Business Performance
Financial Performance Indicators
Sound asset and liability management is the core of KGI Life’s operations and has produced fruitful business results over the years. In an environment of ongoing economic uncertainty, and to prepare for the adoption of new financial reporting standards, KGI Life continues to deliver solid financial and business performance through robust governance, prudent investments, product optimization, and the expansion of digital services.
| Total Assets | 2,510,844 |
|---|---|
| Net Income | 22,155 |
| Total Premiums | 174,526 |
| First-year Premiums | 58,004 |
| Operating Revenue | 265,451 |
|---|---|
| Profit and Loss After Tax | 22,155 |
| EPS (Unit: NTD) | 4.37 |
Governance Framework and Themes
Corporate Governance Organization
公司治理架構（固定列高 + 委員會獨立高度）
KGI Life has a sound corporate governance framework, in which the shareholders' meeting is responsible for acknowledging annual dividend distribution, financial statements, and issuance of new shares for the capitalization of profits. The Board of Directors is responsible for reviewing the Company's business plans, appointment of important managers, and other important business decisions.
Corporate Governance Organizational Chart
Office of the President
Management Committee
Shareholders' Meeting
Board of Directors
President
Management Team
Functional Committee
▸ Audit Committee
▸ Remuneration Committee
▸ Risk Management Committee
▸ Ethical Corporate Management Committee
▸ Nomination and Performance Evaluation Committee
▸ Corporate Sustainable Development Committee
▸ Remuneration Committee
▸ Risk Management Committee
▸ Ethical Corporate Management Committee
▸ Nomination and Performance Evaluation Committee
▸ Corporate Sustainable Development Committee
Auditing Department
Secretarial Office, Board of Directors
Board Performance Evaluation
The Board performance evaluation is an important mechanism for a company’s self-examination, improvement, and sustainable management. To enhance the functioning of the Board, promote sustainable corporate development, and foster a strong culture of corporate governance, KGI Life has established the “Board Performance Evaluation Guidelines”. Each year, KGI Life conducts performance evaluations for the Board of Directors, individual directors (including self-evaluations and peer evaluations), and all functional committees, i.e. the Audit Committee, Remuneration Committee, Risk Management Committee, Ethical Corporate Management Committee, and Corporate Sustainable Development Committee. The results of these evaluations are reported to both the Remuneration Committee and the Board of Directors.
The Board of Directors pays close attention to issues relating to sustainable development and treating customers fairly. Additionally, "Attention to ESG Issues" and "Active Implementation of the Principles for Treating Customers Fairly" were added to the self-evaluation items in 2019. These all fully shows that KGI Life is constantly pushing itself to foster sustainable development and determined to protect policyholders' rights and interests.
Also, in January 2024, the Company revised its “Board Performance Evaluation Guidelines” to include three ESG-related items, which include “the Board’s understanding of material ESG issues and developments relevant to the Company’s industry”, “the Board’s ongoing support for corporate sustainability and its guidance on ESG performance to fulfill corporate social responsibilities”, and “the Board’s regular review of the Company’s ESG implementation efforts”. These items have been added as the sixth evaluation aspect in the questionnaire under “Engagement in ESG”.
To meet the requirement on evaluating the performance of responsible persons in concurrently held positions set forth in Article 5 of the Regulations Governing Qualification Requirement and Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of Insurance Enterprises, the Company added "Directors do not concurrently hold positions in multiple companies (including directorship and supervisorship). If directors concurrently hold any positions described above, the directors have ensured their effective performance in their concurrent positions, that they do not have any conflicts of interest, and that they do not violate the internal controls of each institution" to the individual director performance self-evaluation items. In response to the annual review and revision conducted based on actual operations during the 30th meeting of the 23rd Board of Directors on December 19, 2024, the Company incorporated major penalties imposed by the competent authorities into the performance evaluation criteria for the Board and individual directors. This update also takes into account the current self-evaluation items used by the parent company, KGIF.
