[Sponsored Report] Kyobo Life Insurance chief wins top prize abroad

Kyobo Life Insurance CEO Shin Chang-jae (left) and Sivam Subramaniam, editor in chief of the Asia Insurance Review, pose for a photo at the Asia Insurance Industry Awards 2012 in Kuala Lumpur, Malaysia, on Sunday.

Kyobo Life Insurance CEO Shin Chang-jae won the top prize at this year’s Asia Insurance Industry Awards in recognition of his exceptional leadership and work toward pioneering a new life insurance culture.

Shin was chosen as the “Personality of the Year” at the annual ceremony, which was held in Kuala Lumpur, Malaysia, on Sunday. He is the first Korean insurance company chief executive to receive the honor.

“Shin has endeavored to put the company on the right track and establish a firm customer-oriented corporate culture. He has helped the company achieve stable profits as well as risk management skills,” said the 29 global insurance experts and CEOs who made up the group of judges, including Michael Morrissey, president of the International Insurance Society; Dave Matcham, chief executive of the International Underwriting Association; and Huang Tien-Mu, director general of the insurance bureau of the Taiwanese Financial Supervisory Commission.

The judges also recognized one of Kyobo Life’s products, launched last year to place more emphasis on service provided to customers after they purchase insurance policies.

And Kyobo Life received high marks for becoming a model in fulfilling corporate social responsibility through mutual development with customers, employees, investors and the community, the company said in a press release.

By Lee Ji-hyun [concordia@joongang.co.kr]