Asia: Nexus appoints CEO and Non-Executive Chairman
Nexus Group announces two significant appointments to the Nexus Asia leadership team.
Former Lloyd’s Asia Pacific President Mr Tony Egerton has been appointed CEO of Nexus Asia, while Huntington Group managing director Mr Gerard Pennefather has been appointed non-executive chairman with immediate effect.
Principal officer at Nexus Structured Solutions Limited, Mr Egerton is a highly respected individual in the Asian market and has over 35 years of experience in (re)insurance and structured finance. After starting his career in the London insurance market in broking and underwriting positions, he has spent the past 20 years in Asia where he initially worked in Hong Kong with Centre Solutions (Zurich Group’s finite risk and structured finance subsidiary) before becoming president, Asia-Pacific for Lloyd’s, based in Singapore, and then joining Nexus in August 2018.
He has a master’s degree in Economics from Cambridge University, holds an MBA from the London Business School and is an Associate of the Chartered Insurance Institute.
A chartered accountant by training, Nexus Structured Solutions’ chairman Mr Pennefather spent 12 years in corporate finance and treasury in New Zealand with New Zealand Equities and Ord Minett (now part of JP Morgan Chase).
He returned to Singapore in 1996, taught banking for the University of London and the University of Queensland’s MBA program and ran a British Human Resource Consultancy from 1997-2000. In 2001, he founded WP Capital and the Huntington Group which owns, operates and invests in companies focused on the insurance as well as human capital industry.
Asia: Sedgwick expands global presence with leadership appointments
Sedgwick has appointed key senior executives to lead the success of its growth strategy for Asia.
Mr James Ong has joined Sedgwick as CEO of Asia. Mr Ong brings to his new role over 30 years of experience in loss adjusting and client management. He previously led a large adjusting business in Asia and is specialised in handling large and complex losses as well as managing relationships with clients. He will lead Sedgwick’s planned Asian growth strategy, leveraging the company’s renowned global capabilities with local talent and expertise in the region.
Earlier this year, Sedgwick acquired Singapore-based Insight Adjusters and Surveyors and has appointed the firm’s founder, Mr Nehemiah Neo Lian Sun, as non-executive chairman for Sedgwick in Asia and executive chairman for Sedgwick’s operations in Singapore. A pioneer of the adjusting profession in Singapore for over three decades, he has more than 40 years of insurance industry experience. Mr Neo will work closely with Mr David Seng, Sedgwick CEO in Singapore.
Mr Terry Dunning has been appointed head of business development in Asia after working for seven years with a leading global insurer based in Hong Kong. Mr Dunning is an experienced insurance professional, specialising in large and complex risks spanning all facets of the insurance process, including construction, project finance, due diligence, underwriting, risk management and claims investigations. He will focus on growing Sedgwick’s combined service offerings to meet clients’ ever-increasing needs across Asia.
Mr Stephen Hope has been named executive director, head of major and complex losses in Asia. Based in Singapore, Mr Hope will lead the major and complex loss team in Asia to further growth and work with Sedgwick’s global teams to provide bespoke, technical and effective solutions to clients experiencing large and complex losses throughout the region. He previously served as global practice leader of Sedgwick’s mining and resources division, based in Australia.
Mr Darren Livengood has been appointed regional manager for Sedgwick’s operations in Japan and Korea and catastrophe manager for Asia. Based in Tokyo and fluent in Japanese, he joined Sedgwick from a global insurer, having been a part of their catastrophe response teams in the region. Mr Livengood joins the team of global experts providing specialist adjusting, consultancy and guidance in all types and sizes of catastrophe losses in the Asia-Pacific region and leading its growth plans in Japan and Korea.
Asia: Munich Re names new CEOs in Korea and Singapore
Munich Re has appointed Mr Michael Hauer as CEO for Korea effective 1 June 2019. He will succeed Mr Ike Kim who will step into a new role as Munich Re Korea executive director after serving as CEO for Korea for the last nine years.
Mr Hauer will be based in Seoul and report to chief executive Asia Pacific Roland Eckl. However, his appointment is subject to regulatory approval.
Currently based in Singapore, Mr Hauer is head of marine reinsurance for Asia Pacific and is responsible for all aspects of marine treaty and facultative reinsurance. He had led this role from Hong Kong since 2015 before relocating to Singapore in 2017.
Mr Hauer has spent his entire career in Munich Re and has held senior positions in Munich Re’s non-life businesses in Asia over the last two decades. Originally from Germany, he joined Munich Re as an underwriter in 1992 and holds a degree in insurance from the Academy of the German Insurance Association.
