AIA Philippines selects new CEO as Ang retires
AIA PHILIPPINES has selected a new chief executive officer (CEO) after incumbent CEO Kelvin Ang announced his retirement.
AIA Singapore’s former chief customer and digital officer Melissa Teo will replace Mr. Ang starting Jan. 1, subject to regulatory approvals, AIA Philippines said in a statement on Monday. Mr. Ang will stay as advisor to the CEO until Feb. 29.
Ms. Teo has held various positions in strategy and planning, business development, corporate solutions and operations in AIA since joining the group in 2001.
“I’m excited to be joining the AIA Philippines team. These are exciting times for our business. Powered by the legacy of our 76 years in the market and the strength of the AIA Group, we are well positioned to bring Filipinos the best AIA has to offer. Our recent acquisition of Medicard furthers our ability to help more customers address their health and protection needs,” Ms. Teo said.
AIA Philippines in March completed its acquisition of health maintenance organization MediCard Philippines, Inc. after securing all the required regulatory approvals. The company did not disclose the value of the acquisition.
Meanwhile, Mr. Ang will leave the company after 26 years. He previously held leadership positions in AIA in Hong Kong, Malaysia, Indonesia, Vietnam, and China.
“It has been quite a journey for me working these past five years alongside our people and partners at AIA Philippines, through the challenges of a worldwide pandemic and back to regaining our footing thereafter. I will leave with a grateful heart knowing that we have done much to bring more focus on the importance of protection…,” he said.
AIA Philippines’ premium income stood at P3.88 billion in the first quarter, Insurance Commission data showed. It posted a net loss of P1.11 billion in the period.
