[Cathay Financial] Cathay Century Insurance Announces Early Termination of Lease Agreement with Cathay Life Insurance for Right-of-Use Assets
Cathay Century Insurance, a subsidiary of Cathay Financial Holdings, announced the early termination of a lease agreement for a warehouse at the Taoyuan Zhongshan Building with Cathay Life Insurance on May 20, 2026, due to operational changes. The transaction results in a total rental cost reduction of NT$256,672.
📋 Article Processing Timeline
- 📰 Published: May 20, 2026 at 09:00
- 🔍 Collected: May 21, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 21, 2026 at 08:16 (16 min after Collected)
1. Name and nature of the target:
Taoyuan Zhongshan Building: Room A1, 10th Floor, No. 845, Zhongshan Rd., Taoyuan Dist., Taoyuan City
2. Date of occurrence: May 20, 2026
3. Date of board approval: Not applicable
4. Other authorization date:
Authorization level: General Manager
May 20, 2026
5. Quantity, unit price, and total amount of the transaction:
(1) Quantity: 24.25 pings for warehouse, 1 unit; NT$661.5 per ping (tax included)
Reduction per unit: NT$16,042 (monthly rent); Total reduction: NT$16,042 * 16 months = NT$256,672
(2) Decrease in right-of-use assets: NT$253,322
6. Counterparty and relationship:
Counterparty: Cathay Life Insurance Co., Ltd.
Relationship: Related party
7. Reason for selecting a related party:
Reason: Early termination of the contract due to warehouse floor changes.
8. Previous ownership/transfer details: Not applicable
9. Expected profit (or loss) from the disposal: Not applicable
10. Delivery/payment terms, contract restrictions, and other important agreements:
Original lease period: September 21, 2025, to September 20, 2027; Early termination date: May 20, 2026.
11. Decision-making method, basis for pricing, and decision-making unit:
Method: Conducted in accordance with the provisions regarding early termination in the original lease agreement.
Decision unit: Based on the company's internal authorization limit.
23. Purpose of acquisition or disposal:
To terminate the lease contract early due to warehouse floor relocation.
24. Dissenting opinions from directors: None
25. Related party transaction: Yes
31. Other disclosures: None
Taoyuan Zhongshan Building: Room A1, 10th Floor, No. 845, Zhongshan Rd., Taoyuan Dist., Taoyuan City
2. Date of occurrence: May 20, 2026
3. Date of board approval: Not applicable
4. Other authorization date:
Authorization level: General Manager
May 20, 2026
5. Quantity, unit price, and total amount of the transaction:
(1) Quantity: 24.25 pings for warehouse, 1 unit; NT$661.5 per ping (tax included)
Reduction per unit: NT$16,042 (monthly rent); Total reduction: NT$16,042 * 16 months = NT$256,672
(2) Decrease in right-of-use assets: NT$253,322
6. Counterparty and relationship:
Counterparty: Cathay Life Insurance Co., Ltd.
Relationship: Related party
7. Reason for selecting a related party:
Reason: Early termination of the contract due to warehouse floor changes.
8. Previous ownership/transfer details: Not applicable
9. Expected profit (or loss) from the disposal: Not applicable
10. Delivery/payment terms, contract restrictions, and other important agreements:
Original lease period: September 21, 2025, to September 20, 2027; Early termination date: May 20, 2026.
11. Decision-making method, basis for pricing, and decision-making unit:
Method: Conducted in accordance with the provisions regarding early termination in the original lease agreement.
Decision unit: Based on the company's internal authorization limit.
23. Purpose of acquisition or disposal:
To terminate the lease contract early due to warehouse floor relocation.
24. Dissenting opinions from directors: None
25. Related party transaction: Yes
31. Other disclosures: None
FAQ
What is this announcement?
This is an official announcement that Cathay Century Insurance has terminated a lease agreement with Cathay Life Insurance due to warehouse operational adjustments.
What is the impact?
The termination of the lease will reduce rental expenses and optimize cost management within the group.
Will there be similar actions in the future?
Operational adjustments may continue as part of group-wide asset optimization efforts.