HONG KONG, 29 May 2018 – AIA Group Limited (“AIA”; or the “Company”; stock code: 1299) is pleased to announce the appointment of Daisuke Iwase as Group Chief Digital Officer and a member of the AIA Group Executive Committee, with effect from 1 July 2018.
Mr. Iwase currently serves as President of Lifenet Insurance Company (“Lifenet”), a listed digital direct life insurance company in Japan. Mr. Iwase co-founded Lifenet in 2006 and took the company public on the Tokyo Stock Exchange in 2012. According to its most recently announced results for the year ended 31 March 2018, Lifenet provided over US$18.8 billion of sum assured on death to the holders of more than 260 thousand policies in-force, demonstrating its strong and consistent focus on protection. Since its IPO, Lifenet has more than doubled its number of policyholders, while total premiums for the overall Japanese life insurance industry declined over the same period. Prior to co-founding Lifenet, Mr. Iwase started his career as a strategy consultant with The Boston Consulting Group in Tokyo before establishing the Japan office of a US-based technology venture capital firm and working in an international private equity firm. He holds an MBA from Harvard Business School and an LLB from The University of Tokyo.
Mr. Ng Keng Hooi, AIA Group Chief Executive and President, said: “Daisuke is a well-respected pioneer and leader in digital innovation within the life insurance sector, and I am very excited to welcome him to AIA. As I shared in AIA’s 2017 annual results presentation, one of our strategic priorities is to deploy new digital technologies as an enabler across all aspects of our business. Daisuke’s appointment today reinforces our commitment to digital innovation, especially in transformative new business models that will future-proof our business for sustainable growth over the long term. He is uniquely qualified to lead this area and I am confident that we will benefit from his deep experience and expertise.”
Mr. Iwase said, “I am honoured to join AIA, which has demonstrated an outstanding track record of growth since its IPO in 2010 and today remains exceptionally well positioned for success. I am looking forward to working with the dynamic and high-calibre team at AIA and to making a contribution to its continued advancement as the preeminent life insurance provider in the world.”
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AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar.
The business that is now AIA was first established in Shanghai almost a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$216 billion as of 30 November 2017.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 30 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
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