Transglobe Life Insurance Co (全球人壽) board member Chen Huei-yu (陳慧遊) yesterday was elected as chairman of the Life Insurance Association of the ROC (壽險公會), beating out Nan Shan Life Insurance Co (南山人壽) chairman Yin Chung-yao (尹崇堯) in a two-round vote.
The 55-year-old Chen became the ninth chairman of the trade group of local life insurers, with predecessors including Cathay Financial Holding Co (國泰金控) chairman Tsai Hong-tu (蔡宏圖), Cathay Life Insurance Co (國泰人壽) chairperson Huang Diao-kuei (黃調貴) and General Chamber of Commerce of the ROC (全國商業總會) chairman Paul Hsu (許舒博), the agency’s data showed.
In the first round, 86 association members voted to elect 21 directors, and in the second round, the 21 newly elected directors voted for the new chair.
Photo: CNA
Yin did not obtain enough votes to be elected as a new director in the first round of voting.
Chinese-language news outlets reported that Yin only obtained votes from representatives of Nan Shan Life and Cathay Life, while Chen was backed by Fubon Life Insurance Co (富邦人壽), Shin Kong Life Insurance Co (新光人壽) and members from other smaller life insurers, including China Life Insurance Co (中國人壽), Taiwan Life Insurance Co (台灣人壽), Mercuries Life Insurance Co (三商美邦人壽保險) and Chunghwa Post Co’s (中華郵政) life insurance unit.
Chen said in a statement that he would seek to bridge life insurers, the government, the legislature and the public, respect life insurers of all sizes, and help members develop new insurance policies and adapt to the stricter International Financial Reporting Standards 17.
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