Sun Life Grepa Financial, Inc. (Sun Life Grepa), one of the major insurers in the country, was recently awarded with a Golden Arrow in the 2022 ASEAN Corporate Governance Scorecard (ACGS) Awards organized by the Institute of Corporate Directors (ICD). This is the 5th consecutive year that the ICD has recognized the good corporate governance of Sun Life Grepa. Sun Life Grepa president Richard S. Lim attended the awarding ceremony that was held on September 28, 2023 at Okada Manila.
The ACGS is an assessment tool that evaluates the corporate governance practices of publicly listed and insurance companies in ASEAN member countries. The Arrow Golden Recognition is a distinguished honor that reflects exceptional adherence to best practices in corporate governance, making Sun Life Grepa a standout in the industry.
“We are immensely proud to receive this award from ICD. This back-to-back recognition underscores our relentless pursuit of excellence in all aspects of our business operations, ultimately benefiting our customers and the wider community we serve,” Sun Life Grepa president Richard S. Lim said. “This also reflects the dedication of our team and our unwavering commitment of building trust and confidence, exceeding the expectations of our stakeholders every step of the way.”
The ACGS, established by the ASEAN Capital Markets Forum, serves as a valuable tool for evaluating and ranking publicly listed and insurance companies’ effectiveness in protecting the rights of shareholders, equitable treatment with stakeholders, transparency and fairness through disclosure of material information, and the effectiveness of the board. This initiative was inaugurated in 2011 as a significant step toward advancing ASEAN’s economic integration.
Sun Life Grepa had previously received an ACGS award in 2018 and 2021.