Regulatory Alerts2025-07-31
Added
Financial Supervisory Commission Order Against SinoPac MetLife for Insufficient Capital Adequacy and Failure to Implement Capital Reinforcement Plan
The Financial Supervisory Commission ordered SinoPac MetLife to complete its capital reinforcement plan by the end of 2025 and submit a new specific plan within one month due to its capital adequacy ratio falling below the statutory minimum and failing to implement approved measures. The regulator imposed a ban on new real estate investments and mandated a one-year reduction of Chairman Weng's compensation to 70% of the previous year's total, citing his failure to ensure the company's sound operation and protect policyholders' interests. This enforcement action addresses the company's classification as having 'significantly insufficient capital' and its non-compliance with the Insurance Act regarding capital adequacy management.
Share