The members of the Life Insurance coverage Affiliation, Singapore (LIA Singapore) gathered to elect its new administration committee at its annual common assembly on March 04.
Khor Hock Seng (pictured) of Nice Japanese was re-elected as president, whereas Nishit Majmudar, of Aviva, and Kevin Stone, of Buddies Provident, will function deputy presidents for a second consecutive one-year time period of workplace, in line with a press release from the affiliation.
“Present uncertainties on the earth underscore the important want for all times insurers to offer safety when it’s most wanted,” mentioned Khor. “The life insurance coverage trade stays dedicated to this. As well as, this 12 months, we’ll proceed to spend money on initiatives that may convey worth to prospects, our workforce, and society at massive.”
The administration committee, composed of eight members, recognized three prime priorities for the 12 months, particularly: digitalisation and workforce transformation, sustainable insurance coverage, and elevating tradition and conduct throughout the trade.
The opposite firm representatives elected to the LIA Singapore’s administration committee for 2020 are: Patrick Teow (AIA), Jean Drouffe (AXA), Khoo Kah Xiang (Manulife), Andrew Yeo (NTUC Revenue), and Dennis Tan (Prudential).
“The LIA has been working intently with MAS to boost requirements within the insurance coverage trade and safeguard client pursuits,” mentioned Daniel Wang, government director, insurance coverage division, Financial Authority of Singapore (MAS). “Previously 12 months, LIA, along with the opposite insurance coverage associations and MAS, has efficiently established the Insurance coverage Tradition and Conduct Steering Committee to advertise a stronger danger tradition within the trade. LIA has additionally promulgated accountable recruitment practices to make sure monetary advisory representatives proceed to serve their prospects nicely. I congratulate the LIA Administration Committee on its profitable election and sit up for the continued partnership between LIA and MAS.”