Asia: AXA announces major leadership changes
AXA has announced that Mr Jean-Louis Laurent Josi, CEO of AXA Asia and a Member of the Group Management Committee, has decided to step down from his executive responsibilities. He will remain with the Group as Senior Advisor, reporting to the Group CEO Thomas Buberl, to ensure an effective leadership transition in Asia until end of 2017. His successor will be announced before the end of the third quarter.
Meanwhile, AXA Hong Kong has announced that Mr Stuart Harrison will retire from the CEO position, effective 31 August. Mr Harrison will become Director & Senior Advisor to continue to lend his experience and expertise to AXA Hong Kong.
Succeeding Mr Harrison from 1 September is AXA Asia Life CEO Mr Etienne Bouas-Laurent. Mr Bouas-Laurent is currently focused on expanding the Life & Health business in the region. Prior to joining AXA Asia in 2016, he was CFO at AXA Germany and has also led its wealth management business in France.
Asia: Milliman expands employee benefits practice with new hire
Milliman is further expanding its employee benefits practice in Asia as demand grows for the firm’s services with the hire of Mr Mark Whatley as a consulting actuary.
Based in Singapore, Mr Whatley will focus on further developing the firm’s employee benefits business across multinational, local and government-linked organisations. He previously directed Willis Towers Watson’s benefits practice in Southeast Asia. His benefits and financial services experience spans 22 years and three continents.
Asia: AIG Asia Pacific names new head of Client & Broker Engagement
AIG has announced Ms Rebecca Harrison as Head of Client & Broker Engagement Asia Pacific.
She joined AIG’s Major Accounts Practice in London in 2006, before moving to Australia in 2010 to specialise in Relationship Management for Major and Multinational Accounts. In February 2015, she assumed the role of Head of Client & Broker Engagement in Hong Kong.
Asia: Aviva Investors hires new lead for its wholesale distribution business
Aviva Investors has appointed of Mr Charles Wong as Head of Wholesale Distribution, Asia.
Based in Singapore, Mr Wong will be responsible for growing Aviva Investors’ Wholesale platform in Asia and managing relationships with private banks, family offices and financial advisers in the region.
Mr Wong has over 12 years’ experience working in fund distribution and most recently, he was Vice President of Institutional Distribution at Credit Suisse Asset Management.
Asia: Metlife introduces new Chief Marketing Officer
MetLife announced that Mr Sanjeev Kapur has joined the company as senior vice president and chief marketing officer (CMO) of Asia. He will report to Ms Esther Lee, MetLife’s executive vice president and global chief marketing officer and Mr Chris Townsend, president of Asia. He will also join the Asia Leadership Team.
As CMO of Asia, Mr Kapur will lead the acceleration of MetLife’s brand transformation across the region. His focus will be on strengthening MetLife’s digital, data and design capabilities to help deliver personalised and engaging experiences to MetLife’s existing customers and new prospects, with a particular focus on mobile.
Australia: ARPC welcomes new Chair and Board member appointments
Australian Reinsurance Pool Corporation (ARPC) has announced the appointment of business advisory expert and social entrepreneur Mr Ian Carson as the new ARPC Chair, and legal and tax expert Ms Karen Payne will be ARPC’s newest Board member.
Mr Carson took over from Ms Joan Fitzpatrick, the previous ARPC Chair, after she stepped down on 30 June 2017, while Ms Payne will begin her term on 5 October.
AIA Australia appoints three to executive team
AIA Australia announced changes to its executive team with the creation of the new roles.
Mr Harry Efthimiou has been appointed Chief Health Insurance Officer. He has been with AIA Australia since 2010 as CFO and Chief Finance & Strategy Officer.
Mr Tim Tez takes up the newly created role of Chief Strategy Officer for Australia and New Zealand, with responsibility for Strategy, Corporate Affairs and Government Relations. He was Chief Marketing Officer of AIA from 2009-2014.
Mr Michael Chernov has been appointed Chief Financial Officer for Australia and New Zealand. He joined AIA Australia in 2009 and has held senior roles in the Actuarial, Finance and Strategy teams.
Australia: Aon expands health & benefits team with new hire
Aon has announced the appointment of Mr Neil Robinson as Sales Director for its Health & Benefits team.
