The Financial Supervisory Commission yesterday said it has approved Nan Shan Life Insurance Co’s (南山人壽) appointment of vice chairman Yin Chung-yao (尹崇堯) as company chairman.
The commission in December 2019 rejected Yin’s appointment, citing his lack of solid experience in the life insurance business as he had only joined the company in 2016.
However, having worked for six years now at Nan Shan by serving in different departments, Yin is eligible for the chairmanship, the commission said yesterday.
Photo courtesy of Nan Shan Life Insurance Co
The 39-year-old Yin is the son of Ruentex Group (潤泰集團) chairman Samuel Yin (尹衍樑). The group holds about 90 percent of the life insurer’s shareholdings, company data showed.
The youngest chairman of Nan Shan, Yin Chung-yao would succeed 90-year-old Donald Chen (陳棠).
In a letter to Nan Shan employees on Monday, he wrote that he looks forward to working with all staff as the company is marking its 60th anniversary this year.
Despite the challenges ahead, including the COVID-19 pandemic, global geopolitical and economic concerns, and the implementation of the International Financial Reporting Standards 17, he said he is confident that the company would do well.
Corporate governance, financial technology, insurance value and social responsibility would be Nan Shan’s four core strategies, it said.
The new chairman also expressed an interest in heading the Life Insurance Association, which is to hold an election at the end of this month, another letter issued to all members of the institution showed.
“The industry has expected closer communication and integration among life insurers, and a smoother interaction with the FSC,” he said. “I hope to contribute myself and to create more value for the industry and society.”
Transglobe Life Insurance Co (全球人壽) board member Chen Huei-yu (陳慧遊) has also announced a bid for the position.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. However, while these “revelations” are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content creators who portray themselves as workers or subcontractors in the luxury goods business claim that Beijing has lifted confidentiality clauses on local subcontractors as a way to respond to the huge hike in customs duties imposed on China by US President Donald Trump. They say this Chinese decision, of which Agence
RSS