The presentation ceremony of the IBF Distinguished Fellow Award was held at Stamford Ballroom, Raffles City Convention Centre on 29 September. The IBF Distinguished Fellow Award (P&C insurance) was conferred on Richard Lim, the CEO of the Singapore branch of China Reinsurance (Group) Corporation, who was the first person in the field of reinsurance and the fifth person in the field of insurance to receive this award.
The IBF Distinguished Fellow Award symbolizes the industrial recognition of personal expertise and the contribution to the industrial progress and development. The winners have made unremitting efforts to and playing active roles in pushing forward the financial development of Singapore. Mr. Lim Swee Say, the Minister for Manpower of Singapore, presented the awards to the winners at the presentation ceremony, and the Business Times, the only financial daily based in Singapore, made a special edition for the winners.
The Singapore branch of China Re Group was established on 25 July 2016. It is an important bridgehead for China Re Group to develop reinsurance business in the Asia Pacific region, and plays an important role in deeply participating in the competition of the international reinsurance market. It is also a key measure for the China Re Group to serve the Belt and Road Initiative and support the internationalization of the Chinese enterprises.