OREANDA-NEWS. June 21, 2011. Ping An Insurance (Group) Company of China Ltd (hereafter "Ping An" or "the Group", HKEX: 02318; SSE: 601318) is pleased to announce that it has been named the winner of Corporate Governance Asia magazine's  "Recognition Awards 2011" for the fifth consecutive year in recognition of its commitment  to corporate governance in its daily operations.

According to the award committee, Ping An has demonstrated continued dedication to improving its corporate governance standards over the years. Under the leadership of the Board of Directors and senior management team, both of which attach great importance to accountability and professionalism, the Group has been able to foster a quality governance culture throughout its operations and thus able to maximize value for its shareholders.

Ping An has strived to be a model of corporate governance for others in the market ever since its establishment. Throughout its development in the past two decades, Ping An has embraced value-adding as the core of its corporate governance framework, and has established a proven system that is aligned to its corporate vision and governance principles while encouraging its staff to be accountable to shareholders,  clients and society. Having a balanced and diversified shareholder structure, an international Board of Directors and related policies, a thorough decision-making process, transparent information disclosure and a strict risk management framework in place have helped ensure the sustainable and stable development of Ping An.

On receiving the award, Ping An says: "It is tremendous that our work in the area of corporate governance in the past year is again recognized by the industry. Ping An has developed from its roots as an insurance company to becoming a leading integrated financial services provider. This award is the result of Ping An's commitment to the highest of management standards. It is our belief that high standards in this area will help create value for shareholders and other stakeholders in the long run. We will continue to work towards our goal of becoming a world leading integrated financial services group while continuing to strengthen our corporate governance."

Corporate Governance Asia is one of the most authoritative publications on corporate governance in Hong Kong and Asia. The annual award is designed to recognize excellence in corporate governance.

For many years, domestic and overseas investors have long favoured Ping An for its outstanding achievement in corporate management. It has won numerous major corporate governance awards over the years, including "The Best Insurance Company in Asia" by Euromoney magazine three years in a row, and four "Asia's Best Managed Companies" honours from Asia's leading financial magazine FinanceAsia.