HONG KONG and SHANGHAI, Dec. 3, 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEx:2318; SSE:601318) has received two awards at the Directors Of The Year Awards 2019, organized by the Hong Kong Institute of Directors. Ping An's Board of Directors won the Board award in the Listed Companies Boards category for its outstanding corporate governance. Dr. Ma Mingzhe, Chairman and CEO of Ping An, received the individual award in the Listed Companies Executive Directors category for adopting global practices in corporate governance and risk management and innovation in corporate governance.
The panel of judges said, "The Board of Directors of Ping An has a strong understanding of the Group's business and strategic priorities. As a firm believer in corporate governance, the Board has established an effective performance evaluation mechanism to ensure the diligence of directors and senior management to safeguard the Group's assets and shareholders' interests. The Board has balanced perspectives on risk management, technology management, ESG (Environmental, Social and Governance) development, talent pipeline and succession planning. As it is committed to best corporate governance practices, the Board fully merits the award."
The panel of judges also spoke highly of Dr. Ma, saying he has adopted best global practices in corporate governance and risk management, resulting in a corporate culture that supports technology innovation, transparency, integrity, strong communication, and social responsibility.
Ping An's Board of Directors received Directors Of The Year Awards in 2007, 2011 and 2014, and Dr. Ma received Directors Of The Year Awards in 2015.
Ping An's Board of Directors ensures that the Group complies with laws and regulations and continues to improve the corporate governance structure. The Board of Directors actively participates in the Group's strategic planning, investment decision-making, risk management, internal control compliance, social responsibility and talent selection and employment. The Board is pursuing long-term, stable development of the business and greater sustainable value for the shareholders, investors and other stakeholders.
Alex Ren, Vice Chairman of Ping An, received the award on behalf of the Group. He said, "We benefit from China's economic reform, our corporate governance conforming to international standards, our professional Board of Directors, the strategic insights from Chairman Ma and the public recognition and support of Ping An. We have achieved rapid and healthy development over the past three decades. Going forward, Ping An will continue its efforts to create greater value, with the goal of building a hundred-year-old brand."
Directors Of The Year Awards were launched by the Hong Kong Institute of Directors in 2001. The awards recognize outstanding boards and directors, and promote good corporate governance and director professionalism. The award criteria include effectiveness in pursuing strategic corporate business, contributions to board effectiveness, contributions in managing risk and succession, leadership and business ethics.
SOURCE Ping An Insurance Group Ltd.