Another CEO among the alumni. In the papers, it is still considered a “rumour.” But we are already preparing for the most expensive “teh tarik” we can find on him.
Congratulations, Ah Ming. Go ahead, make the school proud.
Yes, I change the photo here, just so he becomes more famous. 😀
Thursday February 28, 2008
Allianz Malaysia to make key management changes
By DALJIT DHESI
PETALING JAYA: Allianz Malaysia Bhd (AMB), which has ambitious expansion plans, is set to see some changes in the group’s key senior management soon.
According to industry sources, AMB chief executive officer Alexander Ankel is tipped to be the CEO of Allianz Life Insurance Malaysia Bhd (Alim) pending approval from the regulatory authorities.
Ankel, who has more than 16 years’ experience in the insurance industry in Europe and Asia, will continue to helm AMB as its chief executive.
Alexander Ankel &
Ng Hang Ming
He filled the position that was left vacant for more than a month by Chris James, who assumed the position of CEO of Allianz Taiwan Life effective Jan 1.
AMB chief financial officer Ng Hang Ming will take over from Ankel as CEO of Allianz General Insurance Co (M) Bhd (AGIC) and Commerce Assurance Bhd (CAB).
AMB officials when contacted by StarBiz declined to comment on the proposed management changes.
With the completion of the acquisition of CAB on Aug 28 last year as part the group’s restructuring exercise, AMB now has three subsidiaries – the other two being Alim and AGIC.
As of December last year, AMB was the country’s second largest general insurer with about 10% market share. It currently has 56 branches – 34 for Allianz and 22 for CAB.
The ongoing integration of AGIC and CAB is expected to drive strong synergies between the group’s life and non-life operations and put AMB on a stronger footing in the insurance business in Malaysia.
Ankel recently said that with a total agency force of about 8,000, AMB would also continue to grow its broking and bancassurance portfolios moving forward.