Cathay Financial Holding Co., Ltd · Taipei Taiwan · (Taiwan: 2882)
Company Description
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This link will open in a new window One of the largest financial services firms in Taiwan, Cathay Financial Holding Co. owns companies involved in banking, insurance, brokerage, and more. Its holdings include life, accident, and health insurer Cathay Life ; property/casualty coverage provider Cathay Century; brokerage firm Cathay Securities; and Cathay United Bank, which offers consumer banking services such as deposit accounts, home mortgages, credit cards, and car loans. Cathay Financial Group also has units devoted to venture capital investing. The company has more than 500 locations and claims a customer base of more than 9 million. It plans to open bank branches in China. To read the full description, subscribe now.
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Key Cathay Financial Holding Co., Ltd Financials
| Company Type | Public - Taiwan: 2882 Headquarters |
| Fiscal Year-End | December |
| 2007 Employees | 38,033 |
Cathay Financial Holding Co., Ltd Executives
11 executives listed for Cathay Financial Holding Co., Ltd's Taipei Taiwan location.
| Title | Name & Bio | Contact |
| Chairman | Hong-tsu Tsai | |
| Vice Chairman | Gregory Wang | |
| President and Director | Tiao-Juei Huang |
Competition
Competitive Landscape for Cathay Financial Holding Co., Ltd
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Cathay Financial Holding Co., Ltd Competitors
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