Fubon Life Insurance

Investment strategy is set by Fubon Life's internal investment committee under the oversight of Fubon Financial Holding, chaired by Richard Tsai. The family maintains tight strategic control across the Fubon Group entities, with Richard's brother Daniel Tsai chairing the broader Fubon Group. The next generation, including Chris Tsai as Vice Chairman of Fubon Life, participates in operational and strategic oversight of the insurance and investment operations.

The insurer allocates across commercial real estate, venture capital, and multi-asset strategies. Real estate is the most visible allocation — Fubon Life directly owns several London trophy assets including the Madame Tussauds building, Bow Bells House, and Cannon Place, acquired during a concentrated buying period between 2014 and 2018. The firm also runs venture capital strategies targeting early-stage companies and operates domestic vehicles including Fubon No. 1 REIT and the Fubon Dual Core Strategy Multi-Asset Fund.

Most Asian life insurers allocate heavily to domestic sovereign bonds and regional real estate. Fubon Life stands out for its direct, concentrated ownership of landmark City of London commercial properties — an allocation that intensified from 2014 onward as the firm sought yield diversification away from low-rate Taiwanese government bonds. This direct-ownership posture, rather than investing through commingled funds, gives Fubon Life full control over asset management and disposition timing.

The Tsai family controls Fubon Group, which in turn controls Fubon Financial Holding — the listed parent of Fubon Life Insurance, Fubon Bank, and Fubon Securities. Richard Tsai chairs the financial holding company, while Daniel Tsai chairs Fubon Group. The insurance entity, Fubon Life, is a regulated subsidiary whose investable assets are general-account policyholder funds rather than family personal wealth, but the Tsai family's controlling position gives them strategic direction over how those assets are deployed.

Fubon Life invests its own general-account assets, funded by policyholder premiums. It does not operate as a third-party asset manager raising external institutional capital. However, related entities within Fubon Financial Holding — including Fubon Asset Management and Fubon Securities — do manage external capital across mutual funds, discretionary mandates, and securities brokerage.

Two foundations extend the Tsai family's institutional footprint: the Fubon Charity Foundation and the Fubon Art Foundation. The Art Foundation, directed by Maggie Tsai, operates the Fubon Art Museum in Taipei's Xinyi District and stewards a collection that includes works by 20th-century Chinese-French masters Sanyu and Zao Wou-Ki. These foundations are structurally separate from the insurance balance sheet but share family-level governance.

The firm targets early-stage venture capital allocations through direct investments and fund commitments. The strategy sits alongside real estate and multi-asset allocations within the general account, with sector focus areas including technology and financial services — sectors that align with Fubon Group's broader fintech and digital-banking initiatives across Greater China.