Income Insurance has appointed Lim Sim Seng as chairman of its board of directors, effective 1 July, the Singapore-based insurer announced on Wednesday.
Lim has been with the insurer’s board as an independent non-executive director since 1 May. He will succeed Joy Tan, who has served as chairperson since 2025.
He brings more than four decades of leadership experience in the financial services sector, having held senior roles across Asia, North America and the Middle East. He was most recently a group executive at DBS, leading the bank’s consumer banking and private banking operations.
Lim also serves as deputy chairman of SIA Engineering Company and holds board positions at IOI Properties Group and Trust Capital Group. He also serves as Singapore’s non-resident high commissioner to Nigeria.
Following the change in chairmanship, Tan will remain on the board as a non-independent, non-executive director. She will continue to serve on the board executive committee, audit committee, and nominating, human capital, and remuneration committee.
