Asia: Prudential names new regional head
UK-based insurer Prudential has appointed CFO, Mr Nic Nicandrou, as the chief executive of its Asian life insurance and asset management subsidiary, Prudential Corporation Asia. He will replace Mr Tony Wilkey in the position, who is leaving after 10 years at the firm.
Mr Nicandrou began his career at PwC. Before joining Prudential in 2009 as CFO, he worked at UK-based Aviva, where he held a number of senior roles.
Asia: HDI Global SE announces new head of Crisis Management practice
HDI Global SE has named Ms Karina Rodríguez Díaz to head up the Crisis Management practice of the corporate insurer in Australasia.
Ms Díaz joins HDI from Aon Australia where she was Placement Manager for Crisis Management. She has more than 12 years’ industry experience, specialising in Crisis Management and has worked across multiple industries and has extensive local and international exposure having worked in Latin America, London and Australian Insurance markets.
Asia: Generali Asia appoints new Regional Head of Health, Asia
Generali Asia has announced the appointment of Dr Hak Hong Soo as the Regional Head of Health, Asia. Dr Soo will report directly to Mr Roberto Leonardi, Regional Officer for Asia.
Based in the regional hub in Hong Kong, Dr Soo will be responsible for strengthening Generali’s Health business in the market and accelerating its leadership presence in Asia.
Asia: Munich Re Specialty Group appoints new regional head
Munich Re Specialty Group has appointed Ms Celine Ang as Head of Asia, starting 1 August, responsible for Munich Re Syndicate offices across the region. Ms Ang will be based in Singapore.
Ms Ang joins from Euler Hermes, where she is currently CEO for ASEAN.
Asia: Markel appoints trade credit underwriter
Markel International has appointed Mr Dillon Matthews as trade credit underwriter and senior risk analyst in Singapore, in a strategic development to strengthen and broaden its Asia Pacific resources.
Mr Matthews will focus on expanding Markel’s trade credit business in the region, including the development of specialist products, servicing existing client portfolios and growing broker and client relationships.
He will report to Mr Abhishek Chhajer, senior underwriter and head of trade credit in Singapore, who has led Markel’s trade credit business in the Asia Pacific region since 2011.
Prior to Joining Markel, Dillon was a senior underwriter at Atradius in its Special Products division, focusing on single situation credit risks and structured trade finance.
Asia: Validus Re Asia-Pacific makes several new appointments
Mr Lim Ming Boo has joined Validus Re Asia Pacific as Vice President & Underwriter, bringing with him 18 years of treaty and facultative underwriting experience. Besides focusing on Marine and South-Korean treaties, he will also be actively involved in the underwriting and development of other Asian treaties.
Ms Triana Ding, previously an Assistant Underwriter has been promoted to Assistant Vice President & Underwriter. In her new role, she will carry out underwriting responsibilities with focus on Non-Marine treaty business from Taiwan, Philippines, Japan and China.
Ms Ann Goh has taken on a new role as HR Business Partner, Asia-Pacific. She is responsible for all HR Group activities in Asia-Pacific including Validus Re Singapore as well as Talbot’s offices in Singapore, Dubai, Australia and those seconded to Shanghai under the Lloyd’s China platform.
ACR appoints Deputy Group Chief Executive
ACR Capital Holdings Pte Ltd (ACR) has appointed Mr Bobby Heerasing as Deputy Group Chief Executive and Deputy Chief Executive of its fully owned subsidiary, Asia Capital Re, pending regulatory approvals.
Mr Heerasing brings more than 20 years’ industry experience to ACR and has been actively involved in most aspects of the (re)insurance industry. The bulk of his experience was spent at Catlin and subsequently XL Catlin, following the merger of insurance groups, Catlin and XL. Mr Heerasing previously worked in London and Houston, but since 2002, has been largely based in Singapore where he took on various management and underwriting roles for Asia Pacific.
Asia: Willis Towers Watson announces new Head of Investments
Willis Towers Watson has announced the appointment of Mr Taro Ogai as Head of Investments for Asia Pacific. Mr Ogai will start his new role on 1 July. He will succeed Ms Naomi Denning, Managing Director and Head of the Asia Pacific Investment business, who will be leaving the company to relocate to Canada in a long planned move with her family.
