Nomination Opens for Directors Of The Year Awards 2023 In the Theme “Transform for a Better Tomorrow”

HONG KONG, Jun 6, 2023 – (ACN Newswire) – The Hong Kong Institute of Directors ("HKIoD") has announced that its annual Directors Of The Year Awards 2023 are now open for nominations.

From left to right: Dr Christopher To, Dr Carlye Tsui, Ms Alice Yip, Ir Edmund K H Leung and Mr Vincent Chan provide an overview of the Directors Of The Year Awards 2023 during the briefing session.

Under the theme of "Transform for a better tomorrow", this year's Awards aim to recognise and honour the exemplary leadership of directors and boards who have steered their companies through the unprecedented challenges brought by the pandemic. These Awards acknowledge the efforts made by leaders who have not only managed to keep their businesses afloat during the crisis, but have also found innovative ways to adapt and transform their operations. The focus on transformation highlights the need for companies to embrace change and innovation in order to create a brighter future. By honouring these leaders, the Awards aim to inspire others to follow in their footsteps and drive positive change in their organisations, communities, and beyond. The awards also serve to promote the significance of corporate governance among the public.

Nomination for the Awards will close on 31 July 2023. The Panel of Judges consists of leaders, professionals and regulators in Hong Kong. Director Of The Year Awards 2023 recognises excellence in the following categories:

Company Categories
1. Listed Companies
2. Non-Listed Companies
3. Statutory/Non-Profit-Distributing Organisations*

Director Categories
1. Executive Directors
2. Non-Executive Directors
3. Boards

Note: *A non-profit-distributing organisation is defined as an organisation of which profits are not distributed to its shareholders, members, directors, employees or any other persons, with objectives including, but not limited to charitable welfare, social service, health and medical care, education, research, trade and industrial alliance, professional advancement, self-help support, etc.

The Awards nomination form and related information are available on The Hong Kong Institute of Directors website at

About Directors Of The Year Awards
Launched in 2001, the Directors Of The Year Awards was the first of its kind organised in Asia. It is now an annual project of impact in the community. Its objectives are to recognise directors and board of directors for outstanding director practices and corporate governance, to publicise the significance of good corporate governance and to promote awareness of good corporate governance and director professionalism in Hong Kong. Nominations are open to the public. As good corporate governance is vital to all types of organisations, and professional practices from directors in all board roles are encouraged, the Awards recognise excellence in categories by company types, including listed companies, private companies and statutory/non-profit-distributing organisations, and categories by roles, including Executive Directors, Non-Executive Directors and Boards. For more details on the previous years' Awards, please visit

About The Hong Kong Institute of Directors
The Hong Kong Institute of Directors is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. Website:

Directors Of The Year Awards 2023 Enquiries:
The Hong Kong Institute of Directors
Odessa So
+852 2889 4988 /
Fax: +852 2889 9982

Media Enquiries:
Strategic Public Relations Group
Brenda Chan
+852 2114 4396 /
Fax: +852 2114 4948

Copyright 2023 ACN Newswire. All rights reserved.

MDRT Global Services Announces 2023 Culture of Excellence Award Winners

HONG KONG, May 25, 2023 – (ACN Newswire) – MDRT Global Services has announced the 131 winners ( ) of the prestigious 2023 MDRT Culture of Excellence Awards, the global standard for achievement in financial services leadership. This year, seven agency leaders from Hong Kong won the awards, which have been an important resource available to Global Services members to measure individual and agency-wide performance and foster a comprehensive approach to leadership excellence.

Winners will be honored at special ceremonies during the 2023 MDRT Annual Meeting (June 25-28 in Nashville, Tennessee, USA) and the 2023 MDRT Global Conference (August 27-30 in Singapore). The Culture of Excellence Awards are the only awards bestowed by the MDRT Family of Brands.

Global Services members are field and home office leaders who continually work to broaden their leadership skills, establish an MDRT culture of excellence within their agencies, and advance professionally and personally. They are empowered and inspired year-round by educational content, peer-to-peer study groups, webcasts, attending MDRT meetings, and other Global Services tools and resources.

Within that fast-growing global community, the Culture of Excellence Awards are bestowed upon the "best of the best" – agency leaders who track and submit results in production, recruitment, retention, persistency, work/life balance ("Whole Person") and MDRT membership. The 5 Diamond Agency winners achieved at least five of the six criteria; 15 Platinum Agency winners achieved four of six criteria, and 111 Gold Agency winners achieved three of six criteria.

Special mention goes to the following companies with the highest number of 2023 Culture of Excellence Award winners: Pru Life Ins Corp of UK – 69 award winners, Prudential Assurance Company Singapore (PTE) Limited – 24 award winners, and Great Eastern Life – Singapore – 22 award winners. The full list of winners is found on the Global Services website at .

