The Asia Pacific Financial Services Association (APFinSA) together with host member association THAIFA (Thai Association of Insurance and Financial Advisors), honoured 1,600 qualifiers of the inaugural APFinSA Awards from across Asia Pacific.
VIPs at APFinSA Awards in Thailand (Credit: THAIFA)
The first APFinSA Awards dinner was held in Thailand on 25 August 2020, amid the COVID-19 pandemic with safety measures in place.
Because of the travel restrictions in place, this year's awards dinner was attended by local financial services professionals.
APFinSA Chairman Banyong Witayaweerasak was pleased with the overwhelming response to APFinSA's first awards and the turnout during the ceremony in Bangkok. "By now, many insurance agents, executives of insurance companies as well as the regulators are aware of APFinSA Awards, and they are keen to participate next year."
He added, "Regarding the future of life insurance business in Asia, we have reason to believe that for the next 10 years, the world economy will be driven by the middle class in China, India and ASEAN. They are the largest market segment with enormous buying power. Today the life insurance premiums in Asia is the highest in the world.
"It is time for Asia to rise and to recognise our own Asian qualifiers and outstanding performers."
About the Awards
The APFinSA Awards have been in the plans for the past decade, he said. Discussion and decisions were delayed given the challenge of measuring competencies among the Asia Pacific countries, such as the different stages of development, and costs of living.
In 2019, APFinSA together with its nine member countries were finally ready and passed the resolution to launch the APFinSA Awards.
The APFinSA Awards was thus launched in Hong Kong during the Asia Pacific Life Insurance Congress (APLIC) in 2019. All nine member associations - Singapore, Malaysia, Australia, Philippines, India, Hong Kong, Macau, Taiwan and Thailand - of APFinSA, the largest financial services council in Asia Pacific, had promoted the awards in their respective markets.
The THAIFA was nominated as the first host for the awards ceremony. Originally planned for 1,000 awardees from across Asia Pacific in attendance, plans had to change when the pandemic happened.
Instead of a night gala dinner, the THAIFA decided to organise a lunch banquet, as well as ensured all safety and precautionary measures were adhered to, such as safe distancing and wearing of masks and face shields.
And due to travel restrictions, overseas awardees were not able to attend the ceremony, so the other member associations organised their own award ceremonies in their respective countries for this year.
In Thailand, some 360 awardees attended the awards ceremony. In Taiwan, an awards ceremony was held on 27 August with some 700 awardees.
VIPs at APFinSA Awards Taiwan (Credit: Insurance and Financial Practitioners Association of Taiwan)
Congratulations to all qualifiers of the inaugural APFinSA Awards!
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