Insurance giant AIA welcomes new president

Pan-Asian life insurance giant AIA Group Ltd announced on Monday that Lee Yuan Siong has assumed the role of group chief executive and president.

Prior to joining AIA, he was an executive director with Ping An Insurance (Group) Co of China Ltd and served as the company's co-CEO and chief insurance business officer. 

Before Ping An, Lee held senior positions at Prudential plc in the UK. He began his career at the Monetary Authority of Singapore.

“AIA has achieved great success over 100 years of history and I look forward to working with my outstanding colleagues to ensure we lead the organization to its next phase of long-term, sustainable growth.” Lee said.

The life insurer’s shares soared 5.17 percent on Monday.