Southeast Asia Disaster Risk Facility (SEADRIF) Insurance Company has appointed Ellen Yong as its Chief Operating and Financial Officer, based out of Singapore.
SEADRIF provides catastrophe risk insurance coverage to participating ASEAN countries and serves as an instrumental entity to the SEADRIF Initiative.
The company is licensed as a general insurance company by the Monetary Authority of Singapore (MAS), under the jurisdiction of Singapore.
The SEADRIF Initiative is a regional platform established with ASEAN+3 (Japan, China, the Republic of Korea) endorsement, supported by the World Bank, and provides knowledge, technical and financial solutions to help prepare for such situations.
The insurer is fully owned by SEADRIF member countries through Intertrust acting as Trustee of the SEADRIF Trust and regulated by the Monetary Authority of Singapore. It is governed by a Board of Directors comprising three professionals with decades of experience in the insurance industry.
Yong’s remit as the COO and CFO will include spearheading the development of internal infrastructure and systems crucial to supporting the insurer’s strategic objectives.
Her mandate includes upholding top standards in insurance management, financial and capital oversight, and governance encompassing risk, operations, regulatory compliance, and beyond.
According to the insurer, this appointment marks a pivotal role marks an instrumental phase in the growth trajectory of the company/
Yong has deep expertise in the re/insurance industry. She is a versatile actuary committed to addressing catastrophe risk financing, driven by her dedication to enhancing communities’ resilience in the face of climate shocks.
Yong also has a comprehensive background in pricing and portfolio analysis, reserving and capital modeling, underwriting policies, claims handling policies, finance, insurance, and regulatory reporting.
Prior to this, Yong served at Fidelis Insurance, Bermuda, where she was focused on understanding natural catastrophes and their relationship with climate change from a global perspective.
