High net worth life insurer Transamerica Life (Bermuda) has appointed Jeremy Young as its global Head of Sales & Distribution.
The insurer also announced that Benjamin Chua, Head of Finance for its Singapore Branch Office, will assume the additional role of Chief Executive for Transamerica in Singapore after receiving regulatory approval from the Monetary Authority of Singapore (MAS).
Young will be responsible for enhancing and executing the company’s sales strategy while leading the distribution teams to drive profitable sales and accelerate business growth across Hong Kong, Singapore and Bermuda.
Young has over 25 years of experience in the life insurance industry, previously working for Sun Life Financial where he served in various senior management roles over an 11-year period. He will report to Transamerica’s President, Hazel Etherington.
Etherington commented: “We’re delighted to have Jeremy join the Transamerica family. Jeremy’s appointment to this critical position is further testimony of our commitment towards growth as a leading High Net Worth (HNW) life insurance provider of choice for business partners and customers in our key markets.
“Jeremy will build upon Transamerica’s strong business partner servicing capabilities and work closely with our distribution partners, helping them to better serve HNW customers who are looking to achieve financial security and protection during these uncertain times.”
In his new position, Chua will oversee the execution of Transamerica’s corporate strategy to drive growth for its business in Singapore.
Chua will continue in his role as Head of Finance where he remains responsible for the overall capital management and financial reporting and management activities of the Singapore business.
He will report directly to Transamerica’s Chief Executive Officer, Chirag Rathod.
Rathod added: “I’m very pleased to appoint Benjamin Chua as Chief Executive for our Singapore business. Singapore is an extremely important market for Transamerica and Benjamin is a strong leader within the organisation and is widely respected by his peers.
“He has a deep knowledge of the market and our business operations in Singapore. His solid track record of delivery will prove invaluable in leading and driving sustainable business growth in the country.”