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AIA Group Appoints Mari Elka Pangestu as one of the Independent Non-executive Directors
AIA Group Limited, and its subsidiaries, is one of the largest and best-known life insurance groups in Asia, with a vast presence in 18 markets.
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T
he Board of Directors of AIA Group Limited recently announced the appointments of Mari Elka Pangestu and Ong Chong Tee as Independent Non-executive Directors (INED) and members of the Nomination Committee of the Company, both with effect from July 1.
AIA Group Limited, and its subsidiaries, is one of the largest and best-known life insurance groups in Asia, with a vast presence in 18 markets. The group was first established in Shanghai more than a century ago in 1919, and quickly became a market leader in life insurance premiums and holds leading positions across the majority of its markets.
“I am delighted that Ms. Mari Elka Pangestu and Mr. Ong Chong Tee have joined our Board. They each bring a wealth of international experience across a range of subjects that will add meaningfully to our already deeply experienced Board,” said Edmund Tse, AIA Group Chairman.
With the arrival of its new members, the Group has also announced the upcoming retirement of Swee-Lian Teo, which is expected to take effect in September. Upon her retirement, she will also step down from her position as the Chairman of the Risk Committee and a member of the Nomination Committee. AIA INED, Chow Chung-Kong, has been appointed as her successor as the Chairman of the Risk Committee of the company.
“I know that I join Edmund, my fellow board members, and our senior leadership team in expressing our deep gratitude to Swee-Lian for her leadership and significant contributions to AIA over the last eight years. She has been a highly valued advisor to our executive team and played an instrumental role supporting our Board, including as Chairman of the Risk Committee and as a Board Representative on the ESG Committee,” remarked Lee Yuan Siong, AIA Group Executive Director and Group Chief Executive.
Prior to joining AIA, Mari Elka Pangestu served as the World Bank’s Managing Director of Development Policy and Partnerships. She currently serves as a professor of International Economics at the University of Indonesia (UI), adjunct senior research scholar at Columbia University and a professor of Prasetiya Mulya University.
Meanwhile, Ong Chong Tee is the Chairman of the Accounting and Corporate Regulatory Authority in Singapore. He has 35 years of experience with the Monetary Authority of Singapore (MAS), in the areas of reserve management, monetary policy, investment management, financial development and financial supervision.
