meets the terms of adequate capital as specified in Subparagraph 1, Paragraph 2, Article 143-4 of the Insurance Act;
3. The enterprise has not been subject to any sanction imposed by the Competent Authority in the three years prior to application, or has been subject to sanction but specific remedial actions have been taken therefor and accepted by the Competent Authority;
4. The enterprise is free of the record of deficiency in the implementation of risk management in the past year prior to application or there has been the record of deficiency but specific remedial actions have been taken therefor and accepted by the Competent Authority;
5. The enterprise has sound internal control systems in place; and
6. There are no other facts indicating that the sound business operations of the enterprise are likely to be adversely affected.
Articles 22 to 26 and Article 34 shall apply mutatis mutandis with respect to required documents and business management when a Taiwan-area insurance enterprise applies to the Competent Authority for approval to establish a branch or subsidiary in Mainland Area.
Article 27
A Taiwan-area insurance enterprise that meets the following requirements may apply to the Competent Authority for approval to make equity investment in an insurance enterprise in Mainland Area or a foreign-invested insurance enterprise as defined in Mainland Area:
1. The enterprise has shown sound operational performance and secure financial capacity in the three years prior to application;
2. The enterprise’s classification of capital after deducting the amount of the planned investment applied for meets the terms of adequate capital as specified in Subparagraph 1, Paragraph 2, Article 143-4 of the Insurance Act;
3. The enterprise has not been subject to any sanction imposed by the Competent Authority in the three years prior to application, or has been subject to sanction but specific remedial actions have been taken therefor and accepted by the Competent Authority;
4. The enterprise is free of the record of deficiency in the implementation of risk management in the past year prior to application or there has been the record of deficiency but specific remedial actions have been taken therefor and accepted by the Competent Authority;
5. The enterprise has sound internal control systems in place; and
6. There are no other facts indicating that the sound business operations of the enterprise are likely to be adversely affected.
Article 29
Unless it is otherwise provided by the Competent Authority, a Taiwan-area insurance agent company, insurance broker company, or insurance surveyor company intending to make equity investment in Mainland Area shall submit the following documents to the Competent Authority for approval:
1. An application form.
2. An investment plan that includes the following particulars:
(1) An investment plan, including the strategic objectives of investment, expected benefits, sources of funds, fund utilization plan, and fund recovery plan;
(2) Principles for business operation, including the location, capital, operations, business items and business strategies of the invested company.
(3) The shareholder structure, organizational structure and functions, and manpower of the invested company.
(4) Financial projections of the invested company for the coming three years.
(5) Risk assessment, including assessment of operational risk and concrete risk control/management plan.
3. Minutes of the board resolution, or the consent of all directors in the absence of a board of directors.
4. CPA-audited or reviewed financial report for the latest period.
5. Details of domestic and foreign investees on the date of application.
6. An equity investment agreement which should show that the financial and business information of the invested company will be made available and the strategic objective of the investment will be performed.
7. The list of persons to be assigned as director, supervisor or manager of the invested company.
8. Such other information or documents as may be required by the Competent Authority.
The persons to be assigned as director, supervisor or manager by the insurance enterprise as mentioned in subparagraph 7 of the preceding paragraph shall meet the qualification requirements set forth in the Regulations Governing Qualification Requirement and Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of Insurance Enterprises.
Article 36
A Mainland-area insurance enterprise or Mainland-funded insurance enterprise intending to establish a representative office in Taiwan Area shall submit the following documents to the Competent Authority for approval:
1. An application form;
2. A feasibility study;
3. A self-assessment regarding the enterprise’s compliance with laws and regulations and the integrity of its business operations;
4. The curriculum vitae of the proposed representative in Taiwan Area and relevant support documents;
5. A document issued by the insurance authority at the place of registration approving the establishment of a representative office in Taiwan Area;
6. Minutes of the board resolution approving the filing of an application to establish a representative office in Taiwan Area; and
7. Such other information or documents as may be required by the Competent Authority.
The proposed representative mentioned in the preceding paragraph should have good moral character and professional leadership ability, and is free of the situations set forth in Article 3 of the Regulations Governing Qualification Requirement and Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of Insurance Enterprises.
Documents mentioned in subparagraphs 4 to 6 in paragraph 1 hereof shall be certified by a notary public or a notarization institution at the enterprise’s place of registration. In addition, documents produced in a third area must be authenticated by a ROC embassy or consulate, representative office, office and/or other agency authorized by the Ministry of Foreign Affairs (collectively referred to as “Overseas Mission” hereunder); documents produced in Mainland Area must be authenticated or verified by an institution set up or designated, or by a private organization entrusted by the Executive Yuan.
All documents referred to in paragraph 1 hereof must be attached with a traditional Chinese counterpart. |