Asia: ACE creates new business unit
ACE Group has announced the creation of a new business unit – ACE International Excess (AIE) – to provide commercial property insurance on an excess basis, targeting large companies in Asia Pacific. The new unit will be helmed by Mr Troy Sexton, who has been appointed Regional Head, ACE International Excess, Asia Pacific, and based in Singapore.
Mr Shankar Krishnan, currently Casualty Underwriting Manager for MENA, has been promoted to a new underwriting management role where he will be responsible for the performance and development of ACE’s expanding portfolio of casualty business and the team of local casualty underwriters across the region’s nine markets in the Middle East, Turkey, Africa and Russia.
Ms Susan McDonald was appointed to the role of Regional General Counsel for Eurasia and Africa. She will continue to be based in Dubai and will be responsible for overseeing the legal and compliance functions of ACE’s operations in Eurasia and Africa.
Asia: New senior appointments for Generali
Generali Group has named Mr Jack Howell as the new Regional Officer for Asia, taking over from Mr Sergio di Caro who has assumed a global role as Head of Generali Employee Benefits. Based in Hong Kong, Mr Howell will report directly to Generali Group CEO Mario Greco, and will be responsible for Generali Asia’s insurance operations in both life and property & casualty businesses.
Meanwhile, Ms Tricia Koh has been appointed Head of Value Proposition & Marketing, Asia at Generali Global Corporate & Commercial (GC&C). Also based in Hong Kong, Ms Koh’s role will focus on understanding customers’ needs and developing customised value propositions to deliver offerings which best address those needs.
Asia: Marine engineering consultancy announces new appointments
Global marine engineering consultancy London Offshore Consultants (LOC) Group recently appointed Mr Mark McGurran and Mr John Quarrington to new key positions of Asia Regional Hull & Machinery Co-ordinator and Group Marine Warranty Surveying Manager respectively.
Mr McGurran will join the LOC Singapore office, bringing with him 12 years of seagoing experience including as chief engineer, plus a further 10 years as a marine surveyor and salvage engineer, whilst Mr Quarrington will be based in London and will be supporting Group Energy Services Director Alex Harrison.
Asia: BPL Global appoints Chief Executives for Singapore and Hong Kong
Following approval by the Monetary Authority of Singapore, Berry Palmer & Lyle Ltd (BPL Global), the specialist credit and political risk insurance (CPRI) broker, has appointed Mr Peter Gilbert as Chief Executive of the company’s Singapore subsidiary. Mr Gilbert has been Chief Executive of the Hong Kong branch since 2011.
Meanwhile, Deputy Chairman and Founding partner Anthony Palmer will continue to oversee BPL Global’s business in the Asia Pacific region from London.
Ms Margaret Ho, who joined BPL Global in January 2014, takes over from Mr Gilbert as Chief Executive of the company’s Hong Kong branch following approval by the Hong Kong regulator, the Confederation of Insurance Brokers.
Singapore: Insurance law association elects new president
The Insurance Law Association of Singapore (ILAS) has elected Mr Pooba Mahalingam as President for the new term 2015/2016. Mr Mahalingam, who is Executive Director at Crawford & Company International Pte Ltd, took over the role from Mr Simon Goh, who is Partner at legal firm Rajah & Tann.
Taiwan: Ms Joanne Tzeng steps down as regulator
Ms Joanne Tzeng has recently retired from her role as Director-General of the Insurance Bureau, Financial Supervisory Commission (FSC) and has assumed a new role as the Chairperson of national insurance think-tank Taiwan Insurance Institute.
Meanwhile, Ms Grace Lee will succeed Ms Tzeng as Director-General of the Insurance Bureau. Prior to this undertaking, she was the Secretary-General of the FSC. She is also a professional in a law-related field and had also served as the Director-General of FSC’s legal affairs department before being promoted to Secretary-General.
Global: AIG names new CEO of Personal Insurance
Mr Gaurav D Garg has been named CEO, Personal Insurance at AIG. Reporting to CEO of Global Consumer Insurance Kevin Hogan, Mr Garg will be overseeing all aspects of the personal insurance business, including auto, personal accident, and personal property lines, as well as service programmes including extended warranty and travel insurance products and services.
Global: Tokio Millenium Re announces new CEO
Mr Stephan Ruoff has been appointed CEO of Tokio Millenium Re (TMR), a subsidiary of Tokio Marine & Nichido Fire Insurance Company. He will continue to be based in Zurich, Switzerland, and will lead the company in building its brand and financial strength.
Prior to his appointment, Mr Ruoff was Chief Underwriting Officer of TMR. He succeeds Mr Tatsuhiko (Tats) Hoshina, who has been appointed Vice Chairman and Member of the Board.
Global: Singaporean academic elected to Zurich board of directors
Eminent Singaporean academic Professor Kishore Mahbubani has been elected to the board of directors of Zurich Insurance Group by shareholders at the global insurer’s annual general meeting recently.
Prof Mahbubani began his career as a diplomat with the Singapore Foreign Service in 1971 where he served until 2004, with postings in Cambodia, Malaysia, Washington DC and New York. He also serves on boards and councils of several institutions in Singapore, Europe and North America, including the Yale President’s Council on International Activities; Association of Professional Schools of International Affairs; University of Bocconi International Advisory Committee; the World Economic Forum: Global Agenda Council on Geo-economics; and as Chairman of the Lee Kuan Yew World City Prize Nominating Committee.
Global: Tom Hutton to lead new XL Group venture capital initiative
XL Group plc has recently announced the creation of XL Innovate, an XL sponsored venture capital initiative which will be led by Mr Tom Hutton, who is known for his leadership in the creation of successful insurance and financial technology ventures.
Mr Hutton most recently served as the CEO and founder of New Energy Risk Inc., a provider of innovative data analytics, strategic consulting and financial risk transfer solutions to the renewable energy industry worldwide, which partnered with XL last year to launch an innovative fuel cell insurance product.
Global: Miller hires cyber & technology risk broking pioneer
Mr Simon Milner, a pioneer in broking cyber and technology risks, has joined specialist (re)insurance broker Miller Insurance Services LLP in a production and broking role in London. Mr Milner has over 30 years of industry experience under his belt and has been broking cyber and technology risks since 1997.