Is BNP Paribas Cardif Exiting Taiwan? Chairman Peng Jinlong Advocates for Continued Investment
Recent media reports have circulated rumors that BNP Paribas Cardif is considering selling its insurance subsidiary in Taiwan. In response, Financial Supervisory Commission Chairman Peng Jinlong, who participated in an event today, highlighted the significant investments BNP Paribas has made in Taiwan. He expressed strong hope that BNP Paribas would continue to invest and collaborate in the development of Asia's asset management hub. Rita Huang, the Asian President of BNP Paribas Cardif, resonated with deep affection for Taiwan, describing it as her second home and a key player in the company's global operations.
During a summit called 'Insight into Insurance Trends – Leading the New Mainstream,' held by BNP Paribas Cardif, Chairman Peng Jinlong opened the event asserting the robust potential of Taiwan's market. He specifically mentions the recent government initiative aimed at developing an 'Asian Asset Management Center.' Despite concerns that this could echo past setbacks, he believes Taiwan's financial environment has drastically evolved, offering new visions for growth.
Peng made it a point to share insights from his recent tours to various financial institutions. The enthusiasm for Taiwan's proposal to become an 'Asian Asset Management Center' was palpable among these organizations. Financial entities seemed very optimistic about this directional shift, feeling it could stimulate societal and economic progress.
Chairman Peng lauded the international stature of the BNP Paribas insurance group. He encouraged them to bolster their investments in Taiwan, welcoming all types of financial industries under the greater vision of Taiwan developing into a financial or asset management hub, asking for a collective effort towards this goal.
Rita Huang, during her speech, reflected on the 26-year-long journey of BNP Paribas Cardif in Taiwan. She appreciated the regulatory environment and distribution channels that have been conducive to their business, expressing a desire to continue providing robust protection and services to the Taiwanese people. This she identifies as their ongoing commitment.
Huang stressed that BNP Paribas Cardif ranks among the top in Taiwan in terms of solvency ratios and net worth comparisons. She hoped for opportunities to keep serving the Taiwan market and customers, aligning with local regulatory developments. She envisaged an active, enlarged participation in the Taiwanese insurance market, maintaining their dedication to deep-rooting and innovating within Taiwan.
As we reflect on the assertions made at today's summit, it is clear that both the representatives of BNP Paribas Cardif and the Taiwanese financial authority share a vision for continuous growth and collaboration between the entities. This mutual dedication not only emphasizes the strategic importance of Taiwan in the global market but also strengthens the bonds of financial and cultural exchange.
During a summit called 'Insight into Insurance Trends – Leading the New Mainstream,' held by BNP Paribas Cardif, Chairman Peng Jinlong opened the event asserting the robust potential of Taiwan's market. He specifically mentions the recent government initiative aimed at developing an 'Asian Asset Management Center.' Despite concerns that this could echo past setbacks, he believes Taiwan's financial environment has drastically evolved, offering new visions for growth.
Peng made it a point to share insights from his recent tours to various financial institutions. The enthusiasm for Taiwan's proposal to become an 'Asian Asset Management Center' was palpable among these organizations. Financial entities seemed very optimistic about this directional shift, feeling it could stimulate societal and economic progress.
Chairman Peng lauded the international stature of the BNP Paribas insurance group. He encouraged them to bolster their investments in Taiwan, welcoming all types of financial industries under the greater vision of Taiwan developing into a financial or asset management hub, asking for a collective effort towards this goal.
Rita Huang, during her speech, reflected on the 26-year-long journey of BNP Paribas Cardif in Taiwan. She appreciated the regulatory environment and distribution channels that have been conducive to their business, expressing a desire to continue providing robust protection and services to the Taiwanese people. This she identifies as their ongoing commitment.
Huang stressed that BNP Paribas Cardif ranks among the top in Taiwan in terms of solvency ratios and net worth comparisons. She hoped for opportunities to keep serving the Taiwan market and customers, aligning with local regulatory developments. She envisaged an active, enlarged participation in the Taiwanese insurance market, maintaining their dedication to deep-rooting and innovating within Taiwan.
As we reflect on the assertions made at today's summit, it is clear that both the representatives of BNP Paribas Cardif and the Taiwanese financial authority share a vision for continuous growth and collaboration between the entities. This mutual dedication not only emphasizes the strategic importance of Taiwan in the global market but also strengthens the bonds of financial and cultural exchange.
Last edited at：2024/12/16