"The Culture of Excellence Awards are the most prestigious field leadership awards in the financial services profession," said Peggy Tsai, RFP, CCFP, 2023 MDRT President and an agency leader at Shin Kong Life Insurance Co. in Taipei, Taiwan. "MDRT Global Services creates a community of financial services leaders committed to excellence in the profession, and winning this award recognizes their ability to galvanize and coach their teams to become the best. It is noteworthy that there are seven winners from Hong Kong this year. Although Hong Kong is a small city, the quality of her financial service leaders is unquestionable and their performances deserve applause. I hope the leaders will continue to contribute to our industry and more of them from different places will make the winner list in the future."

About MDRT Global Services
As the newest association under the global MDRT Family of Brands, MDRT Global Services was created exclusively for financial services field and home office leaders. As a separate, individual membership association, MDRT Global Services provides its members with exceptional value and leadership growth opportunities. MDRT Global Services membership allows increased engagement within the MDRT community while providing leaders with strategies to develop a culture of excellence within their respective organizations. To learn more visit

Copyright 2023 ACN Newswire. All rights reserved.

T4 Banking Philippines 2023: Trends, Tactics, Trust Building Components, and Technology in the Philippine banking landscape

MANILA, May 4, 2023 – (ACN Newswire) – As one of Philippines' premium conference brands for banking community, T4 Banking is considered as a bridge, and an arena where we connect the thinkers, innovators, disruptors and most importantly all of the decision-makers in the Philippine banking ecosystem.

The live, in-person event will be the gathering of all business executives from banks, financial regulators, pan-financial companies, and technology solution providers across the entire country. The 2023 Edition with the theme "Digital readiness and the future of banking in the Philippines" will be hosted on August 17, 2023 in The Manila Hilton Hotel, where you can expect to see more than 300 high profile delegates such as Technical Directors, CEO, CIO, CTO, CDO, Risk Control Directors, Information Security Heads, and a lot more.

The event is strongly committed in providing its audience deeper knowledge with 4 Ts – Tactics, Trends, Trust Building Components, and Technology in the Philippine banking landscape. The community aims to accelerate the transformation to a future digital banking ecosystem. This conference will be a closed door, B2B oriented forum. Varies type of arrangements will be presented during the event such as lucky draws, interactive panel discussions, roundtable luncheon, booth making contest, one-to-one private meetings, networking and awards-giving.

This is not your ordinary conference. We will be bringing the highest level of excitement and energy showcasing the world's top banking technology providers and bank participants, all in one roof!

1. Data governance mechanisms to drive bank performance
2. Banks evolving as API providers: Open banking takeaways
3. Artificial intelligence for the banking ecosystem
4. Bank intelligent branches and digital tools
5. AI: The secret sauce to banks risk management strategy
6. The fundamental elements of core modernization for banks
7. Digital customer banking experience: From journeys to intent
8. Cybersecurity in banking: Importance, threats, and challenges
9. Banking risk and compliance management 2023 outlook
10. Upgrading bank marketing technology to become future-ready
11. Philippine banking: Talent acquisition, development, retention and engagement
12. Global banking innovations and emerging technology trends

For sponsorship, and speaking engagement please contact our event director at or visit our event website at

Don't miss the opportunity to be a part of the biggest event in the Philippine banking ecosystem! Witness how we gather all of the leading experts in the industry and share their thoughts and insights with very timely topics.

Copyright 2023 ACN Newswire. All rights reserved.

Chiratae Ventures Maiden Growth Fund-I announces its close at INR 1001 cr, oversubscribed by 34%

Singapore, May 3, 2023 – (ACN Newswire) – Chiratae Ventures, India's largest homegrown venture capital fund, has successfully concluded the fundraising for its first Chiratae Growth Fund (CGF-I), raising INR 1001 cr. On a targeted INR 750 crore, CGF-I has been oversubscribed by 34%. The announcement of the close of CGF-I comes on the heels of Fund 4, which was oversubscribed by 22%. This marks a continued trend of Chiratae's funds being oversubscribed, highlighting the confidence and faith placed in the firm's ability to identify and nurture promising startups poised for growth and success.

CGF-I will invest in the growth rounds of market-leading technology startups from its portfolio and other new opportunities, making it a sector-agnostic fund to support the growth and expansion of companies.

CGF-I is supported by Chiratae's existing investors, including Pratithi (Family Office of Kris Gopalakrishnan, the Co-Founder of Infosys), 57 Stars (a global alternative asset manager) and Manish Choksi (Vice Chairman and non-executive board member of Asian Paints) and his Family Office and, new investors including State Bank of India, India Infoline Limited (IIFL), Axis Bank and others. With this new CGF-I, Chiratae Ventures will continue its mission of supporting innovative technology startups in their growth stage and unlocking their potential.
Chiratae Ventures has a successful track record of investing in early and growth-stage startups over the past 16 years. The Chiratae Funds collectively (across 6 funds) have $1.1 Bn in AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to the investors in each of the last 12 years. Chiratae Ventures has been an early backer of technology-led companies such as Bizongo, Curefit, Fibe, Firstcry, Lenskart, Myntra, PolicyBazaar, Pixis, Vayana, and Uniphore, amongst others.

