Union Insurance Co., Ltd. (Taiwan, China)

Union Insurance Company Limited (”Union or the “Company) was founded on February 20, 1963 by overseas Chinese, domestic entrepreneurs and industrialists, and business leader therefore named “Union”. On May 5, 1992, Union became the first nonlife insurance company to be publicly listed on the Taiwan Stock Exchange, trading under the symbol “2816”. In order to increase its capital base, diversify marketing channels, and enhance core competencies, Union acquired China Mariners’ Assurance Corporation （CMAC）in October 2002. This was the first successful merger within the domestic nonlife insurance industry, which provided excellent opportunities for growth and increased competitiveness. The Want Want Group took over the company on June 2007 and proceeded to complete a capital injection in August of the same year. In order to strengthen corporate governance, an extraordinary shareholders’ meeting was held on November 19, 2007 to elect a new Board of Directors (including 2 independent Directors), and 2 Supervisors. The paid up capital was further strengthened through a capital injection on October 2008 and the Company now has a RBC ratio of over 200%.The Company’s head office is located in Taipei with 17 branch offices, 40 liaison offices and 5 direct marketing offices set up throughout Taiwan forming an islandwide network to develop business and provide quality services. Business activities include Fire, Marine, Liability, Casualty, and Reinsurance. Union also received regulatory approval to operate Health insurance on November 28, 2008 and has begun selling on July 1, 2009. With the leadership of the Want Want Group, the Company will surely continue progress and become the most trusted insurance company.