Cathay Life resists pressure for greater home bias

Tensions appear to be building in Taiwan over the heavy investments made by local insurers overseas. Lawmaker Julian Guo flagged last week how Taiwan's insurers were investing almost 70% of their investment funds overseas – a level not just unusually high, he said, but also a world-record high. By comparison, Guo reportedly added, the corresponding levels of overseas investment for insurers were only 21.6% in Japan, 8.3% in South Korea, 2% in China and 12% in the US. Taiwan's Fi…