Committed to becoming one of Asia's first-class financial institutions, Fubon Financial Holdings has built a strong lineup of financial service companies. Its major subsidiaries include Fubon Life, Taipei Fubon Bank, Fubon Bank (HK), Fubon Bank (China), Fubon Insurance, Fubon Securities. As of the end of December 2016, Fubon Financial Holdings had total assets of US$196.75 billion, ranking second among of Taiwan' s financial holding companies and the most profitable financial holding company in Taiwan.
Fubon Financial Holdings' subsidiaries rank among the top performers in their respective sectors. Fubon Insurance has consistently led all P&C insurers with an over 20% market share. Taipei Fubon Bank is one of Taiwan's biggest privately owned banks; Fubon Securities ranks among Taiwan's top three securities houses; and Fubon Life ranks second in first year premium and total premium.
Fubon Financial Holdings has also moved aggressively to extend its reach throughout Greater China. Fubon Financial Holdings acquired a stake in Xiamen Bank through Fubon Bank (Hong Kong) in 2008. Fubon Property & Casualty Insurance began operations in 2010. Founder Fubon Fund Management, a fund management joint venture between Fubon Asset Management and Founder Securities, unveiled in July 2011.
In January 2014, Fubon Financial Holdings and Taipei Fubon Bank acquired a controlling 80% stake in Shanghai-based First Sino Bank, later change its name to Fubon Bank (China). Fubon Financial Holdings is now the only Taiwanese financial institution with banking subsidiaries in China, Taiwan and Hong Kong. In October 2016, Fubon Bank (China) becomes a wholly owned subsidiary of Fubon Financial Holdings.
Looking ahead, Fubon Financial Holdings will continue to strengthen our presence in Taiwan and pursue stable growth. At the same time, Fubon Financial Holdings will continue to search for suitable M&A opportunities in Greater China in order to develop a foothold in the regional market and move closer to the goal of becoming a first-class business group in Asia.