Tse, Cabello Named To IIS Insurance Hall Of Fame

Edmund Tse and Clemente Cabello have been named to the Insurance Hall of Fame, which is operated by the International Insurance Society.

Mr. Tse, senior vice chairman and co-chief operating officer of American International Group, and Mr. Cabello, chief executive of Grupo Nacional Provincial in Mexico City, will be honored on July 15 in New York City at the societys annual seminar at the Waldorf Astoria.

Mr. Tse, who is also chairman and chief executive officer of AIA, the largest life insurer in SE Asia, began his career with the American International Group in Hong Kong in 1961. Over the years he has promoted the development of insurance in the Asia region and played a key role in opening up China's insurance business, IIS said.

He has promoted the status of Hong Kong as a leading international financial center, according to IIS.

At AIA, Mr. Tse built Nan Shan Life Insurance Company in Taiwan into one of the top-ranked insurers in that country, the Society said, noting that he spearheaded AIGs business in Asia and developed insurance companies and market share in many countries, including Indonesia, Japan and the Philippines.

As a result of his efforts, American International Group today is ranked No.1 in Hong Kong, Thailand, Singapore and the Philippines, IIS said.

As a pioneer in exploring business potential in China, Mr. Tse introduced the agency concept and system in China. And in Hong Kong, he has been instrumental in bringing together representatives of both the life and general insurance sectors into one insurance industry voice, IIS said.

He has been the longest serving member of the Insurance Advisory Committee to the Hong Kong Government, providing expertise and counsel to the government.

IIS said Mr. Cabello began his work as a clerk in the actuarial department of Grupo Nacional Provincial, the company where he now serves as chief executive. Today, his company is one of Mexico's largest and most prestigious insurance enterprises, IIS said.

Mr. Cabello, the Society said, has been a major innovator in product design and development for his country. He introduced the concept of universal life in Mexico, he introduced dividends to his company's products, and his concept of inflation-proof insurance was applied to property insurance as well as to life insurance, IIS noted.

Mr. Cabello also participated with a group of Mexican actuaries to gather mortality experience in order to develop new mortality tables for the country. Under his leadership, his company introduced the first insurer-owned clinics to enhance health services for customers.

Throughout his career, IIS said, Mr. Cabello has been a prominent advocate for the institution of insurance. Due in large part to his effort, the regulation and practice of insurance in Mexico has been substantially enhanced. He has advised and counseled governments and institutions through Latin American regarding insurance law.

The Insurance Hall of Fame was instituted in 1957 by the Griffith Foundation for Insurance Education, Columbus, Ohio, and later moved to The University of Alabama, where it was founded and developed by Dr. John Bickley, emeritus professor of insurance of that institution.

A new digital gallery of the Insurance Hall of Fame will open in New York in July as organized by the Society and the St. John's University School of Risk Management. All laureates will be displayed in state-of the-art digital photography with biographies and audio-video materials. There are 108 laureates, including the two most recent, from nearly 20 countries who are honored.

Qualifications for installation in the Hall of Fame include “exceptional contributions to the advancement of insurance locally or globally, and innovation in developing insurance benefits for the security and well-being of society and individuals.” Members are selected by the membership of the International Insurance Society in a secret ballot.

Reproduced from National Underwriter Edition, July 14, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved. Copyright in this article as an independent work may be held by the author.

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Tse, Cabello Named To IIS Insurance Hall Of Fame

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