AIA Hong Kong and Macau announced today the appointment of Peter Crewe as its new Chief Executive Officer (“CEO”), subject to regulatory approval.

Peter will take over from current CEO Jacky Chan, who has been promoted to Regional Chief Executive of AIA Group overseeing AIA's operations in Hong Kong and Macau, Singapore and Brunei, Indonesia, the Philippines and Cambodia. Jacky will also have oversight of Group Agency Distribution.

Both appointments are effective 1 June, 2017.

Peter will report directly to Jacky, who will in turn report to AIA Group Chief Executive and President Designate, Ng Keng Hooi.

Jacky said, “I am delighted to announce that Peter will be succeeding me as CEO of AIA Hong Kong and Macau. Peter's career with AIA spans more than 20 years and has seen him assume a range of senior management roles that leave him exceptionally well placed to lead our business in Hong Kong and Macau. His appointment exemplifies the depth of talent we have within AIA and our commitment to promote from within our Company.

I have full confidence that Peter will provide great leadership to AIA's operations in Hong Kong and Macau, the largest operation within the AIA Group, which delivered over US$1 billion in value of new business last year.”

Peter said, “I'm excited about the opportunity to build on the very impressive track record of delivery that Jacky and his team have built since the Group's IPO. I have lived and worked in Hong Kong for many years and it is an honour for me to be appointed CEO of AIA in Hong Kong, where our Company is headquartered. I am very confident about the outlook for our business here, as we help more and more customers to live longer, healthier, better lives.”

In his current role as CEO, AIA's Group Corporate Solutions (“GCS”), Peter led the adoption of a new target operating model, which enhanced engagement between GCS and Local Business Units which contributed to much stronger business growth.

Prior to his GCS role, Peter was the CEO for AIA Australia for three years. Under his leadership, AIA Australia was ranked Number One for group insurance in a very competitive market and also moved from Number Six position to become the Number One provider for retail life insurance. During his tenure, AIA Australia was the first of AIA's markets, alongside Singapore, to adopt AIA Vitality making it core to AIA's overall value proposition. Also during this time, AIA Australia was voted by its peers as the Best Life Company in 2013 and 2014.

Peter has a great deal of experience in Hong Kong, having worked in Hong Kong for a long period of time, including as CEO of AIA Pension and Trustee Co. Ltd. (“AIA MPF”) where he oversaw a period of significant growth with assets under management exceeding US$5 billion. As CEO of AIA MPF, he worked across multiple distribution lines with close collaboration with the AIA Hong Kong agency force on product and service initiatives, which resulted in excellent and enduring relationships with many of AIA Hong Kong's senior agency leaders.

Peter has held a number of other senior executive appointments during his career at AIA, including President Director of AIA Indonesia. In this role, he grew the agency force to 8,000 and led its early adoption of AIA's Premier Agency model. Peter also secured extensions to AIA's exclusive bancassurance agreements with Bank Central Asia and CIMB while improving AIA Indonesia's ranking for individual life new business sales from Number Six to Number Three.

AIA Hong Kong and AIA Macau are subsidiaries of AIA Group Limited. AIA Group Limited established its operations in Hong Kong in 1931 and expanded its footprint to Macau in the following year. To date, we have over 13,700 AIA financial planners¹, as well as an extensive network of brokerage and bancassurance partners. We serve more than 2.7 million customers², offering them a wide selection of professional services and products ranging from individual life, group life, accident, medical and health, mandatory provident fund, personal lines insurance to investment-linked products with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high net worth customers.

¹ as at 20 March 2017
² as at 31 January 2017

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and representative offices in Myanmar and Cambodia.

The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$185 billion as of 30 November 2016.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 30 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).