Taiwan insurers take Formosa bonds over structured credit

Growth of renminbi assets ends Taiwan insurers' love affair with structured credit

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The relaxation on rules relating to Taiwan insurers' use of Formosa bonds – renminbi-denominated locally issued paper – in May last year has finally ended the demand for structured credit products from a sector which was a major buyer of the asset class prior to the global financial crisis in 2008.

While the market for Chinese currency denominated bonds has been active in Taiwan since 2013, a move by the Taiwan Financial Supervisory Commission (FSC) in May 2014 to no longer count these assets as

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