Sudhir Sethi, Founder and Chairman of Chiratae Ventures, said, "We are excited to have raised our first Growth Fund, enabling us to continue supporting the growth and expansion of market-leading technology startups in India and beyond. The oversubscription of the fund by 34% is a testament to the trust and confidence our investors have placed in us. As we embark on this exciting new chapter, we remain committed to identifying and investing in innovative startups that have the potential to drive transformative change and create long-term value. Thank you to our existing investors Pratithi (Family Office of Kris Gopalakrishnan, the Co-Founder of Infosys), 57 Stars (a global alternative asset manager) and Manish Choksi (Vice Chairman and non-executive board member of Asian Paints) and his Family Office and, we welcome the new ones, State Bank of India, IIFL, Axis Bank and others."

On closing the Chirataes' first Growth Fund, TC Meenakshi Sundaram, Founder and Vice-Chairman of Chiratae Ventures, said, "The successful fundraising for Chiratae's First Growth Fund is a testament to the quality of the investment strategy and our team's ability to identify and support exceptional entrepreneurs. With the Growth Fund -I, we are well-positioned to continue to support promising startups through their growth journey and create value for all stakeholders by becoming market leaders. We thank all our investors for their continued support to Chiratae."

About Chiratae Ventures

Chiratae Ventures is a 16-year-old Indian technology venture capital fund, which collectively (across 6 funds) has $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The Chiratae funds have investments across sectors such as Consumertech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Myntra, Flipkart, Lenskart, FirstCry, PolicyBazaar, Bizongo, Uniphore, Pixis, and Fibe, amongst many others.

Chiratae Ventures's Global Advisory board consists of esteemed personalities such as Mr Ratan Tata (Chairman), Mr Kris Gopalakrishnan, Mr Manish Choksi (Vice Chairman Asian Paints), Mr Bruno Raschle (Founder Adveq Zurich), Dr Andreas Hettich (Chairman Hettich Corporation Germany) and Dr Ferzaan Engineer (Founder Cytecare and Nightingale).

Namrata Sharma

Copyright 2023 ACN Newswire. All rights reserved.

Asia’s insurance leaders to gather at InsureTech Connect Asia in Singapore to discuss the future of insurance

SINGAPORE, Apr 18, 2023 – (ACN Newswire) – The second annual InsureTech Connect Asia will take place in Singapore from May 30 to June 1, 2023, where insurance industry leaders, professionals, and InsurTech providers from across Asia and beyond will convene to share their successes, strategies, and plans for the future of insurance.

The event will kick off with an opening keynote by Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore (MAS). Mr. Mohanty will share his vision of the future of fintech and its impact on the insurance industry. Following the opening keynote, there will be a keynote panel on "Developing a Future Proofed Workforce." The panel will be moderated by Simon Phipps, and will feature Peta Latimer, CEO of Mercer Singapore, Clemens Philippi, CEO Asia of MSIG, and Rishi Srivastava, CEO – Group Agency Distribution of AIA. The panelists will discuss how to develop a workforce that is equipped to tackle the challenges of a rapidly evolving industry.

They will be joined by over 200 leaders representing insurance companies, investors and InsurTechs across Asia sharing their insights as they take the stage with interactive panel discussions over the three days.

Alongside the conference, over 100 InsurTech solution providers, including Income, Aon, Munich Re, Swiss Re and more will be on-floor to showcase how they are transforming the insurance industry in Asia. Additionally, the exhibition will also witness InsurTech startups across the region compete in the ITC Asia Awards finals and the Pitch Competition hosted by Lloyd's Labs.

"We are thrilled to have such esteemed experts and executives from the insurance world joining us for this event," said Tricia Wong, Director of InsureTech Connect Asia. "Their insights and experiences will provide attendees with a comprehensive understanding of the key issues and opportunities facing the industry, and how to prepare for the future."

InsureTech Connect Asia 2023 will take place at Sands Expo & Convention Centre, Singapore from 30 May to 1 June 2023. For more information on InsureTech Connect Asia, please visit

InsureTech Connect Asia 2023
Date: 30 May – 1 June 2023
Conference opening hours:
Exhibition opening hours
Sands Expo & Convention Centre, Singapore

About InsureTech Connect

InsureTech Connect (ITC) is the world's largest insurtech event, offering unparalleled access to the largest and most comprehensive gathering of tech entrepreneurs, investors, and insurance industry executives from across the globe. ITC has been attended by over 25,000 people from 65+ countries. Founded in 2016, ITC has established itself as the biggest insurtech event in its US location in Vegas and has launched a new venture in APAC with ITC Asia in Singapore. ITC Asia will be held 30 May – 1 June 2023 at Sands Expo & Convention Centre, Marina Bay Sands. ITC is also the leading source of insurtech webinars, knowledge and meetings.

For more information, please visit

Copyright 2023 ACN Newswire. All rights reserved.

