OREANDA-NEWS. Fitch Ratings has withdrawn CTBC Life Insurance Co., Ltd.'s 'A' Insurer Financial Strength (IFS) Rating and 'AA+(twn)' National IFS Rating with Negative Outlooks. The withdrawal comes as the rated entity no longer exists following its merger with Taiwan Life Insurance Co., Ltd. (IFS 'A', Negative Outlook) which became effective on 1 January 2016. Accordingly, Fitch will no longer provide ratings or analytical coverage for CTBC Life Insurance Co., Ltd.