Chubb Life, the global life insurance division of Chubb Group (Chubb), has announced the appointment of Kristine Ung as country president of Chubb Life in Taiwan following local regulators approving the appointment on May 4.
Ms. Ung joined ACE Life (ACE) in Hong Kong in July 2015 as general manager (GM), head of wealth management; the firm was subsequently renamed as Chubb Life Insurance Company Ltd (Chubb Life) in early May this year. She will continue to lead the insurance wealth management business while advancing all aspects of Chubb Life’s Taiwanese business.
As country president of Chubb Life in Taiwan, Ms. Ung is charged with diversifying the firm’s Taiwanese life business, including its offshore insurance unit, through channel and product initiatives, building organisational capabilities and maintaining strong relationships with government entities.
In her role as GM, head of wealth management at Chubb Life in Hong Kong, Ms. Ung has been instrumental in building its regional wealth management team and strategies for Asia Pacific. The insurance wealth management business is core to the insurer’s regional strategies and core to Taiwan with its offshore insurance unit.
According to Chubb, Ms. Ung is a transformational senior executive with more than 20 years of successful international insurance and financial services experience providing financial, strategic, distribution, marketing, product, and operations leadership in uniquely challenging environments. Before joining Chubb in 2015, she spent over three-and-a-half years at AIA Group in Hong Kong as regional head of high net worth / regional head of retail IFA, it says on her LinkedIn profile.
As mentioned previously, Chubb officially changed the name of its life insurance subsidiary in Hong Kong from ACE to Chubb Life at the beginning of May. The firm’s new identity in Hong Kong followed ACE Limited’s acquisition of The Chubb Corporation, which was completed on January 14 this year, creating a global insurance leader operating in 54 countries under the well-known Chubb brand.
“Our name is new, but our commitment to provide the best service capabilities and innovative product offerings to our policyholders, agents, brokers and other business partners remains the same. Our customers can be confident in the protection Chubb Life offers for their family’s financial security and wellbeing,” said Allan Lam, country president of Chubb Life in Hong Kong at the time.
Chubb Life is the global life insurance division of Chubb, which has been present in Hong Kong for more than 90 years, via acquisitions by its predecessor companies. As of December 31 last year, Chubb had US$154 billion in total assets.