China Taiping Insurance Singapore today announced the appointment of Mr. Lance Tay as General Manager for its life insurance business. Mr. Tay is responsible for the overall establishment and development of the life insurance business of China Taiping Insurance Singapore. The company's life insurance business is expected to be fully operational by January 2019.
Lance has extensive experience spanning over three decades in the insurance sector across a number of markets. He has held various senior roles in Singapore and the region. Lance was previously the Chief Executive Officer of Tokio Marine Life Insurance where under his leadership, the company grew rapidly to become a tier 1 significant insurer with total assets exceeding S$5 billion.
Commenting on the appointment, Mr. Yang Yamei, General Manager, China Taiping Insurance Singapore said: “It is an honor to have Lance lead our life insurance business. Lance has a proven track record of outperforming targets throughout his successful career. With his wealth of experience, Lance can help us achieve our goal of providing one-stop comprehensive financial solutions for personal and business needs. This appointment underscores the significance of our business and our commitment to Singapore.”
China Taiping Insurance Singapore celebrates its 80th anniversary in Singapore this year. The company received its licence to carry on life insurance business in Singapore as a composite insurerfrom the Monetary Authority of Singapore on 27 August 2018.