Regulations Governing Permission of Insurance Business Transactions and Investment Between the Taiwan Area and the Mainland Area Article 43

The investment of a Mainland-area insurance enterprise or Mainland-funded insurance enterprise in an insurance enterprise in Taiwan Area that is listed on Taiwan Stock Exchange or Gretai Securities Market shall not exceed 5 percent of said investee’s total outstanding voting shares; the investment in a listed insurance enterprise in Taiwan Area by all Mainland-area insurance enterprises and/or Mainland-funded insurance enterprises combined shall not exceed 10 percent of said investee’s total outstanding voting shares. The investment of a Mainland-area insurance enterprise or Mainland-funded insurance enterprise in an unlisted insurance enterprise in Taiwan Area shall not exceed 10 percent of said investee’s total outstanding voting shares; the investment in an unlisted insurance enterprise in Taiwan Area by all Mainland-area insurance enterprises and/or Mainland-funded insurance enterprises combined shall not exceed 15 percent of said investee’s total outstanding voting shares.If the shareholding of a personal insurance enterprise in Taiwan Area in an personal insurance enterprise in Mainland China may exceed 50 percent of the Mainland-area institution’s total outstanding voting shares or total capital under the Economic Cooperation Framework Agreement entered between Taiwan Area and Mainland Area, the Competent Authority may approve the percentage of equity investment mentioned in the preceding two paragraphs under special case status.