Article 146 of the Insurance Act ("IA") sets limits on
funding allocations of an insurance company, though its funds may
be allocated to "insurance-related businesses." To
maintain the flexibility of fund allocation of insurance
enterprises, Paragraph 4 of Article 146 of IA added "other
insurance-related businesses as recognized by the competent
authority" within the scope of insurance-related businesses.
The Financial Supervisory Commission (FSC) issued the new
"Insurance-related Businesses as Recognized by the Competent
Authority", per the letter Ref. No. Jin-Guan-Bao-Cai-Zi No.
10402507581 dated 7 October 2015. The main points are as
follows:
1. The amendment expands the scope of "insurance-related
businesses" to Financial Services Technology Business
("Fintech venture") engaging in big data analysis,
interface design, software development, the internet of things
(IoT) and the wireless communication business and meeting the
following requirements:
