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Article NO. Content

Title:

Offshore Banking Act  CH

Amended Date: 2016.12.28 
Article 22-13 An offshore insurance branch may only conduct the following types of business:
1.The following types of foreign currency denominated insurance business:
(1) Personal insurance business where the applicant is a natural person, a juristic person, a government agency, or a financial institution outside the territory of the ROC and the insured is a natural person outside the territory of the ROC.
(2) Non-life insurance business where the applicant is a natural person, a juristic person, a government agency, or a financial institution outside the territory of the ROC and the subject matter insured is not a real property situated within the territory of the ROC.
2.Foreign currency denominated reinsurance business with insurance enterprises outside the territory of the ROC.
3.Other foreign currency denominated insurance-related businesses serving natural persons, juristic persons, government agencies, or financial institutions outside the territory of the ROC and approved by the competent authorities.
When an offshore insurance branch conducts the business mentioned in the preceding paragraph, it may not conduct concurrently non-life insurance and life insurance businesses, except where its head office is a non-life insurance enterprise that has been approved by the FSC to engage in injury insurance and health insurance.