Meanwhile, Ms Jayne Bok has been appointed as Head of Investments for Asia. MS Bok will be responsible for Willis Towers Watson’s investment activities in Asia Pacific outside of Japan and Australia.
Australia: Allied World Global Markets builds out Australia property team
Allied World Assurance Company Holdings, AG, announced that Ms Jodi Garratt has been appointed Assistant Vice President, Property, Australia. She will report to Ms Carolyn Shreeve, Vice President and Head of Property, Asia-Pacific.
Ms Garratt has 17 years of professional experience in the insurance industry, gained in the UK and Australia markets.
Australia: QBE names new Group CFO; appoints product head for negotiated lines division
QBE Insurance Group Ltd has appointed Mr Michael Ford as group chief financial officer. Mr Ford is currently the deputy CFO for the Commonwealth Bank of Australia (CBA). He will join QBE in September 2017 and will be based in the company’s head office in Sydney.
At that time, Mr Pat Regan will relinquish his group CFO responsibilities and step down from the board to focus on his permanent role as CEO, Australian & New Zealand Operations.
QBE Australia and New Zealand has appointed Mr Alex Green as Head of Product – Negotiated Lines. Mr Green moves to the role after joining QBE’s workers’ compensation team in February. He will report to Chief Underwriting Officer Mr Declan Moore.
Australia: ANZIIF announces new President and Deputy President
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has announced that Mr Allan Reynolds, Executive General Manager – NZ + Direct at Steadfast and Ms Megan Beer, Group Executive, Insurance at AMP, will take over the positions of ANZIIF President and Deputy President effective immediately.
Mr Reynolds has held the position of Deputy President since 2016 and accepted the Presidency when Mr Karl Armstrong stepped down at the end of his two-year term.
ANZIIF also welcomed new board members through the year.
Australia: Chubb appoints new Head of Accident & Health
Mr Ben Howell has been appointed to the role of Chubb Head of Accident & Health, Australia & New Zealand.
In addition, for an interim period, he will also continue to undertake his responsibilities as Chubb Global Broker Unit Manager, Victoria. He reports directly to Mr John French, Chubb Country President, Australia & New Zealand with a matrix to Mr Glen Browne, Chubb Executive Vice President Accident & Health, Asia Pacific.
Mr Howell’s 15-year experience extends across Australian and Asian markets.
Australia: Ironshore names new MD
Specialist global insurer Ironshore International has named Mr William Lewis as its Australian MD.
Mr Lewis joined Ironshore in 2012 as Mergers and Acquisitions Manager in Sydney and was promoted to head the specialty business lines unit in 2016. He takes over the top Australian role from Ms Katherine Simmonds, who has left the company.
Australia: SCOR Global Life makes new hires
SCOR Global Life has appointed Ms Debra Pitcher as Chief Underwriter. Ms Pitcher has over 30 years of experience in life insurance and will be responsible for SCOR’s overall Life underwriting strategy in Australia & New Zealand.
SCOR Global Life has also appointed Dr John Cummins as Chief Medical Officer. Dr Cummins has an extensive career within the life insurance industry working across insurance and reinsurance as a consultant CMO. He will work with the SCOR team while continuing his clinical practices.
Australia: XL Catlin appoints Senior Underwriter, Casualty
XL Catlin’s insurance operations announced the appointment of Mr David Mutton as Senior Underwriter, Casualty for Australia. Mr Mutton will be based in Melbourne, and reports to Mr Rory Morison, Head of International Casualty for XL Catlin’s insurance business in Asia Pacific.
Mr Mutton has over 15 years’ experience in the insurance industry, specialising in corporate and commercial casualty. He joins XL Catlin from Zurich Australian Insurance Limited.
Asia: Swiss Re creates combined Property & Casualty Underwriting Hub; announces new Corporate Solutions CEOs in Asia and Australia
Swiss Re has established a combined P&C Underwriting Hub for the Asia Pacific region within its Reinsurance business unit. Ms Sharon Ooi, will lead the unit, as Head P&C Underwriting for Asia, Australia & New Zealand.
In this newly created role, Ms Ooi will bring together all the expertise of Swiss Re’s underwriting teams, including facultative business, to serve its customers. The creation of one hub handling the full range of property and casualty underwriting will enable Swiss Re to support its clients more efficiently with a focus on profitable growth across the region.
