AIA adds two new non-executive directors, Swee-Lian Teo resigns as chairman

Mari Elka Pangestu, Ong Chong Tee, and Chow Chung-Kong are to take on new roles.

The Hong Kong-based insurer announced the appointment of Mari Elka Pangestu and Ong Chong Tee as Independent Non-executive Directors (INED).

They are also part of the Nomination Committee of AIA.

Pangestu, aged 66, recently concluded her position as the Managing Director of Development Policy and Partnerships at the World Bank. 

She currently holds multiple roles, including being a Professor of International Economics at the University of Indonesia, an adjunct senior research scholar at Columbia University, and a Professor at the University of Prasetiya Mulya.

Ong, 61, serves as the Chairman of the Accounting and Corporate Regulatory Authority in Singapore. 

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He brings with him 35 years of experience working with the Monetary Authority of Singapore (MAS), specialising in areas such as reserve management, monetary policy, investment management, financial development, and financial supervision.

Swee-Lian Teo, an Independent Non-Executive Director (INED) of AIA, is set to retire effective 1 September. 

Alongside her retirement, she will no longer hold the position of Chairman of the Risk Committee and member of the Nomination Committee. 

In her place, Chow Chung-Kong, an AIA INED, has been appointed as the new Chairman of the Risk Committee, starting from 1 September.