SKFH acquired Shin Kong Property Insurance Agency Co., Ltd. (SKPIA), a wholly-owned subsidiary of Shin Kong Bank, at the end of 2013. The acquisition is aimed at providing customers with a more comprehensive range of insurance products and services through SKFH's cross-selling platform and the marketing channels of its subsidiaries, while also building on overall synergies within the group.
SKPIA's core business is providing property insurance. Through close communication and cooperation with property insurers, the company designs premium property insurance packages for individuals and small to medium-sized business customers. The company's product line encompasses residential fire insurance, commercial fire insurance, transportation insurance, car insurance (including automobile physical damage insurance, third party liability insurance, compulsory automobile and motorcycle insurance), engineering insurance, household comprehensive insurance, various types of general liability insurance and professional liability insurance.
SKPIA also leverages the advantages of SKFH's integrated marketing platform to strengthen education, training, and cooperation with various business channels. The company promotes insurance products optimized for different channel characteristics and helps customers with property insurance risk management planning so customers can enjoy the maximum protection benefits within their budgets.
Founded in April 2011, SKVC's regional investment focus is on the greater China region. Shin Kong Venture Capital (SKVC) carried out a business plan focused on firstly, investment in domestic industries, primarily clean energy, Internet of Things, start-ups , e-banking, and other high-potential industries, and secondly on development of China's equipment leasing market through Suzhou-based Shin Kong Leasing, a wholly-owned enterprise established through a third location. On the domestic investment front, the company's strategy involves in-depth study and site visits to companies, as well as active integration with resources of other SKFH subsidiaries to carefully identify targets with industry prospect and development potential. In China's leasing market, Shin Kong Leasing continued to provide professional financial services aimed at helping SMEs expand production capacity in the Jiangsu and Dongguan areas. The company is also using its leasing business as a learning platform for SKB to better serve Taiwanese companies with operations on both sides of the Taiwan Strait. Through SKVC, Shin Kong Bank can also understand the local laws, administrative procedures, and business habits in China, paving the way for the future establishment of subsidiaries and branches in China.
In 2014, SKFH increased the capitalization of SKVC by NT$1 billion to support the subsidiary's further growth. SKVC retained NT$400 million for domestic investment and reinvested NT$600 million in Shin Kong Leasing to help the latter grow more competitively and strengthen its capital structure.