Asia: Generali Global Health heightens focus on region with appointment of new head of market development
Generali Global Health has announced the appointment of Mr Ran Wang as head of market development for the Asia Pacific region. Mr Wang will report to chief commercial officer Mr Stuart Leatherby.
He joins Generali from Aetna, where he held a strategy and product development role. He has extensive understanding of market needs in the region, and valuable experience in deploying products and propositions accordingly.
Asia: MSIG Holdings appoints chief risk officer and chief marketing officer
MSIG Holdings Asia has announced the promotion of two senior vice presidents, Mr William Song and Ms Rebecca Ang Lee, to chief risk officer (CRO) and chief marketing officer (CMO), respectively.
Based in Singapore, Mr Song started at the company as vice president in 2010, leading the actuarial department for over five years, and rose to senior vice president, managing enterprise risk management (ERM) for the region for the last three years. He is now CRO of MSIG Holdings Asia responsible for risk management across the region including ASEAN, Hong Kong, Australia and New Zealand. Mr Song has undertaken the CRO portfolio from Mr Paul Faulkner, executive director, risk management and technical services, and will continue to report to him.
He has been in the insurance industry for over 18 years working across different insurance markets around Asia Pacific. His experience includes development of ERM framework, internal modelling, insurance liability valuation, technical premium rating, mergers and acquisitions and insurance analytics.
MSIG has also promoted senior vice president Ms Rebecca Ang Lee, who oversees brand and communications and business excellence across ASEAN, Hong Kong Australia and New Zealand, to the newly created role of CMO. Ms Lee, who will also be based in Singapore, has over 20 years of industry experience in marketing communications, and will continue to lead the brand and communications and business excellence activities in ASEAN, Hong Kong, Australia and New Zealand reporting to Ms Iris Yuet, executive officer, corporate services. In her new role, she will help to drive the group’s key priorities on branding and sustainability as part of her expanded portfolio. She sits on the committee of the brand and communications working group, led by MSIG’s Tokyo-based head office Mitsui Sumitomo Insurance, to provide strategic direction on the group’s international branding initiatives, and will also be the lead of the newly set up sustainability taskforce within the region.
Asia: AGCS appoints head of new alternative risk transfer business
Allianz Global Corporate & Specialty (AGCS) is expanding its alternative risk transfer (ART) line of business to the Asia Pacific region, and in a related move, announced the appointment of Mr Richard Green as regional head of ART, Asia Pacific, with effect from 15 October 2018.
Mr Green has over 20 years of experience in alternative risk transfer and related fields. Based in Asia since 2005, he was most recently the regional head of ART and cyber insurance for a global broker, and developed a wide range of solutions including residual value, weather parametrics, loss portfolio transfer, non-damage business interruption, and risk financing while in his previous role.
At AGCS, Mr Green will be responsible for underwriting execution of both the new ART line of business as well as capital solutions in Asia Pacific. He is also responsible for developing and executing global strategy for both ART and capital solutions LOB underwriting and business development in order to drive profitable growth within the region.
Australia: BMS expands with senior hires
BMS Group announced that two senior leaders, Mr Stuart Davies and Ms Samantha Ford, have joined BMS Australia, effective immediately and report to BMS Australia CEO Mr Andrew Godden.
Mr Davies joins as a director with 25 years of industry experience in the UK and Australia, having most recently served as state manager for New South Wales at Gallagher. He has previously held senior roles at Aon and JLT, having begun his career as a sales executive at Hill House Hammond. At BMS, he will specialise in all aspects of corporate risks, including D&O and PI, as well as advising on placements across key emerging risk areas such as cyber, litigation risk (adverse costs), warranty and indemnity insurance and reputational risk.
Ms Ford joins as a corporate broker with 15 years’ industry experience at Lloyd’s and in the Australian market. She began her career as an office administrator at Lloyd’s underwriting agency Booker International, before moving to Newline Group as syndicate administrator. She then moved to Marsh’s Australian division as an assistant account executive in 2006, before finally serving in a variety of senior roles at Gallagher’s Australian unit since 2008.
Hong Kong: HSBC appoints chief investment officer for group insurance
Mr Mark Wang has been appointed chief investment officer, group insurance at HSBC.
Mr Wang will provide leadership to the investment teams across HSBC’s life insurance manufacturing entities globally with responsibility for investment strategy, investment governance process and mandate management. He will work closely with HSBC Global Asset Management to ensure delivery of optimal outcomes for policyholders and shareholders.
Based in Hong Kong, Mr Wang will report to Ms Katrien Verwilst, head of balance sheet optimisation, group insurance, and will also support balance sheet management initiatives for the insurance business globally.
