Life Insurance Association re-elects Tan Hak Leh as President

Tan Hak Leh has been re-elected for a second one-year term.

According to LIA, serving as Mr Tan's Deputy President again is Neal Armstrong, General Manager and Principal Officer of Zurich International Life's Singapore office. Succeeding Philip Seah in the other Deputy President's seat is Mr Simon Newman, the Chied Executive Officer of Aviva Singapore.

Into its tenth year, the LIA annual luncheon was attended by guest-of-honour Mr Lee Boon Ngiap, Assistant Managing Director of the Monetary Authority of Singapore for Banking and Insurance, and some 250 industry representatives.

An industry veteran, Mr Tan boasts more than 15 years of experience in the life insurance industry, spanning both the private and public sectors. Prior to joining Great Eastern Life, he spent 5 years with the Monetary Authority in Singapore where he was actively involved in the formulation and implementation of the risk-based capital framework for the life insurance industry.

Neal Armstrong took up his current position in early 2009. Prior to moving to Singapore, he spent three years in Dubai where he was responsible for the management of the company’s key distributors in the Middle East and Southeast Asia. Mr Armstrong has also previously held several sales and management positions in the UK where he gained 9 years of experience.

Simon Newman stepped into his current position with Aviva Singapore in 2009 after a year as Managing Director, overseeing all aspects of Aviva’s business in Singapore. Prior to joining Aviva, Mr Newman was a Director with Prudential in the United Kingdom (UK) where he was responsible for rebuilding its direct distribution channels. He also spent 24 years at Barclays in the UK where he held several positions spanning mergers and acquisitions, operations and e-commerce.

In his speech at the LIA’s tenth annual luncheon, Mr Tan said that he would continue to build on the success of 2010’s key focus areas – namely in promoting protection and long-term savings, raising industry standards and building a competitive and productive industry.

Mr Tan said that the LIA plans to continue its consumer education efforts to strengthen awareness and understanding of the value of life insurance throughout one’s life cycles. “The industry presently offers a comprehensive range of innovative solutions for varying needs, situations and lifecycles which Singaporeans can take advantage of. With retirement planning, protection needs and health insurance taking centre stage, education on life insurance matters will remain a prime focus for the industry.”

Mr Tan also said that the LIA will continue to raise overall industry standards to advance the growth and development of the industry. “The LIA is resolute about seeing progressive improvements in the overall industry standards and will continue to work closely with all stakeholders. This is fundamental in building trust and confidence in our industry and its representatives,” said Mr Tan.

In addressing the need to build a more competitive and productive industry, Mr Tan stressed the importance of attracting and retaining a skilled workforce. “The success of our industry lies in our ability to attract and retain the best at all levels in this highly competitive employment market. We will continue to promote the rewarding career development opportunities offered in the life insurance industry.”