Global reinsurer Munich Re has announced the appointment of Serena Thio as Chief Executive Officer (CEO) of Munich Re Malaysia, effective January 6th, 2020.
In her new role, Thio will report to Tobias Frenz, Munich Re’s Managing Director of Life & Health for Southeast Asia, and will be tasked with leading the reinsurer’s Global Family (Life & Health) Retakaful business.
She brings more than 28 years of insurance and reinsurance industry experience to the role, most recently serving as Head of Life Technical & Customer Care at Zurich Insurance Malaysia Bhd. In this role, she was responsible for the management of the overall technical and operational functions, as well as having oversight on certain Zurich Takaful Malaysia Bhd activities.
Frenz commented: “Malaysia is an important market for Munich Re and we are committed to serving clients from here. With Serena joining the team, we are well placed to serve our Family Takaful clients, as she brings on board a wealth of experience and capabilities.”
Commenting on Munich Re’s retakaful business in the region, Frenz added: “Munich Re can address the specific needs of family takaful operators by leveraging on its worldwide group expertise in providing solutions that are in line with the rules set by Shariah scholars. This fosters strong partnerships and benefits the development of the global takaful industry. This capability allows us to help takaful operators differentiate themselves from conventional counterparts and adopt discretionary models that respond to customers’ needs.
“We have also seen significant advancements by our conventional life insurance clients in the areas of underwriting & claims automation, data analytics and product innovation that have yet to be fully embraced by takaful operators. Serena will assist our takaful clients to close this gap.”
