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New Beacon Group signs MOU with the Think Tank of China Insurers

2 May 2019

On 11th April 2019, a Memorandum of Understanding between New Beacon Group (NBG) and the Think Tank of China Insurers (TTCI) was signed at the New Beacon Campus in Stafford, England. Those attending this signing ceremony included Dr Frank Guo – Chairman of New Beacon Group, Mr Yongxian Wu – Secretary-in-General of TTCI, Mr Xiangqing Xiong – Director of the Training Department of People’s Insurance Company of China (PICC) and Professor Richard Li-Hua – President of NBG, and key staff of NBG. After giving respective speeches, it has been announced that NBG is going to set up a School of Insurance in partnership with TTCI with a view to conducting joint teaching and research, training and consultancy projects both in the UK and China.


TTCI was jointly established by the China Insurance Association, China insurance Press Co., Ltd and the Enterprise and Education Research Centre of Peking University in 2016. As a high-end cross-sector think tank in the economics and management field, it was designed to provide intellectual support for decision making in the insurance industry in China. Sharing the same vision as NBG, TTCI will assist it to develop a “world-class business school in insurance and financial services”, said Mr. Wu. He pointed out that the Insurance School will be a vehicle to promote the facilitation of the strategic cooperation between TTCI and NBG on multiple fronts, including the organisation of high-level, international forums, development of elite training programmes for senior executives, construction of academic disciplines and curriculums and promotion of business exchanges between insurance professionals in both countries. Mr Wu also pledged to integrate the resources of China’s top universities and companies, through training and consultancy services and in-depth cooperation with NBG here in Stafford.


Mr Xiong from PICC also supported the setting-up of the high-quality insurance college at New Beacon campus so as to catalyst the development of talented insurance professionals in China. Recalling his own experience in managing insurance businesses in the past, he praised the concept of “East meets West” and “Learning through Doing” advanced by NBG and imagined this would create a healthy corporate culture for Chinese insurance companies.


After introducing the latest progress that NBG has made so far in terms of academic development and organisational restructuring, Professor Richard Li-Hua presented NBG’s strategic plan over the next five years and a series of measures to ensure NBG’s mission is delivered and targets are met. NBG’s eventual aim, he declared, is to build a world-class humanity, business, management and innovation university, tackling the challenges and opportunities between West and East, developing future leaders and managers in the ever changing business world. This globally-connected university will become the incubator of entrepreneurial and innovative spirits and creative minds, contributing not only to the prosperity of our local community but also to sustainable development worldwide.


After the signing of the MOU, Professor Li-Hua gave our Chinese guests a guided tour around the beautiful campus. They were deeply impressed by NBG’s garden-like and well-equipped campus and confident that the co-operation between NBG and TTCI will bear fruits soon.