Newsletter
NO LIMITS ON PURCHASE OF TREASURY STOCK BY INSUR-ANCE COMPANIES
The Ministry of Finance (MOF) recently an-nounced that when an insurance company wishes to buy back its own shares as treasury stock, it does not need to first apply with the MOF for approval, and the amount and application of funds is not subject to the provisions of Article 146-1 Sub-paragraph 3 of the Insurance Law. Therefore, when an insurance company pur-chases treasury stock, the usual restrictions on the amount and subject of investments do not apply.