All existing employees of MetLife Taiwan will be retained and CFHC will maintain employee's salary and welfare policies for the next two years.
Chinatrust Financial Holding Company (CFHC) announced the completion of acquisition of 100 percent of MetLife Taiwan Insurance Company Ltd. from MetLife. The new subsidiary of CFHC also held a board of directors meeting to approve the renaming of Chinatrust Life Insurance Co., Ltd. and personnel appointments as following: Song-Chi Chien, the new chairman of the company, Frank K. Ling, the chief executive officer (CEO), Chung-Ching Chuang, the chief operating officer (COO) and acting spokesperson, Wei-Tzu Chao, the chief investment officer.
Chinatrust promised 307,000 policyholders and 983,000 policies interests are fully secured. All existing employees of MetLife Taiwan will be retained and CFHC will maintain employee's salary and welfare policies for the next two years.
Chinatrust indicated that the renaming of Chinatrust Life Insurance Company will be effective after the Regulatory Authority's approval.
The new subsidiary in the insurance business will complete Chinatrust's profile and strengthen its competence. In the future, CFHC will focus on international and domestic merges and acquisitions, investment business, risk management and cross-marketing to create greatest value for stockholders, according to a report in China Post.
Do you know more about this story? Contact us anonymously through this link.