Kyobo Life Insurance chairman Shin Chang-jae won the top award at this year’s Asia Insurance Industry Awards in recognition for his exceptional leadership and pioneering a new life insurance culture.

Shin was chosen as the “Personality of the Year” at the annual award ceremony held in Kuala Lumpur on Sunday, being 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 highly appreciated a Kyobo Life service launched last year that helped the Korean life insurance sales culture place more emphasis on after-sales service for customers.

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 Kim So-hyun (sophie@heraldcorp.com)