Independent Director, Shin Kong Life Insurance Company
Mr. Chi-Shih Cheng is an Independent Director of Shin Kong Financial Holding Company, Ltd. (SKFH). The core business of SKFH is insurance and banking. SKFH is a financial group which provides comprehensive financial services through several subsidiary companies including Shin Kong Life Insurance Co., Ltd. (SKL), Taiwan Shin Kong Commercial Bank Co., Ltd. (SKB), Shin Kong Investment Trust Co., Ltd. (SKIT), Taiwan Shin Kong Insurance Brokers Co., Ltd. (SKIB) and etc. The consolidated net profit of SKFH in 2009 was 1.13 billion NT dollars after tax while the total assets was estimated at 1.90 trillion NT dollars which corresponds to a 9.30% growth compared to the previous fiscal year. As an Independent Director, the major responsibility of Mr. Cheng is to provide independent and professional advices to the board of directors during decision-making process, enforce the corporate governance to be implemented successfully and risk managements.
In addition to industry experiences, Mr. Cheng also serves as an Associate Professor in Department of Risk Management and Insurance of National Chengchi University, one of the best Universities in Taiwan especially in the research area finances. Mr. Cheng is active in profession committees as well and is now chairman of Chinese Insurance Service Association, R.O.C. and chairman of Life Insurance Management Institute, R.O.C. Mr. Cheng received his Master degree, MBA, from Graduate Institute of Business Administration in National Taiwan University.
Prior to joining SKFH, Mr. Cheng has worked in the Ministry of Finance, a government organization in Taiwan, for more than 30 years. Within this period, Mr. Cheng contributed the most when he served as the Director of Insurance in the Ministry of Finance. During this period, Mr. Cheng made great effort to promote healthy growth of insurance industry while increase mutual benefits for insurer and the insured. Compulsory Automobile Liability insurance, for example, was promoted at the time and has been proof valuable in current national insurance system. The extensive experiences earned from other important positions for Mr. Cheng may include chairman of Insurance Advisory Council, advisory consultant of Economic Crimes Investigations Center, Consultant of Public Service Pension Fund Management Board, director of Chung Kuo Insurance Company, Ltd, managing director of Mega International Commercial Bank, the question drafter; grader and member of the board of examiners in Examination Yuan R.O.C. and etc.