HSBC Life Singapore's management team has welcomed new chief product officer Lee Kah Jing, chief risk officer Gajan Yogaranandan and CFO Kapil Arora. Their appointments seek to support the Singapore insurance business's growth further as it ramps up its local manufacturing and distribution activities
Back in May 2019, the insurer had made sweeping upgrades to its business including the launch of its new brand, the expansion of its product suite and the expansion of its distribution channel to include independent financial advisory (FA) firms.
The business overhaul is said to reflect the overall growth and evolving composition of Singapore’s insurance market including an ageing and wealthier domestic population as well as a rise in international citizens pursuing more sophisticated wealth and insurance solutions.
In his new role, chief product officer Lee Kah Jing heads the strategic implementation and execution of new product developments and the management of HSBC Life Singapore’s product suite. He was appointed on 1 July this year.
Mr Lee is a fellow of the Society of Actuaries with over 10 years of life insurance experience across major areas including analytics, enterprise risk management, product development and actuarial pricing.
He was most recently the head of product actuarial at Sun Life Financial Indonesia where he successfully grew the business by expanding its product suite and deepening collaboration with main distribution partners.
Meanwhile, new CFO Kapil Arora will be responsible for all regulatory, statutory and management financial reporting of HSBC Life Singapore. He was appointed on 19 August 2019.
Mr Arora is a chartered accountant who has been with the HSBC Group for over a decade after joining its Indian insurance joint-venture Canara HSBC Oriental Bank of Commerce Life Insurance in 2007. He was most recently the head of financial control at HSBC Insurance (Hong Kong).
New chief risk officer Gajan Yogaranandan has also been with the HSBC group for some time now after joining in 2011. His most recent role was the lead market and credit risk manager for HSBC’s Europe insurance business
In his new role which was effective on 26 August 2019, Mr Yogaranandan will lead the insurance risk function in identifying, assessing and monitoring risks faced by HSBC Life Singapore’s Insurance business. He will also provide strategic counsel to the management team on major risk concerns.