BNP Paribas Cardif to Exit Taiwan General Insurance Market as FSC Seeks Policyholder Protections

BNP Paribas Cardif has decided to withdraw from Taiwan’s general insurance market, raising questions about the continuation of existing policies, claims services and employee arrangements. Insurers must obtain approval from the Financial Supervisory Commission before ceasing operations, meaning the exit is not merely a corporate decision but also affects whether policyholder contracts will be fully honored.

According to the FSC’s latest statement, the application is under review by the Insurance Bureau. The FSC respects the company’s commercial decision but has set two principles: protecting the rights and interests of employees and policyholders. The insurer may stop accepting new contracts only after receiving formal approval and must coordinate subsequent arrangements with its distribution partners.