In 2023, Nan Shan Life celebrated its 60th anniversary. Facing the global challenges of polycrises, including aging population with low birthrate, intensified risks in climate changes and health, political and economic instability, we at Nan Shan Life strive to uphold our values of people-oriented whole-heartily with the core philosophy of “the insurance business is a social service in essence” and continue to focus on the H.E.A.R.T. sustainability trategic themes: Health for health promotion, Earth for earth protection, Action for Good, Reliability, and Talent for talent empowerment to promote sustainable development and to create a sustainable future.

During the 28th session of the Conference of the Parties (COP28) of the United Nations in 2023, Nan Shan Life became the first insurer in Taiwan to participate in the World Climate Summit (WCS) and shared with the world Taiwan’s experience in financial and insurance sustainability, emphasizing that Nan Shan Life will continue to be devoted itself to strengthening people’s resilience against climate risks in the tendency of “health” becoming one of the major global climate change issues.

Our efforts in Environmental, Social and Governance (ESG) received positive feedback. In 2023, Nan Shan Life was recognized by Taiwan’s competent authority Financial Supervisory Commission (FSC) as one of the best insurers in the first Sustainable Finance Assessment. With stable and professional business operating strengths, we ranked second in the industry in respect of net income, ranked in the top three in premiums from new policies in the industry, ranked second in premiums from traditional insurance policies, and ranked first in the number of new contracts for spillover-effect insurance policies, ranked first in the market share of long-term care insurance. We will continue to make impactful changes and create a new era of sustainability in the industry.

The 2023 Nan Shan Life Sustainability Report is 11th report we have issued. In this report, we actively respond to the United Nation’s Sustainable Development Goals (SDGs) by integrating domestic and international trends and standards, while following our H.E.A.R.T. strategic themes for corporate sustainability. Through an open, transparent, and balanced information disclosure, we demonstrate our investments and achievements in ESG to stakeholders.

Nan Shan Life has been devoted itself to promoting products and services that combine insurance protection and health promotion to meet customers‘ holistic health needs in terms of Wellness and Healthcare. By the end of 2023, approximately 60 high-quality new startups and enterprises have joined the "Health Protection Circle" ecosystem and provided more than 7 themed services to meet the needs of sports groups, pregnant women, the senior, cancer care, three highs and sub-health and health checkups. The number of spillover-effect policyholders reaching 240,000. We continue to generate new insurance value for customers.

We respond to the 2050 net-zero emission target and committed the Science Based Target initiative (SBTi). We aim to reduce carbon emissions in Scopes 1 and 2 by 42% by 2030 based on those of 2022. We will continue to invest in the development and use of renewable energy. In 2023, we obtained ISO20400:2017 certification for sustainable procurement guideline, and worked with supply chain partners to reduce carbon emissions. Besides, we held the "Nan Shan Ocean Protection Action" for the 12th consecutive years, continuously advocating environmental protection issues through environmental education, traceability management and other activities.

Holding the philosophy of "the insurance business is a social service in essence", we carried out public services and social participation focusing on "inclusive finance", "community medical care" and "local care". In 2023, we held over 150 local care activities, and held 10 activities for the "Care for Remote Indigenous Villages Program" together with Nan Shan Life Charity Foundation and local medical institutions in Taiwan, aiming to bridging the information and resource gap in finance, health and medical care.

Nan Shan Life upholds the importance of corporate governance. In 2023, we published the "Sustainable Development Declaration", "Sustainable Development Practice Policy" and "Human Rights Policy" to practice corporate social responsibility, exert influence, and promote economic, environmental and social progress. We actively respond to the government to implement the principle of treating customers fairly, and strengthen customer rights protection. Both Nan Shan Life and its subsidiary Nan Shan General were recognized as the top 25% of outstanding insurance companies in treating customers fairly for the consecutive 2nd year by the FSC.

Talent is the basis of company sustainability. In 2023, we held the "#NS OPEN" basketball, badminton and softball competitions to promote health programs and create an inclusive working environment. We respect and value the diversity and differences of each employee. Moving towards the next new era, we launch two major transformation and development cores of "service empowerment" and "digital mpowerment" to accelerate the application and introduction of insurance technology, improve the overall service quality, and provide more intelligent and humanized digital service, so as to strengthen digital competitiveness and achieve the transformation of insurance value.

We believe that insurance is a mutually beneficial industry, and the spirit of sustainability has been rooted in the DNA of Nan Shan Life. 2024 marks the beginning of Nan Shan Life's journey towards the next 60 years. To respond to the trust of over 6.65 million policyholders and over a quarter of Taiwan families, Nan Shan Life will uphold the basic values of "Integrity and service first", "Original intention of altruism", "Thoughtful professionalism" and "Pioneering courage", and focus on H.E.A.R.T. sustainability strategic themes to strive for a more sustainable and responsible future with all stakeholders.
Sincerely,