Corporate Governance - CG | Ocean Life Insurance
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Ocean Life Insurance
Love empowers your life

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Ocean Life Insurance
Love empowers your life

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Ocean Life Insurance
Love empowers your life

Ocean Life Insurance

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Corporate Governance - CG

Ocean Life Insurance Public Company Limited well realised that life insurance company is the financial institute that provides protection for life and creates financial stability for the insured and beneficiary. Therefore, the company emphasises the business operation that strictly abides by ethics and Corporate Governance principle. Through the management with integrity, honesty and fairness under the government’s regulations, the company has the segregation of responsibilities and appropriate internal control system stipulated for every department, as well as a good corporate governance, which was fostered in accordance to the international standard of life insurance business. All of the efforts has been conducted to adhere to business operation that is transparent, open and verifiable. In addition, Ocean Life Insurance aims to create corporate culture for employees and agents who obliged to ethics and participation in the adherence to the responsibility towards all stakeholders in business operation, including customers, shareholders, committee, executives, employees, agents and partners, as well as to the responsivility towards the society and the country for mutual sustainability. According to the principles of Corporate Governance, Ocean Life Insurance aspires to grow as the best life insurance for all parties, the Board of Directors plays a crucial role in company management. They are regulators of the policy, management mechanism and monitoring system in order to ensure the company is operating with efficiency and is fulfilling the objectives and pre-determined goals. Additionally, the Board will ensure the operation is being conducted in the direction that shareholders have agreed upon, that must be legal and compliant to the company’s regulations in order to preserve the right, reduce risks and maintain the benefits for customers, shareholders and all parties related. All directors are free to express their opinions with mutual intention to supervise good corporate governance to ensure the operation of the management has achieved the vision, goals, objectives and mission of the organisation, as well as to enhance efficiency, accuracy, fairness, transparancy and validity of the operation. Ocean Life Insurance appointed the Audit Committee, Risk Management Committee, Nomination and Remuneration Committee, in order to supervise and direct the company to operate under the internal control system and risk management conducted within appropriate framework. Ocean Life Insurance believes that the business operation system and supervision under strong Corporate Governance principle as mentioned above will enable the company to be able to operate business with stability to ensure stakeholders’s reliability, confidence, faith and credibility that will lead to mutual benefits and sustainable achievement.

 

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