AIA Life Korea taps China CFO as new chief

AIA Life Korea has nominated Leo Ng, chief financial officer at AIA China, as its next chief executive officer, the Hong Kong-headquartered life insurer said Monday.

Ng Served as the CFO at AIA China from 2016. Including 12 years with AIA, he brings over 30 years of experience in the life insurance industry, having held several senior leadership roles across Asia, the insurer said.

Ng holds a Bachelor of Mathematics degree from the University of Waterloo in Canada, specializing in actuarial science and statistics, and is a fellow of the Society of Actuaries.

"My immediate priority will be to listen and learn by spending time with our people, customers and partners to develop a deeper understanding of the Korean market and the significant opportunities ahead," Ng said.

He also stressed his commitment to advancing AIA's mission of helping people "live healthier, longer, better lives."

Fisher Zhang, regional chief executive and chair of the board of AIA Life Korea, said he regarded Ng as a "highly experienced AIA leader with a strong track record across strategy, transformation and financial leadership," while highlighting that Korea is an important market for AIA.

The nomination comes after former CEO Nathan Chuang stepped down from his post in August, despite having a term that was set to run through July 2028.

At the time, the insurer said Chuang had decided to leave the company "to pursue other opportunities," without providing further details. Helena Chon, AIA Life Korea's chief financial officer, assumed the CEO role on an interim basis.