Sunshine Insurance: Creating a New Customer Strategy and Fully Promoting High-Value Development

HONG KONG, Apr 11, 2023 – (ACN Newswire) – As a stabilizer of the country and society, in recent years, China's insurance industry has played an important role in compensating for disaster losses, maintaining social stability, and supporting China's economic development. On March 29, 2023, Sunshine Insurance Group ("Sunshine Insurance" or "the Company," 06963.HK), a rapidly growing private insurance service group in China, announced its full-year performance for the year ended December 31, 2022.

In 2022, Sunshine Insurance adhered to its focus on the insurance industry and value development, and all business segments maintained a good development trend, achieving steady and healthy growth in overall business performance. The total revenue for the year was 128.58 billion (RMB, Yuan, the same as below), a year-on-year increase of 7.2%. The net profit attributable to the shareholders of the parent company was 4.88 billion. The total premium income was 108.74 billion, a year-on-year increase of 6.9%; among them, the premium income of Sunshine Life Insurance was 68.3 billion, a year-on-year increase of 12.3%, and the premium income of Sunshine Property and Casualty Insurance was 40.38 billion.

Pushing forward the "Vertical and Horizontal Partners" strategy and effectively increasing the number of customers has seen rapid growth.

The 20th National Congress report regards "qualitative and effective improvement with reasonable growth in quantity" as the intrinsic requirement for high-quality economic development. Sunshine Insurance has taken this as the fundamental guideline and direction for the company's development, upholding the value development concept. According to the annual report, Sunshine Insurance achieved embedded value of 101.27 billion in 2022, an increase of 8.0%. Sunshine Life Insurance achieved new business value of 3.02 billion in one year, which is a rare positive growth in the industry. In the future, the company will continue to adhere to the value development concept, leading to a steady improvement in overall business performance.

In recent years, the industry as a whole has entered a period of deep adjustment and transformation. Faced with increasingly diversified and differentiated customer demands, the insurance supply side also needs to proactively adapt to new customer demands and listen to new customer voices. In terms of customer management, Sunshine Insurance takes the "Vertical and Horizontal Partners" strategic plan as a starting point, deeply implementing the "Vertical and Horizontal" plan for individuals and families, and building multi-level and differentiated product service ecosystems that cover the entire life cycle of families around core needs such as health, pension, children's education, and wealth management. In addition, the company takes "Partner" actions for enterprise organizations, providing a system integration of risk solutions for corporate clients, promoting Sunshine's transformation from a simple economic compensation insurance provider to a risk management service support provider, and winning a rapid increase in effective customers. According to the annual report, as of the end of 2022, the company had approximately 32.88 million effective customers, providing strong support for the company's business growth with a huge user base.

The company is fully promoting digital transformation and technological innovation, actively fulfilling its social responsibilities.

While focusing on its main business, Sunshine Insurance is comprehensively promoting digital transformation and technological innovation, promoting online and intelligent business operations, and enhancing the company's value. Sunshine Life Insurance is promoting the application of digital technology in sales support, customer service, risk prevention, and other aspects, empowering business and operational efficiency. Sunshine Property and Casualty Insurance is leveraging core technologies such as big data, artificial intelligence, cloud computing, and the Internet of Things to empower service, sales, claims, products, operations, and the entire ecosystem of the business process and its peripheral areas. The company won 14 external technology innovation awards and obtained 13 new authorized patents in 2022. It can be anticipated that with the continuous acceleration of digital transformation, the company's operational efficiency will continue to be optimized, and its foundation for high-quality development will be further consolidated.

It is worth mentioning that since its establishment, Sunshine Insurance has always remembered its original mission and actively fulfilled its social responsibilities. According to the annual report, in 2022, the company provided risk protection of 44.5 trillion for the real economy, provided risk protection of 82.2 billion for the "Belt and Road" project, provided risk protection of more than 170 billion for small and micro enterprises, helped small and micro enterprises obtain financing of 14.5 billion, and provided green insurance protection of nearly 60 trillion. The sustainable investment balance more than 40 billion, contributing Sunshine's strength in serving the real economy, protecting people's livelihood, promoting common prosperity, and promoting a green China.

Overall, in 2022, facing the turbulent international environment and arduous development tasks, Sunshine Insurance responded promptly and rose to the challenges, delivering a satisfactory "report card." Zhang Weigong, the founder, the Chairman, and CEO of Sunshine Insurance Group, said, "The company will continue to adhere to its development strategy, promote high-quality development and high-value growth through reform and transformation measures, and strive to build the company into a customer-driven high-value growth insurance group." In the future, the company will strengthen its core competitiveness, fully exert its insurance protection function, provide high-quality product services to customers, escort the stable operation of the economy, and create more value for shareholders and investors.

Copyright 2023 ACN Newswire. All rights reserved.

