AIA Life Korea has appointed Leo Ng as Chief Executive Officer designate, with the executive set to assume the role after required approvals are completed, the insurer announced on 28 September.
Ng joins the Korean operations from AIA China, where he has served as Chief Financial Officer since 2016. He brings more than 30 years of experience in the life insurance industry, including 12 years with AIA.
During his career, Ng has held senior leadership roles across Asia, including roles across Manulife’s Malaysia and Singapore units. He has experience in business growth initiatives, transformation programmes and managing operations in complex market environments.
He holds a Bachelor of Mathematics degree with double honours in actuarial science and statistics from the University of Waterloo and is a Fellow of the Society of Actuaries.
Fisher Zhang, regional CEO and chairman of the board of AIA Life Korea, said Ng’s experience in strategy, transformation and financial leadership, together with his understanding of AIA’s business and culture, positioned him well to lead the insurer.
“Korea is an important market for AIA,” Zhang said, adding that he expects Ng to work closely with the insurer’s leadership team, employees and distribution partners to build long-term value for customers.
Ng said his immediate priority would be to spend time with employees, customers and distribution partners to deepen his understanding of the Korean market and its growth opportunities.
AIA Life Korea has operated in South Korea since 1987 and reported total assets of approximately KRW19.4trn (US$14.2bn) and a K-ICS solvency ratio of 176.4% as of 30 June 2026.
In August, the life insurer raised its earnings outlook after posting double-digit gains across key metrics in the first half of 2026. The group’s value of new business rose 10% to a record US$3.21bn, while operating profit after tax per share was up 13%.
