Aviva appoints Khor Hock Seng as CEO Aviva Asia

29-1-2013 — /europawire.eu/ — Aviva plc (“Aviva”) announces the appointment of Khor Hock Seng as CEO of Aviva Asia. Mr Khor, who will be based in Singapore, will take up his new role on 8 March and will join the Group Executive, reporting to Mark Wilson, Aviva CEO. Simon Machell, who has undertaken a wide range of roles with Aviva in the UK and internationally, most recently as CEO for Higher Growth Markets, will leave Aviva at the end of February.

Khor Hock Seng joins Aviva from AIA where his previous roles included Chief Executive and Managing Director of the company’s Malaysian business and Regional Executive responsible for a number of AIA’s South East Asian markets. From 2008 he successfully drove the transformation of AIA Malaysia leading the business to capitalize on development opportunities, generating strong growth in value and cashflow, despite the difficult economic environment.

Mark Wilson, Chief Executive Officer of Aviva plc, said: “I am delighted that Khor is joining Aviva. He brings a wealth of insurance experience in Asia and the requisite market and cultural knowledge that are critical to success in the region. His appointment is a re-affirmation of Aviva’s commitment to our strategic markets in Asia, where we have the potential to deliver strong cash flows and consistent returns.

“I would also like to take this opportunity to thank Simon Machell for his significant contribution to Aviva and wish him well for the future.”

Commenting on his appointment as CEO of Aviva Asia, Khor Hock Seng said: “I am excited to be joining a group with the pedigree of Aviva. There is significant opportunity for the business in Asia and I am very much looking forward to working with our teams and partners to realise that potential.”

This appointment is subject to regulatory approval.

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Notes to editors:

Khor Hock Seng’s biography

• Khor Hock Seng joined AIA in 2006 as Senior Vice President and Deputy General Manager. He was appointed CEO and MD, American International Assurance Bhd. in September 2008
• Before joining AIA, Khor was President & CEO of Manulife Insurance (Malaysia) Bhd. Khor began his career in 1982 as an Actuarial Assistant at Malaysian American Assurance Bhd. He also worked for British American Life and General Insurance Bhd., Hong Leong Assurance Bhd. and John Hancock Insurance (Malaysia) Bhd where he was appointed President & CEO in 2001.

• Aviva provides 43 million customers with insurance, savings and investment products.
• We are the UK’s largest insurer and one of Europe’s leading providers of life and general insurance.
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• Aviva operates in eight markets in Asia (India, China, Singapore, Hong Kong, South Korea, Taiwan, Indonesia and Vietnam).
• Aviva ranks among the top three foreign life insurers through 50% joint venture with COFCO Ltd. in China.
• In Indonesia, Aviva owns a 60% stake in PT Asuransi Aviva Indonesia, a top three  health insurance provider in Indonesia. Indonesia is one of the fastest growing life insurance markets in Asia.
• Aviva operates in partnership with the Dabur Group in India, with a wide distribution network of 135 branches spreading across nearly 1,000 towns and cities.
• Aviva is a top five life insurer in Singapore and one of the biggest providers of employee benefits and healthcare insurance. Aviva has a strong relationship with DBS Bank in Singapore and Hong Kong.
• In South Korea, Aviva owns a 47% stake in Woori Aviva Life Insurance Co, Ltd through a partnership formed with state-owned Woori Finance Holdings Company Ltd, South Korea’s third-largest financial company.
• In Vietnam, Aviva operates as Vietinbank Aviva Life Insurance Ltd Co, a joint venture between Vietnam Commercial Joint Stock Bank of Industry and Trade.