Committee says there was a "collective failure" by insurers to meet policyholder obligations and has proposed 86 recommendations to improve fairness and consumer protection in the industry.
Yap brings extensive experience to SRG's APAC growth plans, including as CEO of Marsh Singapore in his last role and eight years as CEO of JLT Singapore before that.
With six of the ten largest life insurers globally, Asia offers reinsurers the chance to strike new asset intensive reinsurance deals before the pipeline in mature markets starts to dry-up.
John Lee also used his annual policy address to announce plans to conduct a sector wide insurance review that would look at capital requirements for infrastructure investments.
