Sustainability is a shared global commitment. As the people’s brand, Fubon Life Insurance prioritises the welfare of our stakeholders as well as wider society. We offer protection, savings, annuity, accident and health insurance for customers, but our mission goes beyond providing services. Our aim is to proactively address ESG and climate-related risks and opportunities, support the industry’s transition to low-carbon operations, and foster a sustainable financial ecosystem. We are committed to initiatives that promote environmental protection, health and financial education.

Our efforts were awarded when we were named Taiwan’s Best Life Insurance Company in the World Finance Awards 2024 for the 13th year running. Our efforts were also recognised in the 2023 sustainable finance evaluation by the Financial Supervisory Commission (FSC), where we were ranked in the top fifth of the insurance industry. Through a number of initiatives, we aim to leverage our corporate influence to drive the sustainable transformation of industries and create a better future for all.

Balancing act
At Fubon Life, we strive to balance profitability with sustainability, demonstrating our long-term commitment to sustainable operations and corporate governance. As of June 2024, we achieved a record-high monthly net income of NT$13.71bn (more than $420m). This marked the highest June profit in our history, with a net asset ratio exceeding the statutory minimum by more than three percent, and a capital adequacy ratio of over 300 percent.

We aim to build a more diverse, equitable and inclusive society

While celebrating these successes, we continued to focus on sustainability. In 2023, our ESG-themed investments reached approximately NT$2.44trn (over $75bn), accounting for more than half of our total investment assets, with green procurement totalling NT$150m (over $4.6m). Under the Board of Directors, our Sustainability Development Committee implements sustainability policies from the top down, linking ESG factors to board and senior management performance evaluations.

So how are we addressing key sustainability issues? Our efforts span several initiatives – not least around conservation and the environment. We are the first Taiwanese company to focus on river waste issues; in partnership with the Society of Wilderness, we are supporting various river conservation projects, including through tree planting and watershed protection initiatives. As of 2024, the company has conducted rapid screening of river waste in Taichung’s Wu River, Hsinchu’s Touqian River, Greater Taipei’s Tamsui River, Kaohsiung’s Houjin River and Yunlin’s Beigang River.

These efforts span five counties and five rivers, with plans to expand the initiative further. This project was recognised by the 2024 Global Views ESG Corporate Sustainability Awards, where we came first in the Environmentally Friendly category. We are proud to be the only life insurance company in Taiwan to have received this award.

Fulfilling goals
We recognise that sustainability isn’t only about the environment, however. We are also dedicating resources to addressing hidden issues such as the urban-rural divide, and unequal resource distribution in Taiwan. By advancing various inclusive financial initiatives, we aim to build a more diverse, equitable and inclusive society, fulfilling our corporate social responsibility goals during a critical time for sustainable development.

At the same time, we are building on our core expertise to realise our vision of ‘insurance for all.’ Through our Financial and Insurance Knowledge Promotion programme, we have successfully extended insurance education from the general public to university and secondary school students.

In partnership with the Taiwan Financial Literacy and Education Association, Fubon Life has organised over 100 financial literacy courses for high-school students, helping them develop an understanding of insurance protection and financial awareness. We are also continuing to release our video series, ‘The Ones Who Keep Moving Forward,’ using real policy-holder stories to engage and resonate with the public, effectively communicating the importance and purpose of insurance. These efforts were recognised by the Financial Supervisory Commission’s inaugural Financial Education Contribution Awards, where we were proud to receive the Best Collaboration Excellence Award.

Recognising that fraud has become a serious social issue, we have also actively collaborated with the public and private sectors to enhance the public’s fraud awareness. Partnering with the Taipei City Government, we launched the Anti-Fraud Empowerment campaign across 12 administrative districts, educating citizens on common fraud schemes and building a nationwide fraud prevention network. We believe these efforts are in line with our duty as an insurer to protect the public. Enriching lives is at the core of what we do, and we aim to continue leading the way in sustainable, inclusive finance as we move into the future and address the key challenges that lie ahead.