Mr Robinson brings 17 years’ experience working in life, accident and health, and the medical insurance markets in both Australia and the UK.
Australia: Gilchrist Connell announces new promotions
Specialist insurance law firm Gilchrist Connell has announced several promotions.
Ms Verginia Serdev-Patterson from its Perth office has been promoted to Special Counsel, Ms Carla Turner from its Sydney office to Senior Associate and Ms Rosa Raco from its Melbourne office to Senior Associate.
Australia: RMIA announces new CEO
The Risk Management Institution of Australasia (RMIA) has appointed Mr Scott Ryrie as its new CEO, effective 7 August.
Mr Ryrie is a widely-respected, highly-successful leader with decades of experience in risk management. His career in the insurance and reinsurance industry spans multiple countries, primarily in Australia and most recently in Singapore.
China: Willis Towers Watson unveils new head for life and health practices
Willis Towers Watson has appointed Ms Mei-Chee Shum as Greater China life sales and practice leader in its insurance consulting and software business.
Ms Shum will focus on the mainland China, Hong Kong and Taiwan markets, and will be responsible for leading and developing the life insurance consulting practice across Greater China.
Based in Hong Kong, she will report to Mr Richard Collis, managing director for Willis Towers Watson’s insurance consulting and software business in Asia Pacific.
Hong Kong: Tahoe appoints CEO to lead Dah Sing Life
Following the acquisition of Dah Sing Life by Tahoe Investment Group, the latter has announced the appointment of Ms Paula Wai-Yee Choi, who has previously held key positions in major multinational insurance companies, to be Dah Sing Life’s CEO.
As its CEO, Ms Choi will be in charge of Dah Sing Life’s insurance operations in Hong Kong, facilitating Tahoe Investment and leading Dah Sing Life’s management team to build an international brand by developing high quality products and services.
Hong Kong: Chubb Life announces new COO
Mr Steven Kwok has joined Chubb Life in Hong Kong as its Chief Operations Officer.
Prior to his new role, Mr Kwok, who has over 20 years of life operations management experience, had been the chief life operations officer of AXA China from 2008 to 2016, where he headed the firm’s life insurance operations to serve a range of distribution channels.
As Chubb Life’s COO, Mr Kwok is charged with leading the Hong Kong operations team to support the growth of the company. In alignment with the company’s business objectives, he will provide strategic advice to achieve operational efficiency.
Hong Kong: Charles Monat appoints new CEO
One of the largest independent life brokers in the world for high net worth individuals, Charles Monat Associates (CMA) has appointed Mr Berry Wong for the role of Chief Executive Officer in Hong Kong.
Mr Wong will join the Operational Committee in order to enhance the firm’s product and service offering for high net worth clients in Hong Kong, as well as through its ongoing partnership with Willis Towers Watson. He will report to Mr Yves Guélat, Charles Monat’s Group CEO.
India: Canara HSBC Life Insurance introduces new CIO
Canara HSBC Life Insurance has appointed Mr Sanjeev Agrawal as CIO. Prior to this, he was CIO at Apollo Munich Health Insurance Company.
Mr Agrawal has over three decades of work experience across top organisations including Apollo Munich Health Insurance, IBM India, NIIT and CMC.
Japan: Munich Re appoints new CEO
Munich Re has appointed Mr Brian Jinzenji as Representative for Japan, CEO.
Mr Jinzenji has over 25 years of experience in the non-life insurance industry in Japan and the US. Before assuming his new role, he held the position of CEO with AXA Assistance Japan. This decision follows Munich Re’s Japan office turning into a composite branch on 1 July.
South Korea: AGCS SE opens new Seoul branch, names CEO
Mr Noh Chang Tae will assume the role of CEO of Allianz Global Corporate & Specialty SE (AGCS) South Korea, following the announcement of the opening of their new branch in Seoul.
Mr Noh, a Korean national, was previously in the regional market management team in AGCS Singapore, and has almost 25 years of experience in the insurance market. AGCS is the first foreign non-life insurer in almost a decade to receive regulatory approval from South Korea’s Financial Services Commission (FSC) to open a branch in Seoul.
Malaysia: Trust Re appoints General Manager for Labuan office
Trust Re has appointed Mr Kevin Quek as General Manager for its Labuan-licensed branch office.