Mr Wang brings with him over 20 years of experience in the insurance investment industry. He has held various senior positions, as chief investment officer (CIO) or fund manager at insurance companies in different parts of the world, including the US, Hong Kong, Malaysia and most recently Singapore where he was CIO for NTUC Income Insurance. Prior to that, he was CIO of AIA Malaysia and CEO of AIA Pension and Asset Management Company. Mr Wang obtained an MBA degree from Carnegie Mellon University and is a chartered financial analyst.
India: Milliman hires consulting actuary
Milliman announced the appointment of industry veteran Mr Heerak Basu as consulting actuary, based in Mumbai.
Mr Basu is a fellow of the Institute and Faculty of Actuaries, a fellow of the Institute of Actuaries of India and a fellow of the Singapore Actuarial Society. He holds an honours degree in mathematics from the University of Cambridge and an MBA from Strathclyde Business School.
His previous roles include more than 12 years as an appointed actuary for one of India’s premier life insurers. Prior to that he spent several years as a consultant in Singapore. Mr Basu has been actively involved in advising on distribution tie-ups, evaluating mergers and acquisitions, advising on investment strategies and formulating risk management strategies. He has served on the Council of the Institute of Actuaries of India and currently sits on the Appellate Authority constituted by the Government of India.
Manulife Malaysia appoints CEO
Mr Sang Hui Lee has been appointed as group CEO for Manulife Holdings and CEO of Manulife Insurance. Mr Sang replaces Mr Mark O’Dell, who retires from Manulife. Mr Sang will be responsible for the company’s operations in Malaysia, including its life insurance, health insurance, wealth management and retirement solutions businesses.
He has over 25 years of experience in the life insurance and asset management industries, in various senior roles. His career began in American Life Insurance in Japan before joining AIG/AIA where he had a noteworthy career across investments, finance, marketing and distribution. He holds an MBA from Thunderbird School of Global Management and a bachelor’s degree from the University of Colorado in molecular cellular developmental biology.
Malaysia: Datuk Oh Chong Peng appointed as chairman of Labuan FSA
The Labuan Financial Services Authority has announced that the minister of finance has approved the appointment of Datuk Oh Chong Peng as the chairman of Labuan FSA effective from 16 October 2018 until 15 February 2020.
Datuk Oh has wide experience in financial and other business sectors. He is currently the non-executive director of British American Tobacco (Malaysia), Malayan Flour Mills, Dialog Group, Kumpulan Europlus, PUC and a trustee of UTAR Education Foundation. Datuk Oh was chairman of the Alliance Financial Group until his retirement from the board in 2017. He was also a partner of Coopers & Lybrand Malaysia and government-appointed member of the Kuala Lumpur Stock Exchange as well as the Malaysian Accounting Standards Board.
Global: Aon appoints benefits concierge in health and benefits team
Aon has appointed Ms Lauren Elliott as benefits concierge in its specialties’ health and benefits team in a major boost to the company’s commitment to expanding its client advocacy model.
The new appointment enables Aon to provide a white glove service to those individuals requiring a health assessment in the group life insurance space.
Reporting to health and benefits director, people risk at Aon, Stuart Whitbread, and working with the broader people risk leadership team, Ms Elliott will drive the Aon’s concierge service offering to executives and corporate members.
Ms Elliott joins Aon following 10 years of experience in customer service roles, including positions supporting senior management.
Global: GFIA names new president, makes new appointments to executive committee
The Global Federation of Insurance Associations (GFIA) has announced the election of Mr Recaredo Arias as its new president, as well as new appointments to its executive committee (ExCo), following a vote at its annual general assembly.
Mr Arias, who is director general of the Mexican Association of Insurance Companies, takes over from Mr Dirk Kempthorne, who stepped down in August 2018 after leaving his role as president and CEO of the American Council of Life Insurers.
Mr Don Forgeron, president and CEO of the Insurance Bureau of Canada will take over Mr Arias’ previous role as vice-president.
In addition, Mr Rob Whelan, executive director and CEO of the Insurance Council of Australia, has stepped down as membership executive. This role has been taken over by Mr Tim Grafton, CEO of the Insurance Council of New Zealand.
The mandates of two other GFIA ExCo members were renewed. These were Mr Toyonari Sasaki, vice chairman of the Life Insurance Association of Japan, as treasurer and Mr Bachir Baddou, general manager of the Moroccan Insurance Association, as regional representative.
All the mandates are for two years. Ms Michaela Koller, director general of Insurance Europe, remains secretary general, as her mandate was not up for reappointment. A