Sunshine Insurance Released 2022 Annual Results: Keeping a High-quality and Steady Development

HONG KONG, Apr 6, 2023 – (ACN Newswire) – On March 29, Sunshine Insurance Group ("Company" or "Sunshine Insurance") released its first results report after going public. Looking back at 2022, the Chinese insurance industry faced multiple challenges, including increased marketing difficulties, weaken consumer willingness, and market volatility, etc. Under this backdrop, In the Annual Results Announcement on March 30, Mr. Zhang Weigong, the founder of Sunshine Insurance, said," Sunshine has successfully passed this high-intensity stress test". Meanwhile, he also stated that the whole company has further established customer-oriented thinking through some measures and reforms, " The overall improvement of customer-oriented thinking was the biggest progress for Sunshine Insurance in 2022". Sunshine Insurance focuses on its core insurance business, continuously strengthens the company's value development capabilities, maintains steady growth in overall business performance, and highlights the company's strong business resilience.

Overall, Sunshine Insurance Group's total assets in 2022 increased steadily, with continuous growth in premium income . As of the end of 2022, the company's total assets were approximately RMB 485.36 billion, an increase of 9.9% compared to the beginning of the year. The company achieved total income of RMB 128.58 billion, a year-on-year increase of 7.2%; among which the total premium income was RMB 108.74 billion, a year-on-year increase of 6.9%. The company achieved a net profit attributable to shareholders of RMB 4.88 billion.

Business development has shown great resilience and value creation capabilities continue to strengthen

In 2022, Sunshine Insurance Group adhered to the development philosophy of "Stability and Excellence," continuously optimized channel layout, accelerated model innovation, maintained stable growth in premium scale, continuously increased intrinsic value, and maintained a stable business structure. As of the end of 2022, the company's intrinsic value was approximately RMB101.27 billion, a year-on-year increase of 8.0%, continuing to maintain a good growth trend.

In the life insurance business, Sunshine Life Insurance adhered to a value-led approach and continued to solidify the foundation for business development through a diversified and collaborative channel development model, with a focus on "multi-line development." In terms of channels, the agency channel accelerated its transformation, and the per capita productivity further increased, with a 31% year-on-year increase in the number of MDRT qualified agents. The bancassurance channel focused on value development, and the renewal rate improved year by year. In addition, Sunshine Life Insurance also continued to accelerate the development of other channels and optimize its business structure. In 2022, Sunshine Life Insurance achieved new single-period premium income of RMB 14.75 billion, a year-on-year increase of 9.3%; the new business value was RMB 3.02 billion, achieving a counter-trend positive growth trend in the context of pressure on new business value across the industry.

In the property insurance business, Sunshine Property Insurance continued to deepen its personal customer management, enhance its risk management service guarantee, and saw rapid improvement in profitability. Business development in all insurance categories accelerated, and the comprehensive claims ratio and comprehensive expense ratio decreased by 1.6 and 3.6 percentage points year-on-year respectively. The application of intelligent life tables in auto insurance continued to improve, while the non-auto insurance risk identification and product pricing capabilities steadily increased, and risk reduction management showed initial results. In 2022, Sunshine Property Insurance achieved a premium income of RMB 40.38 billion, achieving a net profit of RMB 1.602 billion.

Promoting digital transformation comprehensively and open up future growth space with scientific and technological strength

Currently, the insurance industry has entered a new stage of digital transformation. Sunshine Insurance Group focuses on process optimization and the application of data and models, continuously improving its core capabilities in digital customer insights, digital marketing, digital product innovation, digital risk control, and digital operations, promoting the improvement of the company's operational efficiency and service quality, promoting the improvement of the company's operating efficiency and service quality.

In terms of customer service, Sunshine Life Insurance relies on the "My Sunshine" App intelligent service platform to provide customers with a 7×24-hour ultimate service experience, achieving effective connection between customers and the company. As of 2022, the My Sunshine App has accumulated 4.022 million users, and served 60.743 million users throughout the year. Sunshine Property Insurance relies on the Sunshine Online platform to continuously optimize customer service processes and provide customers with one-stop convenient services. It has served more than 120 million customers with a service satisfaction rate of up to 94%.

In terms of risk prevention, Sunshine Insurance Group uses big data and machine learning technologies to continuously improve its risk identification and risk control capabilities. Taking life insurance as an example, Sunshine Life Insurance combines customer protection needs, health trends, and industry regulations to deepen the field of health big data, promote health big data projects, and match product demand for thousands of people based on individual customer health. The company has developed predictive model for risk and improved the accuracy of pricing long-term insurance products, as well as the ability to prevent risks before they occur. These efforts have helped to promote the company's value development.

Technology is the next competitive field for insurance companies. Sunshine Insurance, which is at the forefront of the industry, continues to promote digital upgrades, enhance its competitive advantages, and is expected to open up a new blue ocean of value and win greater opportunities for future development.

In the future, Sunshine Insurance Group will continue to adhere to its core business and focus on its main responsibilities, continuously upgrade and enrich its product supply, optimize its business layout, strengthen technological innovation, continuously stimulate the company's internal dynamic and development vitality, and stride towards on the road of high-quality development.

Copyright 2023 ACN Newswire. All rights reserved.

