Netherlands: Taishin and AEGON Finalize Taiwan Life Insurance and Pension Joint Venture
Taiwan Taishin Financial Holding Co. Ltd. ("Taishin") and Dutch AEGON N.V. ("AEGON") have finalized a joint venture agreement to develop and distribute life insurance and pension products in Taiwan. The joint venture is expected to be operational by mid-2008, subject to final approval by regulatory authorities. Under the terms of a memorandum of understanding signed earlier thi year, Taishin will hold 51% of the joint venture and AEGON the remaining 49%. The joint venture will distribute life insurance and pension products throug Taishin's nationwide distribution network of 200 business locations, belonging to Taishin Bank, Taiwan Securities, Taishin Insurance Agency and Taishin Insurance Brokers. This network will be expanded by another 170 business locations if the planned merger between Taishin and Chang Hwa Bank goes ahead.
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