Cathay Life Signs Construction Contract with Related Party via Owner-Entrusted Build
Original: 代子公司國泰人壽公告以自地委建方式與利害關係人交易簽訂工程承攬契約書
Summary
Cathay Financial is disclosing, on behalf of its subsidiary Cathay Life Insurance, the execution of a construction contract with a related party under an owner-provided-land, entrusted-construction (自地委建) arrangement. In this structure, Cathay Life supplies the land while contracting out the building work, a method common for insurance firms monetising property assets. Investors should note the related-party nature of the deal, which triggers enhanced disclosure obligations under Taiwan's Insurance Act and TWSE regulations. Full body available on MOPS.
Full Translation
Announcing on behalf of subsidiary Cathay Life Insurance Co., Ltd.: Cathay Life has entered into a construction contract (工程承攬契約書) with a related party (利害關係人) through an owner-provided-land, entrusted-construction arrangement (自地委建方式). Under this model, Cathay Life, as landowner, entrusts a contractor to develop the site, with economic benefits typically allocated between the two parties per agreement. Because the counterparty qualifies as a 'related/interested party' under applicable regulations, the transaction is subject to Taiwan FSC and TWSE related-party transaction disclosure rules for insurance enterprises. [Body not available — subject line only. See MOPS for full announcement.]