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Home > Top Stories > Nan Shan Continues Its Commitment to Sustainability

Nan Shan Continues Its Commitment to Sustainability

Published by Wanda Rich

Posted on January 8, 2025

4 min read

Last updated: January 8, 2025

Nan Shan Continues Its Commitment to Sustainability - Top Stories news and analysis from Global Banking & Finance Review

Nan Shan Life upholds the corporate mission of the source of excellent insurance and the backer of good health. The Company has had more than 11.75 million policies in effect, providing high-quality protection and insurance planning services to more than 6.65 million policyholders.

Nan Shan Life upholds the philosophy of "the insurance business is a social service in essence" and has been committed to fulfilling its core functions in insurance, promoting sustainable development, and responding to the 11 SDGs related to the core business, including SDG 3, 4, 5, 7, 8, 9, 10, 11, 13, 14 and 15. The Company integrates company resources to achieve comprehensive efficiency and core functions, and maximizes social influence and has adopted H.E.A.R.T. sustainability strategic themes:

H.E.A.R.T.—

H for Health Promotion

E for Earth Conservation

A for Action for Good

R for Reliability

T for Talent Empowerment

Nan Shan Life will move towards our vision of "making earnest commitment and taking protective actions".

Nan Shan Life has served its Customers and cared for Society. By incorporating the concept of sustainability into its DNA, Nan Shan Life converted its principles of sustainability into five major themes: “H.E.A.R.T.”; which are closely relevant to its core business and competencies. Nan Shan Life has set corresponding short, medium and long term goals and reported the performances to the Corporate Sustainability Committee, examples listed below:

H for Health Promotion- to build and promote a health care platform, expand exclusive customer care services and damage prevention.
E for Earth Conservation- low carbon transformation and alleviating and adjusting to climate change, and continuous promote environmental protection.
A for Action for Good- to promote social welfare benefit actions, community medical care and microinsurance policies.
R for Reliability- to promote legal compliance and effective risk management, construct an effective ESG due diligence governance mechanism, implement the principle of treating customers fairly, and strengthen information security management.
T for Talent Empowerment─ to implement human rights protection, promote the health of all employees, improve employee satisfaction, and strengthen talent cultivation.

Nan Shan Life actively communicates and engages in dialogue with stakeholders. In order to gain a deeper understanding of the issues of concern to internal and external stakeholders, so as to make timely and appropriate responses and actions, we follow the five principles of AA 1000 SES Stakeholder Engagement Standard (SES) (V.2018) to identify 8 critical stakeholders of Nan Shan Life.

We continue to understand and respond to the demands and expectations of stakeholders through diverse communication channels, such as customer opinion surveys and visits, while evaluating the satisfaction of the outside world with information disclosure, which will be deemed as the basis for Nan Shan Life's sustainable development, execution, evaluation and improvement of operations.

The responsible unit for Nan Shan Life 2023 Sustainability Report is the Corporate Sustainability Committee. The content was provided, compiled and consoled by various departments, Nan Shan Life Charity Foundation and the subsidiary Nan Shan General Insurance and has been approved by the President and submitted to the Board of Directors.

The report was prepared in accordance with the following standards:

Global Reporting Initiative's (GRI) 2021 revised universal, industry-specific, and significant topic standards.
Sustainable Accounting Indicators for the Insurance Industry (2023-12) from the Sustainability Accounting Standards Board (SASB).
The International Integrated Reporting Framework (IR) published by the International Integrated Reporting Council (IIRC).
Taiwan Stock Exchange Corporation Rules Governing the Preparation and Filing of Sustainability Reports by TWSE Listed Companies, Sustainability Disclosure Indicators - Financial Insurance Industry and Climate-related Information for Listed and OTC Companies.
Financial Supervisory Commission (FSC)'s Guidelines for Financial Disclosure of Climate-related Risks in the Insurance Industry.

The 2023 report has been limitedly assured by KPMG in accordance with Taiwan's Auditing Standards Bulletin No. 1 (based on International Standard on Assurance Engagements 3000), and SGS-Taiwan in accordance with AA 1000 (2018) standard for Type II moderate assurance verification, so as to ensure compliance with the above guidelines and standards.

Link to Corporate Social Responsibility Report

https://www.nanshanlife.com.tw/public_promotion/subject/ESG/ESGen/report.html