Income Insurance has appointed former Manulife Asia executive Dr Khoo Kah Siang as chief executive officer, effective 23 January 2027, succeeding Andrew Yeo, who will step down at the end of this year, the insurer said on Friday.
Khoo’s appointment is subject to regulatory approval from the Monetary Authority of Singapore (MAS).
Khoo most recently served as CEO, emerging markets, at Manulife Asia, where he oversaw businesses in Indonesia, the Philippines, Malaysia, Cambodia and Myanmar.
He has more than 30 years of financial services experience across actuarial, regulatory, finance and P&L roles. His career includes senior positions at Great Eastern, Manulife and MAS, following an early career in actuarial consulting.
Income Insurance Chairman Lim Sim Seng said Khoo’s sector experience and track record of leading businesses through change would support the insurer’s next phase of growth.
The outgoing CEO, Yeo, joined Income Insurance in 2015 and became chief executive in 2019. He announced his resignation in August to pursue other opportunities. At the board’s request, he will remain in the role until 31 December 2026.
The leadership change comes as Income Insurance reshapes its business. In July, the insurer appointed Seng as the chairman, succeeding Joy Tan, who had served as chairperson since 2025.
Separately, in June, the insurer agreed to sell its 100% stake in digital insurance platform Hive to Embed Financial Group Holdings (EFGH). The sale was, however, terminated after the buyer was sued over alleged non-payment of mandatory Central Provident Fund contributions.