The results of the performance evaluation of the Board of Directors and functional committees for 2024 were submitted to the 33rd meeting of the 23rd Board of Directors on March 27, 2025. The results of each performance evaluation can be provided to the parent company, KGIF as a reference when selecting, nominating, or continuing to appoint the Company's directors. The results of the performance evaluation of individual directors are also used as a reference for formulating their individual remuneration, enabling the Board of Directors to continue improving its operational efficiency. Going forward, the Company will actively cooperate with the competent authorities' corporate governance blueprint, as well as promotion and implementation measures for important issues. This will enhance the effectiveness of Board operations, drive the Company's sustainable development, and create an excellent corporate governance culture.
The Board of Directors pays close attention to issues relating to sustainable development and treating customers fairly. Additionally, "Attention to ESG Issues" and "Active Implementation of the Principles for Treating Customers Fairly" were added to the self-evaluation items in 2019. These all fully shows that KGI Life is constantly pushing itself to foster sustainable development and determined to protect policyholders' rights and interests.
Also, in January 2024, the Company revised its “Board Performance Evaluation Guidelines” to include three ESG-related items, which include “the Board’s understanding of material ESG issues and developments relevant to the Company’s industry”, “the Board’s ongoing support for corporate sustainability and its guidance on ESG performance to fulfill corporate social responsibilities”, and “the Board’s regular review of the Company’s ESG implementation efforts”. These items have been added as the sixth evaluation aspect in the questionnaire under “Engagement in ESG”.
To meet the requirement on evaluating the performance of responsible persons in concurrently held positions set forth in Article 5 of the Regulations Governing Qualification Requirement and Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of Insurance Enterprises, the Company added "Directors do not concurrently hold positions in multiple companies (including directorship and supervisorship). If directors concurrently hold any positions described above, the directors have ensured their effective performance in their concurrent positions, that they do not have any conflicts of interest, and that they do not violate the internal controls of each institution" to the individual director performance self-evaluation items. In response to the annual review and revision conducted based on actual operations during the 30th meeting of the 23rd Board of Directors on December 19, 2024, the Company incorporated major penalties imposed by the competent authorities into the performance evaluation criteria for the Board and individual directors. This update also takes into account the current self-evaluation items used by the parent company, KGIF.
The results of the performance evaluation of the Board of Directors and functional committees for 2024 were submitted to the 33rd meeting of the 23rd Board of Directors on March 27, 2025. The results of each performance evaluation can be provided to the parent company, KGIF as a reference when selecting, nominating, or continuing to appoint the Company's directors. The results of the performance evaluation of individual directors are also used as a reference for formulating their individual remuneration, enabling the Board of Directors to continue improving its operational efficiency. Going forward, the Company will actively cooperate with the competent authorities' corporate governance blueprint, as well as promotion and implementation measures for important issues. This will enhance the effectiveness of Board operations, drive the Company's sustainable development, and create an excellent corporate governance culture.
Integrity and Governance
- Establish a comprehensive whistleblowing system with diverse whistleblowing channels, and provide measures to protect the rights and interests of whistleblowers
- There was no unethical conduct as described in the Ethical Corporate Management Best Practice Principles, and there were no violations of ethical corporate management or corruption in 2024
Risk Management
- Incorporate strict risk management into the business goals requiring regular follow-ups, and establish and periodically review the risk management policy, which serves as the highest guiding principle for internal risk management mechanisms
- The risk management organizational structure covers the Board of Directors, Risk Management Committee, Chief Risk Officer, risk management units, and related business and the auditing unit, establishing a comprehensive network
- Continue to pass regular reviews of the ISO 22301:2019 Management System to ensure that the overall mechanism complies with international standards for business continuity
Anti-Money Laundering (AML)
- The Chief Compliance Officer serves as the AML/CFT officer and oversees related business
- The 2024 comprehensive AML/CFT risk assessment results met the Company's risk limit requirements and risk appetite
- Encourage and subsidize employees to obtain professional certifications at home and abroad
Information Security
- There were no major information security incidents in 2024
- Selected as a key promoter of the zero trust architecture and share relevant plans and schedule with industry peers
- The relative weight of the information security budget increased year over year
Compliance
- Establish a standardized review process through the “Regulatory Change Management System” to assist in monitoring and integration
- Convene regular communication and liaison meetings of the second line of defense every six months to establish clear horizontal communication and liaison mechanisms