According to Article 27 of the "Regulations for Establishment and Administration of Foreign Insurance Enterprises, foreign insurance enterprises shall get prior approval from the FSC before transferring all or part of their insurance contracts to licensed domestic or foreign insurance companies in Taiwan . Therefore, a branch of foreign insurer is not allowed to be wound up, unless it transfers the operating assets and liabilities to licensed domestic or foreign insurance companies in Taiwan. In addition, the subsidiary of foreign insurance companies, who wishes to withdraw from the Taiwan market, could make an equity transfer to an appropriate buyer.