The First Insurance Co., Ltd.

The First Insurance Co., Ltd. was established on the fourth day of September in 1962.  Ever since, the Company has played a significant role in stabilizing national economy, improving social welfare, as well as flourishing the industry and commerce.  In its pioneering phase, the Company was comprised of just two sectors of specialization, the financial sector and the business sector.  By upholding a prudent and committed corporate principle, together with employee contributions, the Company has successfully laid a solid foundation in Taiwan’s insurance market.   Nowadays, the First Insurance Co., Ltd. is a well-diversified organization, which is providing its commercial as well as personal lines customers with an extensive range of insurance products.

Corporate briefing history:

• The Company was founded on 4th September 1962.
• The First building was completed on January 1975.
• Internal restructure in 1984.
• Paid-up capital increased to NTD 405,000,000 in 1993.
• Paid-up capital increased to NTD 495,000,000 in 1994.
• Paid-up capital increased to NTD 610,000,000 in 1995.
• Paid-up capital increased to NTD 760,000,000 in 1996.
• Paid-up capital increased to NTD 940,000,000 in 1997.
• Paid-up capital increased to NTD 1,150,000,000 in 1998.
• Paid-up capital increased to NTD 1,400,000,000 in 1999.
• On 28th November 2000 the Company stock was listed in the market.           Paid-up capital increased to NTD 1,700,000,000 in 2000.
• Paid-up capital increased to NTD 2,000,000,000 in 2001.
• Paid-up capital increased to NT$2,102,300,000 as at 31st December, 2003.
• On 30th November 2004, Taiwan Ratings Corporation rated the Company at “twA+” in credit standing and financial position with the rating on the prospect of the Company as “Stable”.  Standard & Poor’s rated “BBB” with a Stable outlook.  Paid-up capital increased to NT$2,349,776,000 as at 31st December 2004.
• On 10th November 2005, Taiwan Ratings Corporation rated the Company at “twA+” in credit standing and financial position with the rating on the prospect of the Company as “Stable”.  Standard & Poor’s rated “BBB” with a Stable outlook. Paid-up capital increased to NT$2,580,753,000 as at 31st December 2005.
• On 6th December 2006, Taiwan Ratings Corporation rated the Company at “twA+” in credit standing and financial position with the rating on the prospect of the Company as “Stable”.  Standard & Poor’s rated “BBB” with a Stable outlook.
• On 20th November 2007, Taiwan Ratings Corporation rated the Company at “twA+” in credit standing and financial position with the rating on the prospect of the Company as “Positive”.  Standard & Poor’s rated “BBB” with a Positive outlook.                                                           Paid-up capital increased to NT$2,827,828,000 as at 31st December 2007.
• Paid-up capital increased to NT$3,011,637,000 on July 2008.  On 18th November 2008, Taiwan Ratings Corporation rated the Company at “twA+” in credit standing and financial position with the rating on the prospect of the Company as “Stable”.  Standard & Poor’s rated “BBB” with a Stable outlook.
• On 3rd December 2009, Taiwan Ratings Corporation rated the Company at “twA+” in credit standing and financial position with the rating on the prospect of the Company as “Stable”.  Standard & Poor’s rated “BBB” with a Stable outlook.
• On 19th November 2010, Taiwan Ratings Corporation rated the Company at “twA+” in credit standing and financial position with the rating on the prospect of the Company as “stable”.  Standard & Poor’s rated “BBB” with a Stable outlook. Paid-up capital remains at NT$3,011,637,000 as at 31st December 2010.
• On 16th November 2011, Taiwan Ratings Corporation rated the Company at “twA+” in credit standing and financial position with the rating on the prospect of the Company as “stable”.
• On 20th November 2012, Taiwan Ratings Corporation rated the Company at “twA+” in credit standing and financial position with the rating on the prospect of the Company as “stable”.  Standard & Poor’s rated “BBB” with a Stable outlook.
• On 3rd July 2013, Taiwan Ratings Corporation raised the Company rating to “twAA-” from “twA+” in credit standing and financial position with the rating on the prospect of the Company as “stable”.  Standard & Poor’s rated “BBB+” with a Stable outlook.
• On 14th November 2014, Taiwan Ratings Corporation rated the Company at “twAA-” in credit standing and financial position with the rating on the prospect of the Company as “stable”.  Standard & Poor’s rated “BBB+” with a Stable outlook.
• On 25th November 2015, Taiwan Ratings Corporation rated the Company at “twAA-” in credit standing and financial position with the rating on the prospect of the Company as “stable”.  Standard & Poor’s rated “BBB+” with a Stable outlook.
• On 28th November 2016, Taiwan Ratings Corporation rated the Company at “twAA-” in credit standing and financial position with the rating on the prospect of the Company as “stable”. Standard & Poor’s rated “BBB+” with a Stable outlook.
• On 17th November 2017, Taiwan Ratings Corporation rated the Company at “twAA-” in credit standing and financial position with the rating on the prospect of the Company as “stable”. Standard & Poor’s rated “BBB+” with a Stable outlook.
• With effect from 1st March 2018
  　1.Removed Personal Lines Insurance Group, Commercial Lines Insurance Group and Specific Lines Insurance Group, and reorganized all subordinate departments under the Business Group.
  　2.Removed Management Support Resource Group and Enterprise Development Resource Group, and reorganized all subordinate departments under the Resource Management Group.
  　3.Renamed Personal Insurance Department to Accident and Health Insurance Department.
• On 20th November 2018, Taiwan Ratings Corporation raise the Company’s financial strength and issuer credit rating on The First Insurance co., Ltd to “twAA” from “twAA-“. The rating outlook is stable. Standard & Poor’s raise the rating to “A-“ from “BBB+” with a Stable outlook.
• On 29th November 2019, Taiwan Ratings Corporation rated the Company at “twAA” in credit standing and financial position with the rating on the prospect of the Company as “stable”. Standard & Poor’s rated “A-“with a Stable outlook.
• On 24th November 2020, Taiwan Ratings Corporation rated the Company at “twAA” in credit standing and financial position with the rating on the prospect of the Company as “stable”. Standard & Poor’s rated “A-” with a Stable outlook.
• On November 24, 2020, Taiwan Ratings confirmed First Insurance’s rating as “twAA” for issuer credit and financial strength, and issued a “Stable” outlook. On December 28, 2020, S&P confirmed First Insurance’s issuer credit and financial strength rating as “A-,” and issued a “Stable” outlook.
• Taipei Branch Office was renamed to New Taipei City Branch office on January 1, 2021. 29 Liaison Offices were changed to 29 Service Centers. Banqiao Liaison Office was removed.
• On November 26, 2021, Taiwan Ratings confirmed First Insurance's rating as "twAA" for issuer credit and financial strength, and issued a "Stable" outlook. On December 21, 2021, S&P confirmed First Insurance's issuer credit and financial strength rating as "A-," and issued a "Stable" outlook.
• A digital office was established on January 1, 2022.
• On November 18, 2022, Taiwan Ratings confirmed First Insurance's rating as "twAA" for issuer credit and financial strength, and issued a "Stable" outlook. On December 26, 2022, S&P confirmed First Insurance's issuer credit and financial strength rating as "A-," and issued a "Stable" outlook.