Hong Kong insurer AIA Group Ltd has appointed Melita Teo as chief executive officer of AIA Philippines.
The appointment is effective January 1.
Teo, who has worked at the insurance group for 22 years and is currently chief customer and digital officer of AIA Singapore, will succeed Kelvin Ang, who is retiring next year, AIA Philippines says in a statement on November 23.
Ang will stay as adviser to Teo until the end of February.
Teo joined AIA Group in 2001 and has held a number of senior roles, including chief operations officer, chief corporate solutions officer, chief business development officer, and head of planning and strategy.
She says in the statement that she is “excited” to join AIA Philippines, adding that “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,” she says.
Figures from the Insurance Commission of the Philippines showed that AIA Philippines posted a premium income of 3.88 billion pesos (US$69.97 million) in the first quarter, and a net loss of 1.11 billion pesos.
