Fubon Life continues to dominate the consolidated credit profile of the Fubon FHC group, contributing a large part of the group's capital and asset base and acting as one of the group's core subsidiaries. Fubon Life has ranked as the second or third largest life insurer by total premiums in Taiwan over the past few years and has good control of its distribution channels, as well as above-average earning stability and good underwriting risk controls. We also view the insurer's capitalization and investment risk exposure to be close to the industry average. We are affirming our 'A-' insurer financial strength and issuer credit ratings on Fubon Life. The outlook is stable to reflect our expectation that Fubon Life will maintain
