Nanshan Life's Adjusted Net Worth Surpasses Last Year Post-New System Adoption; Aims for NT$55-60 Billion in CSM This Year
Nanshan Life has achieved an adjusted net worth of NT$593.2 billion after adopting new accounting standards, surpassing last year's levels. The company aims to generate NT$55-60 billion in new contract CSM this year, focusing on product strategy, asset-liability management, and AI integration.
📋 Article Processing Timeline
- 📰 Published: April 17, 2026 at 20:21
- 🔍 Collected: April 17, 2026 at 20:31 (10 min after Published)
- 🤖 AI Analyzed: April 18, 2026 at 23:44 (27h 12m after Collected)
Nanshan Life today held a media briefing to explain its operational status and key strategies after adopting new systems this year, including the International Financial Reporting Standard 17 (IFRS 17) for insurance contracts and the new generation solvency system (TIS).
Nanshan Life Chairman Yin Chong-yao stated that the target for new contract CSM this year remains over NT$55 billion to NT$60 billion. Regarding the IPO timeline, he reiterated that efforts are continuously being made in this direction and expressed hope for the blessings of all stakeholders before officially announcing the schedule, stating that there is currently no content to share externally.
Nanshan Life President Fan Wen-wei mentioned that in the future, the company will pursue long-term value through three major product strategies: strengthening CSM, increasing the sales ratio of protection-type and long-term payment products; enhancing asset-liability management (ALM) to increase the sales ratio of USD-denominated products and reduce currency mismatch risk; and stabilizing revenue by continuing to promote investment-linked products while accumulating account value to generate stable fee income.
Nanshan Life CFO Cai Sheng-feng explained that after adopting the new systems, the company demonstrated strong financial resilience, with first-year premiums and total premium income consistently ranking among the top three in the industry; the CSM balance after adopting the new systems reached NT$374.8 billion, with net worth at NT$293.4 billion and a net worth ratio of 5.6%; if the adjusted net worth including CSM is considered, it reaches NT$593.2 billion, with an adjusted net worth ratio of 11.3%, which is higher than the net worth of NT$357.1 billion under IFRS 4 last year.
Regarding market concerns about foreign exchange hedging, Cai Sheng-feng explained that a phased dynamic and gradual adjustment strategy is being employed. Last year, affected by significant fluctuations in the New Taiwan Dollar and high costs of hedging instruments, the annual hedging cost rate was around 2.2%. However, after adopting the new systems, through traditional hedging controls and the accumulation of foreign exchange fluctuation reserves, the hedging ratio is projected to decrease this year to between 1% and 1.5% compared to previous periods.
Facing the advent of the Artificial Intelligence (AI) era, Yin Chong-yao mentioned that AI is progressing rapidly, with significant updates monthly. For life insurance companies, AI is currently mainly used for internal work, such as underwriting and claims processing, where it can provide preliminary reviews and suggestions, significantly saving internal operational time. For customer-facing applications, caution is exercised due to uncertainty about the content AI might provide.
He cited that Nanshan Life has over 5,200 sales representatives with more than 30 years of service, many of whom manage over a thousand clients, often elderly. Serving a thousand clients simultaneously is challenging. Future AI tools can enhance service capacity. Additionally, AI is important in investment analysis and risk management, such as analyzing financial statements to uncover aspects not previously visible.
Yin Chong-yao emphasized that AI is currently in the "empowerment" stage, not "replacement (of human labor)" stage. However, given AI's rapid advancement, many business owners are considering which tasks are fundamentally better suited for humans and which can be handled by AI Agents from a workflow perspective. He stressed that they will not rush into using AI tools but will face them prudently.
Media also inquired about Nanshan Life's past cooperation with E.SUN Bank's banking channel and how it will adapt after E.SUN Financial's acquisition of Fubon Life. Yin Chong-yao admitted that Nanshan Life has had close cooperation with E.SUN Bank, and its new contract policy sales accounted for up to 10% of total channels, making it a very important business partner. He expects some impact in the short term, but the medium to long-term impact will not be significant.
