April 27, 2017 7:10 AM ET

Insurance

Company Overview of Cathay Life Insurance Co., Ltd.

Company Overview

Cathay Life Insurance Co., Ltd. operates as an insurance company in Taiwan and internationally. It primarily provides life, accident, health, and annuity insurance products. The company was founded in 1962 and is based in Taipei, Taiwan. Cathay Life Insurance Co., Ltd. is a subsidiary of Cathay Financial Holding Co., Ltd.

No. 296, Ren-Ai Road

Sec. 4

Taipei,  106

Taiwan

Founded in 1962

Phone:

886 2 2755 1399

Fax:

886 2 2704 1485

Key Executives for Cathay Life Insurance Co., Ltd.

President and Director
Age: 64
Financial Officer
Chief Representative of Greater China and Director
Age: 64
Senior Vice President and Director
Chief Risk Officer and Executive Vice President
Compensation as of Fiscal Year 2016.

Cathay Life Insurance Co., Ltd. Key Developments

Scotiabank Reportedly In Talks To Sell Malaysian Unit

The Globe and Mail reports that The Bank of Nova Scotia (TSX:BNS) is in talks to sell The Bank of Nova Scotia Berhad The Globe's James Bradshaw writes that Scotiabank has entered exclusive negotiations to sell 100% of Nova Scotia Berhad with Cathay Life Insurance Co., Ltd. And Cathay United Bank Co., Ltd. The proposed sale, which was disclosed in a filing with the Taiwan Stock Exchange, is still subject to due diligence and approvals from Malaysian and Taiwanese regulators, and the window of exclusivity expires on April 30.

Cathay Life Reports Unaudited Earnings Results for the Month and Year Ended December 2016

Cathay Life reported unaudited earnings results for the month and year ended December 2016. For the month, the company reported pre-tax loss of TWD 2.12 billion and after tax profit of TWD 1.33 billion. For the year, the company reported pre-tax profit of TWD 28.34 billion and after tax profit of TWD 30.30 billion. EPS (after tax) was TWD 5.69. Accumulated EPS as of the end of December (excluding foreign exchange valuation reserve) was TWD 4.73. Accumulated EPS as of the end of December (excluding recovered special reserve - the net increase in fair value of investment property) was TWD 3.81.

Cathay Financial Holding Co., Ltd. Announces Board Changes, Effective November 25, 2016

Cathay Financial Holding Co., Ltd. announced that Han-Chang Tsai, Senior Executive Vice President of Cathay Life Insurance Co., Ltd. replaced Yi-Tsung Wang, Senior Executive Vice President of Cathay Life Insurance Co., Ltd. as Director. The effective date is November 25, 2016.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 8, 2017
1,015 Square Meters of Land in Subsection 3, Section Chang-Chun, Zhong-Shan District, Taipei City
Merger/Acquisition
October 18, 2016
PT Bank Mayapada Internasional Tbk
Fund Raising
August 1, 2016
Macquarie European Infrastructure Fund 5 LP
 

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