Sunshine Insurance Announces 2022 Annual Results

HONG KONG, Apr 3, 2023 – (ACN Newswire) – Sunshine Insurance Group Company Limited ("Sunshine Insurance" or "The Group"; SEHK stock code: 6963.HK) is pleased to announce the annual results for the year ended 31 December 2022 (the "Reporting Period").

2022 Annual Results Highlights:
— Revenue increased by 7.2% YoY to RMB128.58 billion, in particular, total income increased by 6.9% YoY to RMB108.74 billion;
— FYRPs of Sunshine Life increased by 9.3% YoY to RMB14.75 billion;
— The value of one year's new business was RMB3.02 billion, realising positive YoY growth;
— Premiums of Sunshine P&C reached RMB40.38 billion, realising underwriting profits;
— Net profit attributable to equity owners of the parent reached RMB4.88 billion;
— Embedded value increased by 8.0% to RMB101.27 billion.

The year 2022 was a very unusual and extraordinary year. Facing with the stormy international environment as well as the difficult and heavy task of stable reform and development in China, and under the times of coexistence of both opportunities and challenges, the Group responded to the times and the challenges, insisted on the development concept of "Prioritize Stability, Prioritize Good", cultivated new opportunities in the crisis and opened up new situation in the changes, focused on insurance as the core business and strove to value development, provided momentum for business development through innovation and successfully achieved all business targets.

Focus on Insurance as the Core Business to Write a New Chapter of High-quality Development

As a fast-growing insurance enterprise in China, the Group has never forgotten its original intention, and adhered to its mission of "bring more sunshine to people", assuming the role of economic "shock absorber" and social "stabilizer". In 2022, the Group focused on insurance as the core business, fully balanced insurance business, made steady growth in overall operating results and continuously enhanced its capability for value creation. The total income increased by 7.2% YoY to RMB128.58 billion, embedded value increased by 8.0% to RMB101.27 billion and net profit attributable to equity owners of the parent reached RMB4.88 billion.

For life insurance, in 2022, with the volatile global economic environment, the transformation of insurance industry was experiencing challenges. In this regard, Sunshine Life persisted in striving to create value and actively explored new ideas for development based on its profound understanding of the market environment and changes in customer demand. Through the insight of customer demand, team transformation and upgrading, product system improvement, service system construction, digital innovation and other measures, the Company continuously promoted the high-quality and healthy development. During the Reporting Period, our GWPs was RMB68.30 billion, increased by 12.3% year on year; The value of one year's new business was RMB3.02 billion, achieving a rare positive growth in the industry.

For property and casualty insurance, the Group mainly provided property and casualty insurance products and services through Sunshine P&C. During the year, Sunshine P&C enhanced profitability capacity, optimized business structure, and further consolidated the foundation of high-quality development. During the Reporting Period, Sunshine P&C achieved anet profit of approximately RMB1.6 Billion, with loss ratio of 65.0%, and expense ratio of 34.9% according to the data. In the whole year, the OPI was RMB 40.38 billion.

Practice Value Development to Demonstrate Long-term Investment Value

In addition to focusing on insurance as the main responsibility and core business, the Group has also persisted in practicing value development, focused on asset-liability management while improving customer operation capabilities, and built a solid development moat for consolidating its own industry position. According to the result report, in 2022, the Group achieved a total investment yield of RMB20.13 billion, increased by 5.4% year on year; The total investment yield was 5.0%. The Group has also continuously improved its comprehensive investment management capability and customer service level among multiple assets, strategies and customers, and the asset management scale of third party reached RMB414.98 billion, increasing by 21.4% year on year.

In terms of customer operation, Sunshine Life adopted a customer-oriented business model and implemented a "Two-Dimensional Plan" around the whole life cycle of customer's family, and constantly improved the construction of "Insurance plus Service" products and ecological service system. By the end of 2022, the number of effective customers of Sunshine Life had reached 14.95 million; Sunshine P&C continued to deepen the insight research of customer demand, steadily promoted the implementation of "Partner Action", and helped corporate customers achieve risk reduction and value improvement. In 2022, it provided scientific disaster mitigation and professional risk consulting services to more than 4,300 important corporate customers. By the end of 2022, the number of effective customers of Sunshine P&C reached 18.72 million.

Under the background of focusing on the main business of insurance, the market share of both life and health insurance and property and casualty insurance being at the top and adhering to value development, the Group's intrinsic value is expected to receive long-term attention from the market with the subsequent growth in performance, and its operational resilience and long-term investment value will fully emerge. Recently, securities dealers, such as CICC, Huatai and Soochow, have released in-depth analysis research reports on Sunshine Insurance (06963.HK), rating the Group as "Outperform" and "Buy", etc. It is expected that the Group's target stock price in 2023 still has more than 25% upside compared with the current price, and its long-term investment value is highly recognized by the industry.

