Asia: Chubb announces management appointments for its Life and General Insurance operations
Chubb Limited has announced several management appointments for its general and life insurance operations across the world.
Mr Cunqiang Li has been named COO of Chubb Life, the company’s international life insurance division. Currently Chairman and CEO of Huatai Life, a joint venture between Chubb and the Huatai Insurance Group in China, Mr Li will be based in Hong Kong and will focus on leading the day-to-day operations of Chubb Life’s Asian life insurance entities, in addition to continuing to provide governance oversight to the operations of Huatai Life. He will report to Mr Russell Bundschuh, Senior Vice President, Chubb Group and President, Chubb Life.
Mr Kevin Goulding has been named President of Combined Insurance, the company’s agency and worksite-based personal accident and supplemental health insurance company. Currently Regional President, Asia Pacific, of Chubb Life, Mr Goulding will be responsible for all management aspects of this business, which has operations in the United States and Canada. He will be based in Chicago and will report to Mr Ed Clancy, Executive Vice President of Chubb Group, Global Accident & Health and Life.
Mr Brad Bennett has been named Regional President of the company’s Far East operations in Japan. Currently Senior Vice President, Chubb Group and President, Combined Insurance, Mr. Bennett will be responsible for the management and business results for all general insurance operations including property and casualty, accident and health, and personal lines. He will be based in Tokyo and will report to Mr Juan C Andrade, Executive Vice President, Chubb Group and President, Overseas General Insurance.
Asia: PartnerRe announces new Head of Business Development
PartnerRe has welcomed Mr Francis Savari to the team.
As Head of Business Development Asia Pacific, Mr Savari will be responsible for seeking out new business opportunities in the region and ensuring an integrated approach to strategic client management in Asia Pacific.
Mr Savari joins PartnerRe from a long-standing career at Munich Re, most recently as Regional Head of Client Management (Non-Life) for Southeast Asia. He reports jointly to Mr James Beedle, Head of Asia Pacific P&C and CEO Partner Reinsurance Asia Pte. Ltd, and to Mr Philippe Domart, Asia Pacific P&C, Head of Underwriting.
Asia: Helvetia Insurance Company Switzerland has appointed a new CEO
Helvetia has appointed Mr Martin Gingg as the new CEO ad interim of its Asia Operations.
He reports directly to the CEO of Specialty Markets at Helvetia, Mr David Ribeaud, and is responsible for the development of Specialty Lines in Asia as well as the execution of strategic initiatives to support Helvetia’s long-term growth ambition.
Mr Gingg also serves as the CFO of Specialty Lines International Markets in Switzerland and is the CEO of Helvetia Swiss Insurance Company in Liechtenstein.
Asia: Prudential names new CFO
Prudential Corporation Asia has announced that Mr Raghu Hariharan is joining its executive leadership team as CFO, succeeding Mr Adrian O’Connor, who is leaving the company.
Mr Hariharan is currently Group Director of Strategy and Capital Markets at Prudential plc and a member of the Group Executive Committee. In his new role at PCA, he will have responsibility for Finance, Actuarial, Capital Markets, Strategy and Investor Relations across the region. These functions play a key role in driving the company’s ambitious business agenda.
China: HSBC Life appoints CEO
HSBC Life Insurance Company Limited, a joint venture between HSBC Insurance (Asia) Limited and The National Trust Limited, has appointed Mr Danny Lui as the CEO. Based in Shanghai, Mr Lui is tasked to drive the growth of HSBC’s insurance business in mainland China. The appointment has been approved by CIRC.
Mr Lui has been CFO in HSBC Life since March 2013 and additionally took up the role of interim CEO from January 2017.
Hong Kong: Munich Re strengthens its Life and Health team
Mr David Hughes, Head of Life and Health for Asia (excluding Greater China) at Munich Re, will relocate from Singapore to Hong Kong in December to focus on providing high quality, coordinated services to multinational clients across Asia. Mr Hughes will continue to report to Mr Daniel Cossette, Head of Life and Health for Asia Pacific, Africa and Middle East.
Zurich has new President Director for Zurich Topas Life and Country Manager for Zurich Indonesia
Zurich has appointed Mr Chris Bendl as President Director for Zurich Topas Life and Country Manager for Zurich Indonesia. He will report to Mr Jack Howell, CEO, Asia Pacific.
Mr Bendl joins Zurich having spent over 23 years with AIG in its international life operations in the Middle East and Southeast Asia and also Manulife. He has held leadership positions in the investment, pension and insurance subsidiaries in Canada, Indonesia, Hong Kong and the Philippines.
Malaysia: Labuan Financial Services Authority appoints new Director-General
The Labuan Financial Services Authority (Labuan FSA) has announced that the Prime Minister and Minister of Finance, Najib Tun Abdul Razak, has approved the appointment of Mr Danial Mah bin Abdullah as the new Director-General of Labuan FSA for a three-year term, effective from 3 October 2017.
