Taiwan Fire & Marine Insurance Co., Ltd.

The Company took over the various insurance companies originally established by the Japanese in the early days of Taiwan Restoration. The Preparatory Office of Taiwan Fire & Marine Insurance Co., Ltd. was set up on June 16, 1946. Apart from taking over the properties of the original Japanese insurance companies in Taiwan, the Preparatory Office also started to underwrite new insurance policies. Taiwan Fire & Marine Insurance Co., Ltd. (hereinafter referred to as Taiwan Insurance) was officially inaugurated on March 12, 1948. It was jointly invested by the Bank of Taiwan, Land Bank of Taiwan, First Bank, Changhua Bank, Huanan Bank, Taiwan Aviation Corp., and Taiwan Railway Administration. It is a provincial business enterprise and also a non-life insurance company with the longest history in Taiwan.

To be in line with government policy, Taiwan Insurance became publicly-listed on September 30, 1997 and transformed into a privately-run enterprise on January 22, 1998. The general shareholders’ meeting elected Mr. Lee Wen Yung as the first chairman on June 28, 2000. It was due to strenuous efforts over the past 65 years, Taiwan Insurance’s authorized capital grew from old NT$10 million then to NT$6 billion with a total paid-in capital of NT$3.638 billion now. The Company’s capital base ranked Taiwan’s top 3 non-life insurance companies. Navigator Holdings is Taiwan Insurance’s largest shareholder and leads operation of the Company, while the Bank of Taiwan and Land Bank of Taiwan are the two other major shareholders.

Presently, Taiwan Insurance offers more than 80 lines insurance products , with leading position in some lines. The Company has 11 branches and 30 liaison offices across the island with a long history of local operation and a representative office in Shanghai as well. To make it more convenient for customers to purchase non-life insurance, the Company has formed alliances with a number of financial institutions in recent years with more than 1,500 service outlets available. Our service network density tops the non-life insurance industry in Taiwan. As of end of 2010, the Company’s total assets totaled NT$16 billion and shareholders’ equity amounted to NT$6.5 billion. The Company has a stable financial structure with abundant capital, and its solid operating performance in recent years has made the company No.1 in Net Profit Ratio among the domestic non-life insurance companies.

Taiwan Insurance is a publically-listed company under open and transparent operation information framework. The Company was honored the highest A+ grade and for voluntary information disclosure company in the 8th Public Companies Information Disclosure Evaluation published by the Securities & Futures Institute in June 2011. This is the fourth time the Company won this honor since the evaluation began. A total of 1,190 public companies were rated in this evaluation with only 43 companies receiving the A+ grade, demonstrating the Company’s transparency in operation information disclosure. Taiwan Ratings and Standard & Poor also respectively continues to give Taiwan Insurance twAA- and BBB+ rating with “stable” outlook December 2010.