UNION INS. Business Summary

Union Insurance Co., Ltd. (2816.TW) operates as a leading non-life insurance provider in Taiwan, generating revenue through a dual-engine model of underwriting premiums and the strategic investment of its insurance float. The company’s primary business segments encompass motor, fire, marine, engineering, liability, and personal accident/health insurance, with motor insurance serving as the largest contributor to its gross written premiums. As the first non-life insurer to list on the Taiwan Stock Exchange (1992), the firm leverages the extensive distribution network and cross-selling synergies of its parent, the Want Want Group, to maintain a competitive presence in both the retail and corporate sectors. Within the Taiwanese property and casualty (P&C) landscape, Union Insurance competes directly with Shinkong Insurance (2850.TW), Taiwan Fire & Marine Insurance (2832.TW), and First Insurance (2852.TW). It maintains a robust mid-market position, focusing on underwriting discipline and digital transformation to drive profitability, as evidenced by its reported net profit of NT$1.04 billion for the 2025 fiscal year. The company’s executive leadership is spearheaded by Chairman Chi-Hsiung Hung (洪吉雄) and President Tzu-Ming Liu (劉自明), both of whom bring decades of experience in financial management and insurance operations to the firm. Liu, who has served as the General Manager and President since 2018, is credited with stabilizing the firm’s capital adequacy and enhancing operational efficiency. The board of directors, re-elected in May 2025 for a term through 2028, includes influential figures such as Shao-Chung Tsai (蔡紹中), the son of Want Want Group founder Tsai Eng-meng, ensuring tight strategic alignment with the parent conglomerate. Union Insurance is a core subsidiary of the Want Want Group, which holds a controlling interest through investment vehicles like Norwares Overseas Inc. This relationship provides the company with a stable capital base and a unique competitive advantage through the group’s diversified interests in food, media, and financial services across the Greater China region.