Mr Danial Mah assumes the position of Director-General following the completion of Datuk Ahmad Hizzad bin Baharuddin’s secondment to Labuan FSA. The Authority would like to record its appreciation to Datuk Ahmad Hizzad for his contributions during his tenure with the Authority.
He is currently the Deputy Director-General of Labuan FSA, a position he has held since 2007. He is also the Chairman of the Credit Risk, Investment and Risk Management Committee, Asset Management Committee and Talent Management Committee of Labuan FSA. He is also the Secretary to the Authority of Labuan FSA. He joined Labuan FSA in 1997 and has held various positions in the organisation.
Mr Mah is a member of the Executive Committee of the International Islamic Financial Market (IIFM), member of the Financial Stability Committee, alternate Board member of the IIFM, and a Board member of the Labuan IBFC Incorporated Sdn Bhd, Labuan FSA Incorporated Sdn Bhd and Pristine Era Sdn Bhd. He also served as the interim Chief Executive Officer of the Labuan IBFC Incorporated Sdn Bhd since 2015.
Singapore: Zurich appoints new Chief Underwriting Officer
Zurich’s Singapore branch has appointed Mr Anish Jadav as Chief Underwriting Officer (CUO) as the global insurer grows its regional underwriting capability in Singapore.
Mr Jadav will lead underwriting for the Commercial Insurance business in Singapore as well as manage the Speciality Lines of Accident & Health, Financial Lines, Marine and Surety. He joins Zurich’s Singapore branch from the company’s Commercial Insurance business in the United Kingdom where he worked in multiple roles, including Deputy CUO, and Head of the Facilities portfolio.
Mr Jadav will work closely with the Asia Pacific Regional Commercial Insurance team led by Mr Chris Waterman.
Singapore: Chubb has new Head of Casualty
Chubb has appointed Mr Edward Rayfield as Head of Casualty in Singapore. In his new role, he reports to Mr Liam Burrell, Division Head of Property & Casualty (P&C).
Mr Rayfield, who was previously Casualty Manager, Global Broker Unit NSW & ACT for Chubb in Australia, will now be responsible for the day-to-day management of the Casualty and Work Injury Compensation portfolios in Singapore, including all underwriting and market-facing functions. He will also spearhead product development as well as underwriting initiatives to achieve sustainable growth.
Thailand: Kennedys to launch Bangkok office
Global law firm Kennedys has strengthened its presence in the Asia Pacific region with the addition of an office in Bangkok as it continues to build its international footprint.
Kennedys has hired Mr Suraphon Rittipongchusit, formerly a senior partner in the insurance and litigation department of DLA Piper in Bangkok, to head up the office. He is supported by a second partner, Mr Supreedee Nimitkul, and senior associate, Mr Tassanu Chutikanon. Additionally, Mr Ian Johnston, a solicitor and foreign qualified lawyer, relocates from Kennedys’ Singapore office.
Mr Rittipongchusit is an insurance and commercial litigation specialist with experience in advising some of the most recent high-profile disputes in Thailand, such as the 2010 riots and 2011 floods.
Mr Nimitkul is a specialist in corporate and commercial matters, with over 20 years’ experience representing major domestic and international clients.
Global: AIG announces changes to its organisational structure
AIG has announced that it is planning to make changes to its organisational structure.
The company will no longer have Commercial and Consumer segments, and will transition to: General Insurance, led by Mr Peter Zaffino, as CEO; Life & Retirement, led by Mr Kevin Hogan, CEO; and a stand-alone, technology-enabled platform, led by Ms Seraina Macia, CEO.
General Insurance and Life & Retirement will each have distinct business units that reflect how business is marketed and underwritten. General Insurance will include Commercial, Personal Insurance, and U.S. and international field operations. Life & Retirement will include Group Retirement, Individual Retirement, Life, and Institutional Markets.
The company expects that its year-end financial reporting will reflect the new structure. AIG also intends to align its incentive and performance management systems accordingly. As a result of the structure changes, Mr Rob Schimek, CEO of Commercial, will be leaving the company at the end of October to pursue other interests.
In addition, Mr Charles Fry will join the company as Head of Reinsurance, Operations and Transformation, General Insurance. Mr Fry will oversee AIG’s Global Reinsurance, Shared Services, Transformation and Administration functions. He will report to Mr Peter Zaffino, CEO, General Insurance and be part of the General Insurance Executive Leadership Team.
Global: Guy Carpenter appoints new leader for global innovation and product development
Guy Carpenter & Company has announced the appointment of Mr Claude Yoder as Managing Director and Global Chief Innovation and Product Development Officer.
Mr Yoder will be based in the New York office and report to Mr Rob Bentley, Managing Director and Head of Global Strategic Advisory. Prior to this appointment, Mr Yoder was Head of Marsh Global Analytics. A