Bangkok, Thailand, 14 August 2015 - ACE INA Overseas Insurance Company Limited and ACE Life Assurance Public Company Limited, both companies of ACE Group, one of the world’s largest multiline property and casualty insurers, announced today the three winning Corporate Social Responsibility (CSR) projects created by university and vocational students for ACE’s CSR contest, ‘Enhancing Lives with ACE 2015.”
With expanded financial support totaling THB 300,000 to fund CSR projects to improve education and health, alleviate poverty or save the environment, this year’s most promising initiative with a prize of THB 120,000 went to a team from Uttaradit Rajabhat University, and their CSR project, “Support organic farming systems according to the principles of economic sufficiency.” The winning project will provide opportunities to educate Thai farmers by organizing a training activity with 50 Thai farmers in Tumbon Namrid, Ampher Muang, Uttaradit province, whilst also developing online media to further educate farmers or those who are interested in organic farming nationwide. This project aims to support organic farming systems to solve the problem of using excess chemicals in Thai agriculture, whilst also providing a marketing channel for Thai farmers to sell their organic agricultural products to help improve their quality of life.
The first runners-up team winning a prize of THB 100,000 was Chiang Rai Rajabhat University, comprising 40 students from Chiang Rai province. The team has a plan to preserve forestry and watershed land in Thailand, with Chiang Rai province designated as the pilot area for the program. A key component of the plan is the building of a weir to slow water flow and aid water retention in the local “Pang Khon” community, enabling effective and sustainable forest rehabilitation.
The second runners-up spot with a prize of THB 80,000 went to Thammasart University, with a project called “Youth Love the Sea.” The scheme aims to create a community among Thai students co-operating and building awareness in the conservation of marine resources through activities which restore degraded coastal areas. The team will also coordinate with the government and private sectors in order to understand the exact challenges faced in order to solve the problems effectively.
Rob Wilkinson, Country President of ACE INA Overseas Insurance, the fully-owned general insurance operation of ACE in Thailand, said, “ACE employees within all of our business groups in Thailand are remarkably proud of what the inaugural ‘Enhancing Lives with ACE’ achieved for Thai communities last year. For 2015, the total value of financial support on offer was increased substantially, enabling the activation of more comprehensive and ambitious CSR programs put forward by students. I would like to express my gratitude and congratulations to our three 2015 winners. The top initiatives from last year are still delivering real value and benefits for the local communities this year and beyond; it is fantastic that we have an opportunity to expand the program for 2015.”
Mr. Wilkinson continued, “It was challenging to select the best entries from the submissions we had received as there was such a powerful awareness of CSR across the range of projects put forward. The three winners were selected on the strength of their ability to satisfy ACE’s Corporate Social Responsibility pillars, namely improving education and health, alleviating poverty and protecting the environment.”
Ms. Sally O’Hara, Country President of ACE Life Assurance, explained, “This year’s contest builds on the success of the launch in 2014. We’re very pleased to see that in 2015, ‘Enhancing Lives with ACE’ has received a particularly high level of interest and involvement, with an even wider number of university and vocational college students participating in the contest in contrast to last year. The participation rate increased by around 70%, with some entries submitted from universities that joined last year’s contest, while others were from new provinces and tertiary institutions. This shows that the three winners from last year and ACE’s CSR contest have made a difference in creating awareness among students and society as a whole.
‘Enhancing Lives with ACE 2015’ aims to continue making an exceptional difference in the lives of the less privileged, and contribute towards environmental protection. This is the tenth year ACE has held CSR activities in Thailand, and the second consecutive year the company has offered a financial package to support high potential CSR schemes. Building upon the highly tangible community benefits that last year’s program delivered for a wide variety of stakeholders, it is our great pleasure to wish every success to our three winners in implementing their projects”, added Ms. O’Hara.
In addition to financial support, the winning teams will have the opportunity to participate in ACE’s Global ‘Day of Service’ in October 2015.
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About ACE in Thailand
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. ACE's core operating insurance companies are rated AA for financial strength by Standard & Poor’s and A++ by A.M. Best.
With both general and life insurance operations, ACE has been present in Thailand for over 40 years via acquisitions by its predecessor companies. Its fully owned general insurance operations in Thailand is a branch of ACE INA Overseas Insurance Company Limited, which has been assigned a financial rating of AA- by Standard & Poor’s. The company’s product offerings include Property, Casualty, Marine, Liability, Financial Lines and Group Personal Accident insurance for corporate clients. In addition, ACE INA Overseas Insurance Company Limited provides a wide range of Accident & Health insurance products to retail clients through a multitude of distribution channels, of which direct marketing is its forte. The company’s market leadership position is largely attributed to its strong partnerships with financial institutions as well as retailers to tailor individual protection policies for their clients and employees.
Specifically to meet the needs of financial protection and security of its broad range of customers, ACE Life in Thailand (ACE Life Assurance Public Company Limited) offers a comprehensive range of quality life insurance products and services while ACE Life’s team of over 3,500 agents service and support customers throughout the nation. The company also partners with financial institutions and other companies to tailor individual policies for their clients and employees.
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