Insurer NTUC Income has appointed Ken Ng, currently its senior vice-president and general manager of distribution, as its chief executive officer.
Mr Ng will take over from outgoing NTUC Income CEO Tan Suee Chieh from Oct 1, 2013. It was previously announced that Mr Tan will leave NTUC Income to take on the role of group CEO of NTUC Enterprise - which is chaired by Lim Boon Heng and was set up last year to oversee all 12 of NTUC's social enterprises.
The 44-year-old Mr Ng joined NTUC Income in 2007 as its senior vice-president, chief actuary and chief risk officer. He later took on the job of general manager of life insurance while leading the firm's strategy development.
Ng Kee Choe, chairman of NTUC Income, said of the new appointment: "The board was unanimous in its selection of Ken after conducting an extensive search both internally and externally. Ken is a highly respected member of the management team, recognised by colleagues and industry peers alike for his deep strategic thinking and problem solving abilities.
"Ken understands the organisation's core values and has played an integral role in shaping NTUC Income's transformation."
Since 2007, NTUC Income has been striving to become Singapore's most ethical insurer by selling "honest insurance".
Under Mr Tan's lead, it has been trying to achieve this by focusing on four areas: fair dealing, transparency, writing contracts in plain English and honouring the intention of contracts, instead of relying on technicalities to refuse payment.
Said Mr Ken Ng of his new appointment: "I am greatly privileged to have been appointed to lead NTUC Income. Today, NTUC Income is in the right space. We operate as a modern, professional organisation while striving to serve out our social purpose to make insurance accessible and affordable to all.
"We have an exciting future ahead as we keep pace with the needs and aspirations of our customers. Together, as a team, we will embrace new challenges and opportunities as we continue our journey towards excellence, for the benefit of our customers, employees and other stakeholders."