Ms Ooi will continue to be based in Singapore and work closely with Swiss Re’s local business heads in the region. She will also continue to serve as the CEO for Swiss Re Singapore.
Mr Victor Kuk, based in Hong Kong, will take on the role of Head, P&C client markets for Southeast Asia, India, Korea, Hong Kong and Taiwan, from Ms Ooi.
Both appointments are effective 1 July.
Swiss Re Corporate Solutions has appointed Mr Jonathan Rake as CEO Asia Pacific, based in Singapore. Mr Rake will move from his current position as Head South East Asia. He succeeds Mr Fred Kleiterp, who has been appointed CEO EMEA.
Mr Rake will oversee the business and implement the company’s expansion strategy in Asia Pacific. He will maintain his current responsibilities ad interim until his successor is appointed.
Swiss Re Corporate Solutions has also appointed Ms Melanie Slack to the role of CEO Australia & New Zealand, effective immediately.
In this position, Ms Slack will be responsible for managing the strategy, development and performance of the company’s presence in the Australian and New Zealand commercial insurance markets. She is currently Head Life & Health Products for Swiss Re Asia and will relocate from Hong Kong to Sydney.
Singapore: Chubb makes key appointment for independent broking network; appoints new Head of Corporate, Accident & Health
Chubb announced that Ms Jen Ong has been appointed as Independent Broking Manager for Singapore. Ms Ong reports to Mr Liam Burrell, Division Head of P&C and Mr Koh Wei Lee, Division Head of Accident & Health and Personal Business Insurance. She also reports in matrix to Mr Benjamin Carey, Head of Broking for Asia Pacific.
Ms Ong brings with her more than six years of industry experience, most recently as Senior Personal Lines Specialist for A&H and PBI. In her new role, Ms Ong will be responsible for spearheading and managing businesses via the Independent Broking network across all lines in Singapore.
Ms Olivia Dale has been appointed Head of Corporate for its Accident & Health business in Singapore. Ms Dale joined the team on 2 May and reports to Mr Koh Wei Lee, Division Head of A&H and Personal Business Insurance.
Ms Dale brings with her more than 16 years of industry experience, most recently as Chubb’s Underwriting Manager – Brokerage for Australia.
As the new Head of A&H Corporate in Singapore, she will be responsible for strategies and activities to enhance efficiency and grow profitability of the business.
Singapore: Stark Group names new Managing Director for InsurTech arm
Stark Group Pte Ltd has newly appointed Ms Regine Lai to spearhead its innovation lab, Insurance Republic.
Ms Lai, Managing Director of Insurance Republic, has worked across Asia and Europe over the last 10 years; specialising in brand consulting for retail, banking & finance and insurance entities, she will be in charge of business & operational development.
Singapore Reinsurers’ Association announces executive committee for 2017/2018
The Singapore Reinsurers’ Association (SRA) has announced the line-up of its Executive Committee (EXCO) for the 2017/2018 term of office with Mr Marc Haushofer, CEO, Asia Pacific & Executive Vice President of Validus Reinsurance Company, being re-elected as SRA Chairman at its Executive Committee meeting.
The SRA also announced the appointment of Mr Kenrick Law, Regional CEO & Head P&C Client Management of Allianz SE Reinsurance Branch Asia-Pacific, as Deputy Chairman; Ms Theresa Wee, Chief Executive of Singapore Reinsurance Corporation, as Honorary Secretary and Mr Desmond Tan, Chief Underwriting Officer, Treaty, SEA & India of Asia Capital Re, as Honorary Treasurer.
Global: Manulife CEO Donald Guloien announces his intention to retire; Roy Gori to succeed Guloien as CEO
Manulife has announced that Mr Donald Guloien, President and CEO, has made the decision to retire as of 30 September, and that Mr Roy Gori, who will become Manulife’s President on 5 June, will succeed Mr Guloien as CEO and join Manulife’s Board of Directors, effective 1 October.
Manulife also announced that Mr Craig Bromley, Senior Executive Vice President and General Manager of the Company’s US Division (John Hancock), has left the company. Mr Michael Doughty, who currently serves as President and General Manager of John Hancock Insurance, has been appointed General Manager of US Division on an interim basis, subject to all necessary approvals.
