Taiwan Fire & Marine Insurance Co., Ltd. (Taiwan, China)

At the early stage of restoration of Taiwan by the government, the Taiwan Fire & Marine Insurance Co., Ltd. - Preparatory Office was formed in June 1946 to take over the assets and operations of Japanese insurance operations existing then in Taiwan. The office also started writing business. The company, officially incorporated on March 12, 1948, is the oldest insurance company to be set up in Taiwan. The company became publicly listed on September 30, 1997, and privatized on January 22, 1998. And within two years, in 2000, the capital increased to NT$ 2.06 billion. By 2010 the company’s total paid-up capital is increased to NT$ 3.638 billion. Compared with only marine and fire insurance written in the early days, the company has presently more than 50 different product lines, serviced by 11 branches and 30 liaison offices located across Taiwan, and the Shanghai Representative Office (established in August, 2006) in Shanghai. In light of the third phase of tariff liberalization, the company adjusted the organization structure from product-oriented to client-oriented on January 1, 2009. And in 2009, TFMI received ‘BBB+’ and ‘twAA-’ ratings, outlook stable, from Standard & Poor’s and Taiwan Ratings respectively, reflecting its strong financial structure and sound underwriting performance. In addition, the company has received Grade A+ for the years of 2006, 2008, and 2009, the highest grade level possible on Information Disclosure and Transparency Ranking, a ranking system developed and conducted by Taiwan Securities & Futures Institute for all TWSE/GTSM listed companies in promoting corporate governance and information transparency. Looking forward, the company will stick to its profit oriented philosophy, maintaining high standard profitability and reinvigorating self-own assets in return for the care and support from our shareholders.