Taipei: Taiwan's top financial regulator announced the approval of a merger between Taishin Life Insurance Co. and Shin Kong Life Insurance Co., marking a significant step in the consolidation efforts of their parent firms.
According to Focus Taiwan, the parent companies, Taishin Financial Holding Co. and Shin Kong Financial Holding Co., finalized their merger into TS Financial Holding Co. on July 24. The newly formed entity will see Taishin Life as the surviving company, which will be renamed Shin Kong Life Insurance Co. effective January 1, 2026. The combined entity is poised to become Taiwan's fourth-largest life insurer, with total assets reaching NT$3.96 trillion (US$126 billion).
At the end of September, data revealed that Taishin Life held NT$358 billion in assets, positioned 16th in the industry, while Shin Kong Life was ranked fourth with NT$3.6 trillion, as stated by Tsai Huo-yen, deputy director of the FSC's Insurance Bureau. By the end of October, Shin Kong Life had a workforce of 15,392 compared to Taishin Life's 1,425 employees.
Tsai confirmed that the Financial Supervisory Commission (FSC) approved the merger and subsequent name change, ensuring all regulatory criteria were met. To safeguard policyholders, the commission required Taishin Life to provide a written guarantee that existing policyholders from both companies would retain their rights and benefits post-merger.
In terms of financial performance, Shin Kong Life reported an after-tax loss of NT$31.18 billion for the first three quarters of 2025, whereas Taishin Life posted an after-tax profit of NT$1.64 billion in the same timeframe, based on FSC data. The merger is anticipated to enhance Taishin Financial's market share in the life insurance sector by expanding its customer base and improving its financial performance, as noted by Andy Chang, senior director of the Financial Services Ratings Department at Taiwan Ratings.