Establishment of Taiwan Insurance Guaranty Fund

In order to efficiently integrate the resources of insurance stabilization funds, set up and implement the exit mechanism¸ conduct off-site monitoring, strengthen the early warning system, have a good grasp of the performance of the insurance industry and help the regulator supervise and control the risks of insurance companies in a timely manner, the Fund is set up as an dedicated institution to actively carry out the functions mandated by the Insurance Act. On April 15, 2009, the Fund held its first donors' meeting. The Articles of Taiwan Insurance Guaranty Fund were finalized on May 8, 2009, and the Fund was established on July 3, 2009 accordingly.

Mission

The mission of this Fund is to protect the interests of proposers, insured and beneficiaries, as well as maintain financial stability.

Future Outlook

1.Establish a complete early warning system, help the regulator grasp the performance of the insurance industry, and assist the insurers to manage their operational risk.

2.Develop and implement an exit mechanism for the insurance companies to protect the interests of policyholders and maintain financial stability.

3.Help the insurance industry understand domestic and international financial trends, gain insight to the changes of the business environment and manage business risks.