The reinsurer has also appointed Linus Phoon as CEO of its Singapore branch. In this capacity he will be responsible for overseeing Munich Re’s businesses in Singapore and the Southeast Asia region. This appointment is effective from 2 May 2019.
Based in Singapore, he will report to Mr Roland Eckl, chief executive, Asia Pacific – Japan, India, Korea and Southeast Asia. Mr Phoon will lead Munich Re’s reinsurance businesses in Singapore and Southeast Asia, providing clients with traditional reinsurance and complex risk solutions, as well as comprehensive consulting services.
Mr Phoon brings with him more than 20 years of reinsurance experience gained at leading reinsurance firms including General and Cologne Re, St Paul Re and Converium, where he was responsible for underwriting and overseeing non-life reinsurance businesses across various Asian markets. He joins Munich Re from Canopius, where he was CEO Reinsurance Asia, since 2008. He succeeds Mr Till Böhmer, who is returning to Munich Re’s head office in Germany to take up a new role.
Mr Nicholas van der Nest, head of product innovation, Asia Pacific for Munich Re’s life and health business, is now based in Hong Kong. He will continue to lead the Group’s traditional product innovation, as well as fostering new innovations through partnerships with relevant InsurTechs, and supporting clients across the region including Greater China. He reports to Mr David Hughes, managing director, life and health, South East Asia, South Asia, Korea and Japan.
Mr van der Nest has more than 15 years of experience in the life insurance and reinsurance industries across various regions. He joined Munich Re in 2017 in Singapore, responsible for product innovation in Asia Pacific. Prior to this, he was Director for Risk Product Innovation at the largest South African life insurance company with responsibility for the end-to-end management of the Risk product set across all channels and all functions.
Australia: Aon grows cyber offer with launch of new solution group
Aon has appointed trusted cyber advisor Mr Chris McLaughlin to lead its newly established cyber solutions group.
The cyber solutions group will bring together its cyber consulting and insurance solutions to meet the evolving risk needs of its clients in Australia.
Mr McLaughlin joins Aon as Director, cyber solutions group in early May. He has a long career in cyber security and risk management supporting leading organisations in EMEA and previously led the cyber transformation and strategy team at PwC, specialising in providing cybersecurity consulting services to some of Australia’s largest companies. In his new role, he will be tasked with building out Aon’s security offering through expansion of its global offering into the Australian market, growing the local team and building additional solutions.
The Hong Kong Federation of Insurers names new office bearers
The Hong Kong Federation of Insurers (HKFI) named its governing committee for the term 2019/2020 at its annual general meeting held on Tuesday, appointing Mr Praveen Daswani from Utmost Worldwide as chairman and Mr Eric Hui from Zurich Insurance as deputy chairman. Mr Daswani, who was formerly the deputy chairman for 2018/2019, succeeds Mr Pui-leung Chan from China Taiping Insurance (HK) who is currently serving as an ordinary member of the committee.
Other members of the governing committee include:
- Ms Charity Au from BOC Group Life Assurance
- Mr Mike Lee from YF Life Insurance International
- Mr Guy Mills Manulife (International)
- Mr Edward Moncreiffe from HSBC Life (International)
- Mr Jimmy Poon from Dah Sing Insurance
- Mr Ivan Tam from Chevalier Insurance
- Ms Winnie Wong from Asia Insurance
Under the Governing Committee of the HKFI, there are two Councils responsible for dealing with all technical matters regarding general insurance and life insurance respectively. The general insurance council is chaired by Mr Hui while the life insurance council is chaired by Mr Mills.
India: LIC Mutual Fund appoints new CEO
Mr Dinesh Pangtey has been appointed as CEO of LIC Mutual Fund. Mr Pangtey started his career as a direct recruit officer with LIC of India in 1984 and has risen through the ranks to this senior position. Prior to taking over as CEO of the company, he was director and CEO at LIC HFL AMC.
Mr Pangtey has 35 years of experience across private equity, life, pension, group superannuation scheme and insurance sectors. He is a direct recruit officer in LIC at various key positions with expertise in marketing. He has served as regional manager marketing channel in Western Zone spanning the States of Maharashtra, Gujarat and Goa. He has headed divisions in J&K, Ahmedabad & Delhi. He has a bachelor’s degree in Science.
Malaysia: Tune Insurance names new CEO
Tune Insurance Malaysia has appointed William Foo as its CEO, effective immediately.
Mr Foo has over 25 years of experience in the general insurance industry, and has been COO of QBE Insurance Malaysia.
He is an associate of the Malaysian Institute of Insurance, a senior associate CIP of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and a registered financial planner. He obtained his bachelor of management degree (with honours) from the Universiti Sains Malaysia.
