Cathay Life, Taiwan Life to commit $176m to private equity funds
Taiwanese insurers to invest the money in four separate entities, filings say
Cathay Life is s one of the largest life insurance players in Taiwan, while Taiwan Life was founded in 1947 as the island's first insurance company. (Source photo by Reuters. Logos from Cathay Life Insurance and Taiwan Life Insurance websites)
CEBU, Philippines -- Taiwanese insurers Cathay Life Insurance and Taiwan Life Insurance have agreed to commit a total of $176 million to four private equity funds, according to separate stock exchange filings.
Cathay Life, the insurance subsidiary of Taiwanese conglomerate Cathay Financial Holdings, has committed $60 million to KPS Special Situations Fund VI A and another 80 million euros ($86 million) to CVC Capital Partners IX.