Cathay Life eyes external help with offshore bonds
With regulations set to be eased to allow Taiwanese insurers to invest lower down the global bond spectrum, Daniel Teng of Cathay Life says it may capitalise, but will need external help.
Cathay Life Insurance could seek to extend its overseas corporate bond portfolio into the lower end of the investment grade spectrum and even into junk territory, should regulations allow.
At present the minimum rating for corporate bonds that Taiwanese insurers are permitted to invest in by the Financial Supervisory Commission (FSC) is BBB+.
However, last month the FSC announced plans to ease the rules to allow insurers such as Cathay to invest in the debt of offshore companies…
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