Mr Quek will be leading and managing all activities of the growing and experienced team in the branch to ensure consistent delivery of services across all Trust Re’s Regional Centres, in line with its strategic direction and in compliance with regulatory and company standards.
Global: AGCS reveals new regional property chief
Mr Scott Milligan has been appointed Regional Manager of Property at Allianz Global Corporate & Specialty (AGCS), replacing Mr Matt Hart.
Mr Milligan has more than 12 years’ experience in senior underwriting roles across property and energy markets in Sydney, Singapore and London.
CEO Willem van Wyk said that Mr Hart is taking time off before considering his next opportunity, and thanked him for his contribution over the past six years.
Global: AIG announces new COO
AIG has appointed Mr Peter Zaffino as Executive Vice President, Global Chief Operating Officer effective 1 August. Mr Zaffino joins AIG after serving as CEO of Marsh LLC and as Chairman of the Risk and Insurance Services segment of MMC since 2015.
In his role at AIG, Mr Zaffino will lead the day-to-day business of all country operations, including US Commercial field operations and AIG’s multinational organisation, as well as Global Business Services, Administration and Communications. He will develop AIG’s long-term strategy and operating plan, and be responsible for executing the Commercial and Consumer strategies.
Global: JLT Re expands credit & political risk team
JLT Re, has announced that Mr David Edwards will be joining JLT Re’s expanding Credit & Political Risk team once he has completed his contractual obligations with his current employer.
Mr Edwards joins from Guy Carpenter, where he was most recently Managing Director Credit, Bond and Political Risk. He is expected to join later in the year and will be based in JLT Re’s London office.
Global: XL Catlin appoints new head of Global Programmes
XL Catlin’s insurance operations has appointed Ms Sonja Ochsenkuehn as Head of Global Programs with worldwide responsibility.
Ms Ochsenkuehn’s remit is to drive the network performance and best in class service delivery. She will have direct responsibility over XL Catlin’s global program platform, with teams in New York, London, Zurich, Mexico City, Hong Kong, New Delhi and Vienna.
Global: IFoA elects new president
The Institute and Faculty of Actuaries (IFoA) has announced that Ms Marjorie Ngwenya will begin her presidential term in July, taking over from Mr Colin Wilson. For the past year, Ms Ngwenya has held the position of President-elect. She is based in South Africa and becomes the first President of the IFoA to be based outside the UK.
Ms Ngwenya has been an active volunteer for the IFoA since qualifying as a Fellow in 2006. She has extensive experience in risk management, consulting and reinsurance.
A tribute to Mr Devdatt Sengupta
By Anoop Khanna
Mr Devdatt Sengupta, ex-Chairman of General Insurance Corporation of India, passed away on 24 June 2017. He was 75. Mr Sengupta, fondly remembered as Shinto by his vast circle of friends, was a visionary who shaped the Indian reinsurance industry, especially GIC Re as it stands today.
Mr Sengupta began his career in insurance in 1963 with Guardian Assurance Company Ltd in the then Calcutta. Over the years, Mr Sengupta worked in several capacities in National Insurance before he took over as Chairman-cum-Managing Director of New India Assurance Company Ltd, in 1996.
“Bold and fearless decision maker”
During the process of liberalisation and reorganisation of the Indian insurance industry in late nineties, Mr Sengupta was elevated as the Chairman of GIC in June 1998. When he hung his boots as Chairman-cum-Managing Director of GIC Re in June 2002, he had ensured that GIC Re is firmly on the path to become a true international reinsurer. He had the vision to open the first international office of GIC Re in 2000 at London, the Mecca of Reinsurance. Mr Sengupta introduced GIC Re to the world at Monte Carlo in 2001.
Mr R Chandrasekaran, ex-General Manager GIC Re and currently Secretary General of General Insurance Council of India, said: “I have no words to express my emotions and feelings. I learnt a lot of business acumen from him. He was bold and a fearless decision maker.”
Mr Joseph Augustine, currently heading the XL Catlin branch in India said: “Mr Sengupta was a wonderful person and a professional reinsurer, I owe a lot to him for much that I have achieved in my career.”
Mr Sengupta was also an excellent culinary aficionado and connoisseur of the finest chocolates! He is survived by Mrs Sengupta and three sons.