Global: AIG appoints Brian Duperrault as President, CEO and Director
AIG announced the appointment of Mr Brian Duperreault as President, CEO and Director. Mr Duperreault has resigned as Chairman and CEO of Hamilton Insurance Group. Mr Peter D. Hancock resigned as AIG’s President, CEO and Director concurrent with Mr Duperreault’s appointment.
Mr Duperreault previously served as Chairman and CEO of Hamilton Insurance Group. Prior to this, he was President and CEO of Marsh & McLennan Companies, a global professional services firm offering clients advice and solutions in risk, strategy and people, from 2008 to 2012.
Global: Hamilton announces Chairman and Interim Group CEO
Hamilton Insurance Group has named Mr William C Freda to the position of chairman of the board and Mr David A Brown to the position of interim group CEO.
Both appointments, which are effective immediately, followed the resignation of Mr Brian Duperreault as Hamilton’s chairman and CEO to lead AIG as its new CEO.
Mr Freda joined the Hamilton board of directors in June 2014 and chairs the board’s audit committee. Mr Brown has been a member of the board since Hamilton’s establishment in December 2013 and is chairman of the finance and governance committee.
Global: Chubb appoints Lord Turner as non-executive chairman
Chubb has enhanced its European operations by naming Lord Adair Turner as its new non-executive chairman.
Lord Turner is one of the most renowned names in the UK financial sector, having been executive chairman of the UK’s Financial Services Authority (FSA) from 2008-2013. In addition, he worked in consultancy with McKinsey, advising British and European firms across a range of industries and was director general of the Confederation of British Industry from 1995-2000.
He will take his new role for two of Chubb’s operations – namely Chubb European Group Limited and Chubb Underwriting Agencies Limited, subject to regulatory approval. It will see him work closely with regional president for Europe Mr Andrew Kendrick and sees him step into the shoes of Mr John Napier who recently stepped down.
A tribute to Mr Ashok Kumar Roy
By Anoop Khanna
Mr Ashok Kumar Roy, ex-Chairman-cum-Managing Director of GIC Re, passed away on 5 June. Ashok, as Mr Roy was fondly addressed by his vast circle of friends, was a veteran of the Indian public sector general insurance industry, having joined the Oriental Insurance Company as a direct recruit officer in 1979. He served the company in various capacities till June 2008 when he moved to GIC Re as General Manager.
An agriculture engineering graduate of the prestigious IIT Kharagpur, Mr Roy superannuated from the office of CMD of GIC Re in July 2015. He had assumed that office in January 2012.
It is said that ordinary men can do extraordinary things with sheer determination and the willingness to stay put despite all odds. Mr Roy was one of those who despite their humble beginnings and gruelling childhood, achieved a lot. He was always a votary of innovation and new ideas and established an Innovation Centre in GIC Re besides initiating several unique HR policies in GIC Re.
Vision for GIC Re
With Mr Roy at the helm, GIC Re achieved remarkable growth. Mrs Alice G Vaidyan, present Chairman-cum-Managing Director, GIC Re, recalling her association with him, said: “Mr Roy was a leader who never stressed and wore the mantle of captaincy very lightly. He mentored many and would remain a role model for many in the industry to emulate.”
“Mr Roy’s foremost vision was to ensure that GIC Re assumes a place among the top 10 global reinsurers and achieves underwriting profitability. Both these appeared to be quite distant at the time but are now much closer to fruition, thanks to the path charted out by him,” said Mrs Vaidyan.
Mr G Srinivasan, Chairman-cum-Managing Director of New India Assurance Company Ltd and a batch-mate of Mr Roy, said: “Mr Roy’s contribution to the Indian insurance industry has been remarkable. He played an important role in setting up the India Nuclear Insurance Pool.”
Mr K K Mishra, ex-CEO of Tata AIG General Insurance Company and a batch-mate of Mr Roy, described him as “a good soul, an excellent human being and a professional par excellence.” More of Mr Roy’s batch-mates have recalled his compassion, love, friendliness and an eye for the finer aspects of life.
I was privileged to work very closely with Mr Roy throughout his innings in GIC Re from 2008 to 2015. He was an unassuming human being bestowed with a brilliant mind. He always believed in the adage that nothing is impossible because the word itself says I M possible!
Asia Insurance Review conveys our heartfelt condolences to the family of Mr Ashok Kumar Roy.