Ng Seng-leong, managing director and CEO at Singapore-based Asia Life Assurance, is retiring mid-August leaving the company in better shape to face the rapid modernization that has taken the sector by storm, but still with an uncertain future.
He says no successor has been chosen and that the firm is now seeking one. He joined the firm six years ago and found a good company but with a narrow base of products and distribution. The local company, founded in 1948, at the time relied on a traditional agency sales force that was content to remain a small player in the face of the traditional insurance giants AIG, Great Eastern Life, NTUC and Prudential...
