Bali, Indonesia, 17 October 2010 – The crème de la crème of Asia's insurance industry was feted at the 14th Asia Insurance Industry Awards with several surprises.
For the first time, a Chinese company – China Pacific Life - swiped one of the most prestigious titles in the long history of the Awards, winning the Life Insurance Company of the year. Lonpac Insurance became the first Malaysian winner of the prestigious General Insurance Company of the Year award in recognition of its
responsiveness to customer needs and solid financial performance.
Another head turner was the Personality of the Year Award given to Mr Leslie Mouat, Chairman of Chartis Asia Pacific, for holding the team and the fort together in the wake of the global financial crisis and the AIG trauma.
Sompo Japan Insurance won the inaugural Green Company of the Year, awarded to the company which has given long-term commitment and resources to a sustainable green programme and has ensured its successful implementation. It is hoped that this Award will make the insurance industry more conscious of not only going green but also encouraging its clients to do the same.
India emerged as the market that won the most number of Awards, winning three of the 14 categories with Technology Initiative, Educational Service Provider and Corporate Social Responsibility.
The prestigious annual Awards are keenly contested by players in the Asian insurance markets in the region each year, and 2010 was no exception. The winners were selected by industry peers with 27 distinguished insurance leaders serving on the Panel of Judges.
The 14th Asia Insurance Industry Awards were jointly organised by Singapore-based Asia Insurance Review and London-based The Review Worldwide Reinsurance magazines.
This year's Awards presentation was held on the eve of the 25th East Asian Insurance Congress and attended by more than 400 senior executives and officials from the insurance industry at The Westin Resort Nusa Dua, Bali, Indonesia.
The Winners for 2010 are:-
Life Insurance Company of the Year
China Pacific Life (CPIC Life)
One of the pioneers of China's life insurance industry, CPIC Life has responded to market demands with products covering all seasons of life, using technology to reach out to customers.
General Insurance Company of the Year
Lonpac Insurance
Lonpac impressed the judges with its use of in-depth product knowledge and technology to meet customers' needs, while consistently maintaining a good financial performance.
Educational Service Provider of the Year
Joint Winners:
Australian & New Zealand Institute of Insurance and Finance (ANZIIF), and the MicroInsurance Academy (MIA)
ANZIIF was recognised for its continued achievement in developing and enhancing professional industry standards, while MIA's innovative training methods won admiration from its peers and the judging panel.
Innovation of the Year
EQECAT
EQECAT's Asia typhoon model has revolutionised the way in which the insurance and reinsurance industry evaluates risk in the region.
Service Provider of the Year
Mark International
Having operated in Asia since 1986, ReMark has become the market leader in providing alternative distribution and marketing solutions to its insurance partners across the region.
Broker of the Year
Marsh
The five-time winner of the Broker of the Year award continues to help its clients succeed in unpredictable environments.
Reinsurance Broker of the Year
Guy Carpenter
A winning combination of its global platform with local knowledge and execution capabilities has helped Guy Carpenter clinch the Reinsurance Broker of the Year title for the fourth time.
General Reinsurer of the Year
Allianz SE Reinsurance Branch Asia Pacific
Allianz SE Reinsurance Branch Asia Pacific is the General Reinsurance Company of theYear for the second time running, thanks to its client focus, consistently sound technical advice and tailor-made solutions.
Life Reinsurer of the Year
Swiss Re
Swiss Re has overcome the challenges of 2009 to win the Life Reinsurer of the Year accolade for the third time.
Corporate Social Responsibility Award
Aviva Life Insurance Co India
Aviva Life Insurance of India impressed the judging panel by demonstrating how corporate social responsibility can be closely and successfully tied with business strategy.
Green Company of the Year
Sompo Japan Insurance
Sompo Japan's long-running green programme and its tireless efforts in championing green initiatives have made it the clear winner in this category.
Technology Initiative of the Year
Financial Information Network and Operations Ltd (FINO)
For transforming the delivery of micro-health insurance services, FINO of India has won the inaugural Technology Initiative of the Year award.
Personality of the Year
Leslie John Mouat
Caring boss, consummate professional, industry expert and iron-disciplined corporate manager – these are fitting attributes of Les Mouat, Chairman of Chartis Asia Pacific, who demonstrated extraordinary leadership during the toughest of times.
Lifetime Achievement Award
Alfonso T Yuchengco
Alfonso Yuchengco has won the Lifetime Achievement Awards for his career as a businessman, banker, insurance maverick and diplomat.
Bernie Fung (1953-2010)
Bernie's sudden, untimely death earlier this year was a big blow to the industry and to all who knew him. This Award is a tribute to what he did for the industry he was so committed to.
Appendix:
The panel of 27 distinguished judges comprise:
Annie Choi, Commissioner of Insurance, Hong Kong
Dr Bassel Hindawi, Immediate Past Director General, Insurance Commission of Jordan
Chantra Purnariksha, Secretary-General, Office of Insurance Commission, Thailand
Dr Huang Tien-Mu, Director General, Insurance Bureau, Financial Supervisory Commission, Taiwan
Isa Rachmatarwata, Chief of Insurance Bureau, Indonesia
Alan Wilson, Regional Co-Chief Executive Officer, MSIG Holdings (Asia) Pte Ltd
Chai Sophonpanich, Chairman and President, Bangkok Insurance Public Co Ltd
Christopher Ho, Chairman, Singapore Reinsurer’s Association
Clarence Yeung, Managing Director, Client Markets Asia & Regional Broker Executive Asia, Swiss Reinsurance Company
David L Fried, Group General Manager and Group Head of Insurance, HSBC Holdings plc
David Kinloch, Chief Executive Officer, Labuan IBFC Inc Sdn Bhd
Hiroshi Fukushima, President & Chief Executive, The Toa Reinsurance Co Ltd
Leslie J Mouat, Chairman, Chartis Asia Pacific
Michael J Morrissey, President & Chief Executive Officer, International Insurance Society Inc
Patrick M Liedtke, Secretary General & Managing Director, The Geneva Association
Patrick Poon, Chairman of Operation Committee and Director, China Pacific Insurance (Life) Co Ltd
Richard Austen, Chairman, Reinsurance Brokers’ Association (Singapore)
Sara Lamsam, President, The Thai Life Assurance Association
Scott Ryrie, Chief Executive Officer, Allianz SE Reinsurance Branch Asia Pacific
Simon Machell, Chief Executive Officer, Asia Pacific Aviva Asia Pte Ltd
Stephen Collins, Chief Executive Officer, ReMark International B.V.
Tadashi Baba, Managing Director, Sompo Japan Asia Holdings Pte Ltd
Takashi Yoshikawa, Chief Executive Officer, Tokio Marine Asia Pte Ltd
Teddy Hailamsah, Secretary-General, Asean Insurance Council & Chairman, 25th EAIC Organizing Committee
Tony Cheng, Chief Executive Officer, Hong Kong & Southeast Asia and Executive Advisor, China & Taiwan, RGA Reinsurance Company
Yassir Albaharna, Chief Executive Officer, Arab Insurance Group (B.S.C.)
Yogesh Lohiya, Chairman cum Managing Director, General Insurance Corporation of India
Source: Asia Insurance Review 18/10/2010
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