Taiwan and France have signed an exchange of letters to forge closer cooperation in the supervision of the insurance industry. Financial Supervisory Commission chairman Thomas Huang signed the exchange of letters that were sent to the commission by the French Prudential Supervision and Resolution Authority (ACPR) after it was signed by Bank of France Governor and ACPR president Francois Villeroy de Galhau. Under the exchange of letters, the commission and the ACPR would work closely in a wide range of areas in the insurance sector, such as information sharing, assistance with on-site examinations, and cooperation in the supervision of cross-border establishments. The agreement would serve as a foundation for further supervisory cooperation in insurance between Taipei and Paris. The latest agreement would mean the two countries would launch a full range of financial regulatory cooperation.