Yin Chong-yao explained that just as CTBC Financial still allocates a certain capacity to other insurance companies to enrich product diversity, he believes E.SUN Financial will continue to sell a certain proportion of Nanshan Life policies. Naturally, the total amount will decrease, so Nanshan Life is continuously exploring other cooperative channels. Furthermore, as a life insurance company not affiliated with a financial holding group, Nanshan Life does not compete with the banking subsidiaries of financial holding groups, allowing for greater focus. (Editor: Yang Lanhuan) 1150417
Nanshan Life Chairman Yin Chong-yao stated that the target for new contract CSM this year remains over NT$55 billion to NT$60 billion. Regarding the IPO timeline, he reiterated that efforts are continuously being made in this direction and expressed hope for the blessings of all stakeholders before officially announcing the schedule, stating that there is currently no content to share externally.
Nanshan Life President Fan Wen-wei mentioned that in the future, the company will pursue long-term value through three major product strategies: strengthening CSM, increasing the sales ratio of protection-type and long-term payment products; enhancing asset-liability management (ALM) to increase the sales ratio of USD-denominated products and reduce currency mismatch risk; and stabilizing revenue by continuing to promote investment-linked products while accumulating account value to generate stable fee income.
Nanshan Life CFO Cai Sheng-feng explained that after adopting the new systems, the company demonstrated strong financial resilience, with first-year premiums and total premium income consistently ranking among the top three in the industry; the CSM balance after adopting the new systems reached NT$374.8 billion, with net worth at NT$293.4 billion and a net worth ratio of 5.6%; if the adjusted net worth including CSM is considered, it reaches NT$593.2 billion, with an adjusted net worth ratio of 11.3%, which is higher than the net worth of NT$357.1 billion under IFRS 4 last year.
Regarding market concerns about foreign exchange hedging, Cai Sheng-feng explained that a phased dynamic and gradual adjustment strategy is being employed. Last year, affected by significant fluctuations in the New Taiwan Dollar and high costs of hedging instruments, the annual hedging cost rate was around 2.2%. However, after adopting the new systems, through traditional hedging controls and the accumulation of foreign exchange fluctuation reserves, the hedging ratio is projected to decrease this year to between 1% and 1.5% compared to previous periods.
Facing the advent of the Artificial Intelligence (AI) era, Yin Chong-yao mentioned that AI is progressing rapidly, with significant updates monthly. For life insurance companies, AI is currently mainly used for internal work, such as underwriting and claims processing, where it can provide preliminary reviews and suggestions, significantly saving internal operational time. For customer-facing applications, caution is exercised due to uncertainty about the content AI might provide.
He cited that Nanshan Life has over 5,200 sales representatives with more than 30 years of service, many of whom manage over a thousand clients, often elderly. Serving a thousand clients simultaneously is challenging. Future AI tools can enhance service capacity. Additionally, AI is important in investment analysis and risk management, such as analyzing financial statements to uncover aspects not previously visible.
Yin Chong-yao emphasized that AI is currently in the "empowerment" stage, not "replacement (of human labor)" stage. However, given AI's rapid advancement, many business owners are considering which tasks are fundamentally better suited for humans and which can be handled by AI Agents from a workflow perspective. He stressed that they will not rush into using AI tools but will face them prudently.
Media also inquired about Nanshan Life's past cooperation with E.SUN Bank's banking channel and how it will adapt after E.SUN Financial's acquisition of Fubon Life. Yin Chong-yao admitted that Nanshan Life has had close cooperation with E.SUN Bank, and its new contract policy sales accounted for up to 10% of total channels, making it a very important business partner. He expects some impact in the short term, but the medium to long-term impact will not be significant.
Yin Chong-yao explained that just as CTBC Financial still allocates a certain capacity to other insurance companies to enrich product diversity, he believes E.SUN Financial will continue to sell a certain proportion of Nanshan Life policies. Naturally, the total amount will decrease, so Nanshan Life is continuously exploring other cooperative channels. Furthermore, as a life insurance company not affiliated with a financial holding group, Nanshan Life does not compete with the banking subsidiaries of financial holding groups, allowing for greater focus. (Editor: Yang Lanhuan) 1150417