Cai Mingzhong, chairman of Fubon Group.

(Photo by Central News Agency)

[Central News Agency] Fubon Property & Casualty will experience huge losses in 2022 due to the claims settlement of the epidemic prevention insurance. Cai Mingzhong, chairman of Fubon Group, said bluntly today that he has learned the biggest lesson in the failure of risk control and management in Taiwan's corporate world. He will keep this lesson in mind and must Say sorry to shareholders.

Fubon Group held its annual thank you meeting at the Nangang Exhibition Hall today. Cai Mingzhong said in his speech that the biggest impact on Fubon last year was the storm of epidemic prevention and risk, which had an impact on finances and reputation. "Many people even think that I have never Say sorry to shareholders, I believe that most of the employees present today are our shareholders, so I would like to say sorry to everyone.”

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Cai Mingzhong further mentioned that in the face of a snowstorm of insurance applications, property insurance companies have to work around the clock to complete the underwriting, billing operations, and the subsequent tsunami of claims. The front-line customer service employees are faced with excessive work every day. , so that the compensation can be delivered to the policyholders as soon as possible. During this process, the policyholders have also been criticized by the policyholders. I would like to express my special thanks to the employees for their hard work.

Looking forward to 2023, Cai Mingzhong expressed that he must keep in mind the risk control that the president (Cai Mingzhong's father, Cai Wancai) has always remembered and explained in the past. "We have learned the biggest lesson of risk control failure in the entire Taiwanese business community. From this lesson, do a good job in risk management first.”

Cai Mingzhong pointed out that there have been earth-shaking changes in the past 3 years. I would like to thank the administrative staff for their creativity, innovation and efforts in epidemic prevention. He previously set up the first PCR testing station in Taiwan's business circle for Fubon, and launched many epidemic prevention in due course. Measures to ensure the health of the vast majority of employees.

At the same time, Cai Mingzhong expects employees to truly abide by Fubon's three creeds, namely honesty, diligence, humility, practice positive power, and create social benefits for all.

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