Allianz Insurance Singapore has appointed chief operating officer Bi Ying Ong as chief executive, effective Thursday (1 October), the insurer said in a statement.
She succeeds Hicham Raissi, who was separately announced as Managing Director, Group Head of General and Group Insurance at Great Eastern, effective the same day.
Ong joined the company in December 2019 as head of its financial advisory channel. She went on to lead its bancassurance and financial adviser channels from 2022, before becoming chief operating officer in July 2023.
“With her deep understanding of the company and the Singapore market, I am confident Bi Ying is well positioned to lead Allianz Insurance Singapore into its next chapter,” said Anusha Thavarajah, regional chief executive of Allianz Asia Pacific.
Before joining Allianz, Ong headed the IFA and broker channel at Etiqa Insurance Singapore. Earlier, she spent more than a decade in business development roles at AXA and iFAST Corporation.
Speaking on his departure, Raissi said, “It has been a privilege to lead Allianz Insurance Singapore. I am proud of what we have built together and confident the company is in excellent hands with Bi Ying.”
The leadership change comes as the Allianz Group expands in Singapore. In July, it agreed to buy HSBC Life Singapore for S$2.7bn (US$2.1bn) and signed a 15-year exclusive bancassurance partnership with the bank. The deal needs regulatory approval and is expected to close in the first half of 2027. It follows the group’s 2024 bid for a majority stake in Income Insurance, which the government blocked that October.
