Fubon Insurance Co. Ltd.'s capital and earnings have strengthened from a one-off favorable impact of transitioning to IFRS 17 and steady internal capital generation. We have revised our assessments of the insurer's capital and earnings and financial risk profile to strong from satisfactory. At the same time, we revised upward our assessment of Fubon Insurance's stand-alone credit profile to'a+'from'a'. We affirmed our'A-'local currency long-term issuer credit and financial strength ratings on Fubon Insurance. The ratings reflect our view that the insurer is a core subsidiary of the Fubon Financial Holding Co. Ltd. (Fubon FHC) group. The stable rating outlook reflects the rating outlook on other core operating subsidiaries of Fubon FHC group. On Oct. 28,
