Approval for Enterprise Combination between American International Life Insurance Company (AILIC) and Delaware American Life Insurance Company (DALIC), both based in the US, and Nan Shan Life Insurance Co., Ltd. (Nan Shan)
Chinese Taipei
Case:
Approval for Enterprise Combination between American International Life Insurance Company (AILIC) and Delaware American Life Insurance Company (DALIC), both based in the US, and Nan Shan Life Insurance Co., Ltd. (Nan Shan)
Key words:
combination, subsidiary, transfer of shares
Reference:
Fair Trade Commission Decision of November 19, 1997 (the 316th Commission Meeting); Decision (86) Kung Chieh Tzu No. 240
Industry:
Life Insurance Industry (6710)
Relevant Laws:
Articles 6(1)(ii), and 11(1)(iii) of the Fair Trade Law
Summary:
AIALC and DALIC, two subsidiaries of American International Group, have been holding 76.5% of Nan Shan's voting shares. For their plan to purchase another 18.73% of the voting shares, they have filed an application for enterprise combination pursuant to Articles 6(1)(ii) and 11 of the Law.
The investigation showed that the combination of AILIC, DALIC and Nan Shan is a matter of share transfer among different shareholders within Nan Shan, which does not influence the structure of the market or create barriers for the entry of other enterprises. Therefore, as this combination imposes no obvious restriction on competition or adverse effect on the overall economy, this Commission approves the combination in accordance with Article 12 of the Law.
Summarized by Chang, Hsiang-hsi
Supervised by Hu, Kuang-yu