Microinsurance covers 142,000 people: supervisory commission
Some 142,000 people in Taiwan are now part of a microinsurance program that was launched in the country in 2009, the Financial Supervisory Commission (FSC, ) said.
In 2014 alone, the number of insured increased by 77,000, thanks mainly to less stringent eligibility requirements and various promotional efforts, FSC Chairman Tseng Ming-chung ( ) said in a news conference held after a weekly Cabinet meeting.
He predicted that the number of insured will continue to rise, increasing this year by 60,000.
According to the FSC, the microinsurance program is aimed at providing basic protection for economically disadvantaged people, on a year by year basis.
During the Cabinet meeting, Premier Mao Chi-kuo said caring for the disadvantaged is one of the government’s core policies and he directed the FSC to continue to encourage insurance companies to provide microinsurance to help build a social security network. conductor contract manufacturer, has set a goal of beginning mass production of chips on the 10-nanometer technology by the end of 2016, Mark Liu, its president and chief executive officer, said.
TSMC last year won huge orders for Apple Inc.’s next-generation mobile device processors, which had previously been awarded to Samsung of South Korea.
However, TSMC is likely fall behind Samsung in terms of foundry market share for 16nm/14nm processors this year, Liu said at a seminar in California.
In addition, Samsung is set to obtain fresh orders for Apple’s next-generation mobile device processors, he said.
However, since Apple usually orders it processors from multiple suppliers, it is uncertain whether Samsung would be the main supplier, Liu added.
In the face of such strong competition, TSMC is speeding up its transition to new technology processes, he said.
TSMC Chairman Morris Chang ( ) has said several times that the company’s goal is to overtake its main competitors in the market for 16nm/14nm chips by 2016 and maintain that lead in the market in the following years, according to Liu.
Liu said TSMC’s goal is to be able to offer its customers chips on the 10-nm process by the end of 2016 and to expand production capacity so that customers will not suffer any supply shortfalls.
The company said at an investors’ meeting earlier this year that it will invest a record US$11.5 billion-12 billion this year in production expansion.