Driven by "Entrepreneurship Gene + Culture Guidance" to Build Strong Comprehensive Strength

Sunshine Insurance has maintained a good growth momentum. The internal energy brought by the company's development focus of "sticking to the main business and pursuing value" comes from the company's unique, solid, systematic and complete Sunshine culture, and the source of Sunshine Insurance culture from its original entrepreneurial gene. As an entrepreneurship-driven company, Zhang Weigong, the founder of Sunshine Insurance, led his entrepreneurial team to visit 17 provinces and cities in China, visited and negotiated with 389 companies, and identified shareholders who shared the same vision and then founded Sunshine Insurance in a market-oriented way. The entrepreneurial spirit of "Challenge and Persevere" formed during the start-up period of Sunshine Insurance, laid the foundation for its continuous development and growth in the future. Meanwhile, Sunshine Insurance insists on "Cultural Governance". From the entrepreneurial spirit to the core culture of "Sunshine Way" formed before the company opened, to today's systematic and complete Sunshine cultural system, it has become the internal driving force for Sunshine's development. The company's core values have been established. Penetrating into all aspects of management, so that the company always has the core competitiveness in the fierce market competition.

It is worth mentioning that, with the support of the "Entrepreneurship Gene + Culture Guidance", Sunshine Insurance remained true to its social responsibility and commitment, served the real economy and practiced sustainable development through concrete actions. In 2022, Sunshine Insurance provided risk coverage of RMB44.5 trillion, RMB82.2 billion and over RMB170 billion for the real economy, the Belt and Road projects as well as 12,000 micro, small and medium-sized enterprises respectively. It helped small and medium-sized enterprises finance RMB14.5 billion. Additionally, the Group provided green insurance coverage of RMB60,000 billion for 16.35 million enterprises and individuals. By the end of 2022, sustainable investment balance amounted to RMB42.72 billion.

The year 2023 is the opening year for the full implementation of the spirit of the 20th National Congress of the Communist Party of China and the construction of Chinese modernization. In the future, Sunshine Insurance will adhere to its main business and focus on its main responsibilities, identify its own development direction while serving Chinese modernization, and realize the scale effect so as to obtain stable growth. At the same time, Sunshine Insurance will continue to follow the trend of digital transformation of the financial industry, seize the opportunities of empowering innovation in various fields, usher in broader development margin in the wave of insurance industry changes, and continue to advance towards the goal of building a high-value insurance group oriented to the needs of customers.

About Sunshine Insurance Group Company Limited
Sunshine Insurance Group Company Limited is a fast-growing private insurance service group in China. Since its establishment, the Group has focused on value creation and been committed to providing customers with professional risk coverage and integrated service solutions. The Group carries out life and health insurance business through Sunshine Life, property and casualty insurance business through Sunshine P&C, and manages insurance funds through Sunshine AMC. As of December 31, 2022, the Group has been ranked among the top 500 Chinese enterprises by the China Enterprise Confederation for 12 consecutive years and has been entitled as one of the "Top 500 Valuable Brands in China" by the World Brand Lab for 11 consecutive years.

Copyright 2023 ACN Newswire. All rights reserved.

Collections & Recovery Summit: India’s Very First Collection-Focussed Conference & Exhibition

MUMBAI, Mar 17, 2023 – (ACN Newswire) – Team the Future Event organized India’s first Collection-focused conference & Exhibition: Collections & Recovery Summit- India, on 23rd & 24th February, 2023 at the Taj President Hotel, Mumbai. This networking event was aimed to bring together India’s top industry experts to discuss the latest technology and digital transformation strategies to overcome challenges and empower organizations to be future ready with strengthened operations, increased productivity and improved customer experience in the Debt & Loan Collections, Subscriptions & Renewals and Credit Processes.

With 500+ handpicked attendees, this conference was sponsored by almost 20 industry leaders along with 20+ Media Partners! With Uniphore being the Platinum Sponsor and Clear Touch, Enterprise Tiger & GoCollect (Credility) joining as the Gold Partners, Credgenics was the official Collections Technology Partner. Some of the other key sponsors and solution providers that demonstrated their solutions are Ezetap by Razorpay, SingleDebt,,, Alohaa, UltraCash, Dista, CLXNS Technologies Pvt Ltd, Taurus Collection, Easy Recovery, Provakil, ILeads & Ikontel Solutions Pvt Ltd.

In the word of Uthaman Bakthikrishnan, Executive Vice President at ClearTouch, “Me & my colleague would like to thank the Future Event for organising such an event where it is very clear that each one of the attendees have been hand-picked since whoever is here, is really interested & genuine with their questions. It is a lot more exciting because this is the very first Collection-focussed event in India!”

