By the 2000s, CTBC Holding was helping millions of people to save, borrow, and invest for the future. But we knew there was more we could do to diversify our services for the benefit of our customers and subsidiaries.

So, in November 2011, we acquired 100% of MetLife's Taiwanese subsidiary, which we renamed CTBC Life Insurance.

Next came multiplying CTBC Life's insurance sales channels and expanding its scale. The former was achieved in 2014 by merging with Manulife's local operations and acquiring its nearly 1,000-strong team of insurance sales agents. For the latter, a stock swap was arranged with Taiwan Life Insurance. When it was completed in 2015, Taiwan Life became a fully owned subsidiary of CTBC Holding. We subsequently pooled all our insurance resources under the Taiwan Life banner, generating synergy with our subsidiaries while still harnessing Taiwan Life's eminent standing.

Taiwan Life is the country's oldest insurer, established by the government in 1947 and privatized in 1998. Throughout its life, it has provided a full range of policies, closely monitored market changes, and adopted creative strategies in response. This has helped it ensure sound operational performance and the health and wealth of its policyholders. We think Taiwan Life's longevity is the best demonstration of the stable, long-term profitability it has enjoyed and the customer trust it has earned.

As of the end of 2023, subsidiaries under Taiwan Life Insurance included CTBC Insurance Co., Ltd., and WENWAN DEVELOPMENT CO., LTD. for a maximized scope of service. Meanwhile, there is the joint venture in Mainland China by the name of Junlong Life Insurance Co., Ltd., whose scope of operation covers Fujian and Zhejiang, 12 sites in the Economic Zone of the West Coast of the Strait; it is an important platform for Taiwan Life Insurance to expand its life insurance business in Mainland China.

In addition to such expansion, Taiwan Life is committed to maintaining its position at the forefront of industry digitalization and innovation. Not only were we the first to offer insurance-purchasing services online and via mobile, but we have actively developed and secured fintech patents to provide customers with digital services that make sense to them and fit into real everyday life.