Taiwan’s biggest life insurance company plans to shift over NT$7 trillion ($228 billion) in investment mandates to its parent group’s asset management arm as part of a push to make the island’s money management industry regionally competitive.
Cathay Life Insurance will “gradually” mandate all of its assets to be managed by Cathay Securities Investment Trust, the asset management branch of its parent company, group President Lee Chang-ken said in an interview with Bloomberg Television Wednesday. The strategy will allow the group’s asset management business to “become sizable in the region,” he added.
Taiwan’s Cathay Life to Mandate Billions to Asset Management Arm