The Collection and Recovery Summit- India featured an array of keynote speakers and panel discussions, providing attendees with valuable insights and knowledge on topics such as debt collection, credit management, bankruptcy, and financial recovery. Some of the key topics that were covered during the 2-day summit were:

  • Weaving Collections and Recovery into Business Strategy
  • Maintaining a Positive Customer Experience During Collections
  • The Importance of “self-service” platforms
  • Managing Multichannel Debt Collection Model
  • Decoding the Scope, Scale and Challenges of the BNPL
  • Understand consumer sentiment and preferred channels
  • Rise of ECommerce Subscriptions
  • Customer communication and engagement

“We were excited to bring together the best and brightest minds in the debt collection and credit management industry for the Collection and Recovery Summit India,” said a representative of the event organizer. “This summit was an opportunity for professionals across the industry to share their expertise, learn from one another, and explore the latest trends and innovations that are shaping our industry.”

While 45+ expert speakers took the stage to discuss & provide their insights on the latest strategies, innovations, and challenges in the industry, the 100+ pre-scheduled meetings provided the attendees with ample networking opportunities to connect with peers, industry experts, and solution providers. This allowed them to gain new insights and perspectives, as well as build new partnerships and collaborations that can help them improve their practices and achieve better outcomes. Apart from this, the summit was also attended by 40+ solution providers and 15+ exclusive exhibitors.

When Harish B. Parmar, Founder at SingleDebt, a Silver Sponsor for the event, was asked about how SingleDebt was different from traditional collection companies, he said, “What we do we actually represent the creditor and also most importantly the debtor. In this case the debtor comes to us with their issues and we find a payment plan that will help them repay back the debt. Because most of the debtors won’t have 1 creditor but will have five or six creditors and they will be struggling to pay all of them. Because they are struggling to pay all of them and these creditors are chasing them, we work out an affordable payment plan that they can afford to pay all the five creditors. That’s how we are different than the traditional lending companies.”

The Collection and Recovery Summit India is a leading event in the debt collection and credit management industry, bringing together professionals from across the sector to discuss the latest trends, innovations, and challenges in the field. The summit provides attendees with valuable insights and networking opportunities. The Collections & Recovery Summit- India was the debut conference & exhibition of the chain of summits that will be organised by team The Future Event all across the globe. For more information on the upcoming events, visit:

Jamal Alturaby
The Future Event Media & Productions
Phone: +91 888 4144 691

Copyright 2023 ACN Newswire. All rights reserved.

A Reimagined Vision of The Future of Digital Banking

DUBAI, Mar 16, 2023 – (ACN Newswire) – "Our challenges have changed but we still share similarities with ancient banking times, when we were all looking for fast-paced abilities to adapt banking delivery to our lifestyle challenges," said Noelia Romanillos – Head of Financial Services GTM South Europe & UKI at ServiceNow – at this year's 2nd Annual Future Banks Summit MENA which took place last week at Swissotel Al Murooj, Dubai, UAE. In a highly digitalized world, we tend to notice an ongoing trend – every aspect of society is going through a technological transformation, especially when we're looking at banking and finance. Today, both individuals and corporations have the ability – round-the-clock – to look into their financial information, make payments and proposals, and perform a whole host of transactions with the click of a few buttons.

This month, Verve Management hosted its 2nd Annual Future Banks Summit MENA, where attendees explored the path to fintech transformation within the region, eventually making it a global leader in finance. This has much to do with the region embracing advances in technology, to steer the industry toward the direction of delivering efficient products and services to a young demographic in order to meet the expectations of the digital consumer. Concerning untapped potential, the region is well-positioned to become a sizeable territory for effective digital banking innovation, which is what key industry professionals focused on throughout the course of the two-day summit.

This heightened digitalization can, however, be a double-edged sword. Through the course of his keynote discussion on the era of digitalization, Vilmos Lorincz – Managing Director of Data Products at Lloyds Banking Group UK – provided the attendees with insight on rethinking business strategies in order to flourish within the ecosystem. "The compliance level is just the baseline; it's really important that you protect the data of people, ethically." He said, emphasizing the importance of data protection. The distinguished use of digitalization within the BFSI sector pushes the requirement for substantial regulations in order to eradicate any negative outcomes on both the workforce and the end consumer.

Through digitalization, the banking sector is viable to both innovation and a rise in entrepreneurship; however, some corporations are still wary about going digital due to the high level of risk involved. "Security and compliance must become part of the culture of organizations to mitigate risk truly," said Kiran Bafna – Managing Director – APAC, India & Japan at Thomson Reuters – on his views surrounding the steps taken to enable cultural change in a truly modern technological ecosystem. "Only if technological integration is in line with an organization's vision, true integration can take place," he added.

Some of the corporations in continual support of the Future Banks Summit MENA this year were our Gold Sponsors – Kissflow, ServiceNow & Enfint; our Silver Sponsor –; our Bronze Sponsors – eMudhra, Keyless Technologies, Creatio + Banza, & Thought Machine; our Networking Sponsor – Trejhara; and our Associate Sponsor – System Technologies.
All in all, Verve Management was honored to be in the presence of some of the most renowned thought leaders – both internationally and regionally – focused on one goal, which was to explore the MENA region's financial landscape and the process through which it is driven by innovation and technological advancement.

Verve Management
Isha – Marketing Executive
Dubai, UAE

Copyright 2023 ACN Newswire. All rights reserved.