 
Sustainability is a shared international dedication. Because the folks’s model, Fubon Life Insurance coverage prioritises the welfare of our stakeholders in addition to wider society. We provide safety, financial savings, annuity, accident and medical health insurance for purchasers, however our mission goes past offering providers. Our purpose is to proactively deal with ESG and climate-related dangers and alternatives, assist the trade’s transition to low-carbon operations, and foster a sustainable monetary ecosystem. We’re dedicated to initiatives that promote environmental safety, well being and monetary schooling.
Our efforts have been awarded after we have been named Taiwan’s Finest Life Insurance coverage Firm within the World Finance Awards 2024 for the thirteenth yr working. Our efforts have been additionally recognised within the 2023 sustainable finance analysis by the Monetary Supervisory Fee (FSC), the place we have been ranked within the high fifth of the insurance coverage trade. By quite a lot of initiatives, we purpose to leverage our company affect to drive the sustainable transformation of industries and create a greater future for all.
Balancing act
At Fubon Life, we attempt to stability profitability with sustainability, demonstrating our long-term dedication to sustainable operations and company governance. As of June 2024, we achieved a record-high month-to-month internet earnings of NT$13.71bn (greater than $420m). This marked the very best June revenue in our historical past, with a internet asset ratio exceeding the statutory minimal by greater than three %, and a capital adequacy ratio of over 300 %.
We purpose to construct a extra numerous, equitable and inclusive society
Whereas celebrating these successes, we continued to concentrate on sustainability. In 2023, our ESG-themed investments reached roughly NT$2.44trn (over $75bn), accounting for greater than half of our complete funding belongings, with inexperienced procurement totalling NT$150m (over $4.6m). Below the Board of Administrators, our Sustainability Growth Committee implements sustainability insurance policies from the highest down, linking ESG elements to board and senior administration efficiency evaluations.
So how are we addressing key sustainability points? Our efforts span a number of initiatives – not least round conservation and the setting. We’re the primary Taiwanese firm to concentrate on river waste points; in partnership with the Society of Wilderness, we’re supporting numerous river conservation initiatives, together with by tree planting and watershed safety initiatives. As of 2024, the corporate has carried out speedy screening of river waste in Taichung’s Wu River, Hsinchu’s Touqian River, Larger Taipei’s Tamsui River, Kaohsiung’s Houjin River and Yunlin’s Beigang River.
These efforts span 5 counties and 5 rivers, with plans to increase the initiative additional. This venture was recognised by the 2024 World Views ESG Company Sustainability Awards, the place we got here first within the Environmentally Pleasant class. We’re proud to be the one life insurance coverage firm in Taiwan to have obtained this award.
Fulfilling targets
We recognise that sustainability isn’t solely in regards to the setting, nevertheless. We’re additionally dedicating assets to addressing hidden points such because the urban-rural divide, and unequal useful resource distribution in Taiwan. By advancing numerous inclusive monetary initiatives, we purpose to construct a extra numerous, equitable and inclusive society, fulfilling our company social duty targets throughout a important time for sustainable growth.
On the identical time, we’re constructing on our core experience to understand our imaginative and prescient of ‘insurance coverage for all.’ By our Monetary and Insurance coverage Information Promotion programme, now we have efficiently prolonged insurance coverage schooling from most people to college and secondary faculty college students.
In partnership with the Taiwan Monetary Literacy and Schooling Affiliation, Fubon Life has organised over 100 monetary literacy programs for high-school college students, serving to them develop an understanding of insurance coverage safety and monetary consciousness. We’re additionally persevering with to launch our video collection, ‘The Ones Who Preserve Transferring Ahead,’ utilizing actual policy-holder tales to have interaction and resonate with the general public, successfully speaking the significance and function of insurance coverage. These efforts have been recognised by the Monetary Supervisory Fee’s inaugural Monetary Schooling Contribution Awards, the place we have been proud to obtain the Finest Collaboration Excellence Award.
Recognising that fraud has grow to be a severe social problem, now we have additionally actively collaborated with the private and non-private sectors to reinforce the general public’s fraud consciousness. Partnering with the Taipei Metropolis Authorities, we launched the Anti-Fraud Empowerment marketing campaign throughout 12 administrative districts, educating residents on frequent fraud schemes and constructing a nationwide fraud prevention community. We consider these efforts are according to our responsibility as an insurer to guard the general public. Enriching lives is on the core of what we do, and we purpose to proceed main the way in which in sustainable, inclusive finance as we transfer into the longer term and deal with the important thing challenges that lie forward.