Mr Foo succeeds Ms Khoo Ai Lin, who was appointed CEO of the insurer’s parent company, Tune Protect Group, earlier this year. She continued to head the Malaysian arm until Mr Foo’s appointment as CEO was announced.
Philippines: Allianz promotes new CEO
Allianz PNB Life Insurance has appointed Alexander Grenz as its new president and CEO, effective June 1 2019.
After more than three years as COO of Allianz’s Philippine joint venture, Mr Grenz will succeed Mr Olaf Kliesow, who will be taking on a new role as global head of rewards and performance at Allianz SE, but will remain to support the transition process throughout the third quarter of 2019.
Mr Kliesow has been with Allianz since 2010, including the last three years as president and CEO of Allianz PNB Life. Since 2018, he served as president of the Philippines Life Insurance Association (PLIA).
In his new role, Mr Grenz will be responsible for steering the growth of Allianz PNB Life, and will continue to develop the German insurance giant’s partnership with Philippine National Bank (PNB). He will report into the regional CEO, life and health, Asia-Pacific, and join the Allianz Asia board as well as the Board of Directors of Allianz PNB Life.
Singapore: FWD appoints new chief business officer
Singapore-based online insurer FWD Group has appointed Ms Boon-Kee Tan as its new group chief business officer. In this role, Ms Tan will lead FWD’s expanded M&A and strategic investment activities as well as work with its shareholders and partners in the region to drive various special projects.
Ms Tan has more than 18 years of experience in the financial services sector across Asia Pacific. She has served in several leadership positions, including as the managing director and head of financial institutions group for Asia Pacific, vice chairman of Southeast Asia and chief operating officer.
Thai General Insurance Association elects new board members
The Thai General Insurance Association (TGIA) has elected new members to the TGIA Board for the years 2019-2021 which will take effect from April 2019 to March 2021. While Mr Anon Vangvasu from Bangkok Insurance has been elected as the board’s president, Mr Somporn Suebthawilkul from Dhipaya Insurance and Ms Bang-Orn Jiravorasuk from The Viriyah Insurance have been elected as vice-presidents.
Mr Jiraphant Asvatanakul from Thaivivat Insurance served as the previous TGIA president and is currently serving as a director and advisory director of the account, finance and investment committee in the board. Meanwhile, current TGIA president Anon Vangvasu had served as secretary-general in the previous board.
Following to the resolution of the TGIA Board, the newly elected secretary general Nopadol Santipakorn from Road Accident Victims Protection Company will remain as appointed chief delegate representing TGIA in the ASEAN Insurance Council board and East Asian Insurance Congress board.
Global: The Geneva Association welcomes Peak Re’s Franz Josef-Hahn as member
Peak Re CEO Franz Josef Hahn has become a member of The Geneva Association, an international think tank for strategically important insurance and risk management issues. Established in 1973, the association’s membership is made up of leaders of top (re)insurers around the world.
With over 30 years of reinsurance industry experience, Mr Hahn co-founded Peak Re in 2013 together with Mr Eckart Roth who is currently its chief risk officer. Prior to founding Peak Re, Mr Hahn held senior roles as the managing partner of FJ Hahn & Associates, managing director of Swiss Re’s Greater China region and head of casualty at Munich Re’s Hong Kong office.
Originally from Germany, Mr Hahn holds a law degree from the Johannes Gutenberg University Mainz and practised as a lawyer before joining the reinsurance industry.
Global: AXIS names new group chief actuary
AXIS announced the hiring of Tony Jordan as its group chief actuary. In this role, Mr Jordan will have oversight of the organisation’s corporate actuarial function including reserving functions, capital modeling and investment risk. This will include integrating the information, insights and analytics across these functional responsibilities to provide guidance to the company’s business units. Mr Jordan will also oversee the company’s group reserve committee. He will report to Pete Vogt, group CFO, and will be based in the company’s London office.
He brings more than 30 years of actuarial experience in the (re)insurance industry from his time at Aon, Endurance, ACE and, most recently, Chubb, where he served as Chief Actuary, Europe, Eurasia and Africa.
Global: Saudi Re appoints new chief underwriting officer
As part of the efforts to further reinforce its human capabilities, Saudi Re is pleased to announce the appointment of Mr Abdelfattah Chami as Chief Underwriting Officer (CUO).
Mr Abdelfattah, who was Saudi Re’s head of non-life underwriting, is a well-known reinsurance professional in the MENA region and enjoys more than 20 years of experience in the technical and underwriting field. During his technically intensive career, he assumed different senior roles with key market players.
In his new executive role as CUO, Mr Abdelfattah will lead the underwriting team to further strengthen the relationship with clients and brokers and develop growth and diversification opportunities for Saudi Re. A