Current Rating
Rating FAQ
Long-term  :   twAA
Short-term  :   --
Outlook  :  Stable
Issuer Rating History
Rating Date Long-term Rating outlook (credit watch) Short-term Rating
2024/11/27 twAA+ Stable --
2021/03/24 twAA Stable --
2020/04/29 twAA Negative --
2020/01/21 twAA Stable --
2019/09/26 twAA+ Watch Neg --
2012/10/08 twAA+ Stable --
Research Analysis
Publish Date Subject
2026/03/20 Media Release: Nan Shan Life Insurance Co. Ltd.'s Upcoming Series 115-1 (A) Unsecured Subordinated Corporate Bond Rated 'twAA'
2025/11/26 Research Update: Nan Shan Life Insurance Co. Ltd. Ratings Affirmed At 'twAA+'; Outlook Stable
2025/10/27 Media Release: Nan Shan Life Insurance Co. Ltd.'s Upcoming Series 114-3 (A) Unsecured Subordinated Corporate Bond Rated 'twAA'
2025/05/05 Media Release: Nan Shan Life Insurance Co. Ltd.'s Upcoming Series 114-2 (A) Unsecured Subordinated Corp. Bond Rated 'twAA'
2025/03/25 Media Release: Nan Shan Life Insurance Co. Ltd.'s Upcoming Series 114-1 (A) Unsecured Subordinated Corporate Bond Rated 'twAA
2024/11/27 Media Release: Nan Shan Life Insurance Upgraded To 'twAA+' From 'twAA' On Improved Capital And Earnings; Outlook Stable
2024/10/21 Media Release: Nan Shan Life Insurance Co. Ltd.'s Upcoming Series 113-2 (A) Unsecured Subordinated Corp. Bond Rated 'twAA-'
2024/05/29 Media Release: Nan Shan Life Insurance Co. Ltd.'s Upcoming Series 113-1 (A) Unsecured Subordinated Corporate Bond Rated 'twAA-'
2024/01/11 Bulletin: Nan Shan Life's Competitive Position To Solidify
2023/11/29 Media Release: Nan Shan Life Insurance Co. Ltd. 'twAA' Ratings Affirmed Following Revised Capital Model Criteria; Outlook Remains Stable
2023/11/16 Media Release: Two Insurance Issuers Ratings Placed Under Criteria Observation Following Criteria Update
2023/08/23 Media Release: Nan Shan Life Insurance Co. Ltd.'s Upcoming Series 112-1 (A) Unsecured Subordinated Corp. Bond Rated 'twAA-'
2022/11/25 Research Update: Nan Shan Life Insurance Co. Ltd. Ratings Affirmed At 'twAA'; Outlook Stable
2021/11/19 Research Update: Nan Shan Life Insurance Co. Ltd. Ratings Affirmed At 'twAA'; Outlook Stable
Last 5 Years Issue Rating History
Series Amount
(Million)		 Issue Date Maturity Date
 Coupon Rate
(%)		 Rating Rating Date
115-1/A   7,000 2026/04/28 2036/04/28 3.75 twAA  2026/03/20
114-3/A   3,780 2025/11/25 2035/11/25 3.75 twAA  2025/10/27
114-2/A   6,100 2025/06/04 2035/06/04 3.75 twAA  2025/05/05
114-1/A   2,900 2025/04/29 2035/04/29 3.75 twAA  2025/03/25
112-1/A   7,210 2023/10/26 2033/10/26 3.75 twAA  2024/11/27
113-1/A   2,380 2024/06/28 2034/06/28 3.75 twAA  2024/11/27
113-2/A   1,880 2024/12/03 2034/12/03 3.75 twAA  2024/10/21
*Taiwan Ratings maintains continuous surveillance over its ratings and the “Rating date” below refers to the last date on which the ratings/outlook have been changed or the ratings on/off CreditWatch.
*Unless there is a material change in our rating views on a given entity, Taiwan Ratings does not update the “Rating date,” which is accordance with the general international practice for rating disclosures.