Life Insurance

AIA chief executive succeeds Swiss Re CEO as chairman of The Geneva Association

AIA chief executive succeeds Swiss Re CEO as chairman of The Geneva Association | Insurance Business America

Swiss Re CEO exits the role


Kenneth Araullo

The Geneva Association has announced that Lee Yuan Siong (pictured above), group chief executive and president of AIA, was appointed chairman of the organization, succeeding outgoing chairman Christian Mumenthaler, CEO of Swiss Re. Lee has been vice chairman of The Geneva Association since November 2021.

Three members were also elected to the Association’s board of directors at the 2024 general assembly: Satoru Komiya, CEO of Tokio Marine; Pauline Leclerc-Glorieux, CEO of BNP Paribas Cardif; and Bianca Tetteroo, CEO and chair of the executive board of Achmea.

Lee called the appointment an honor and highlighted the increasingly complex risks being faced by industry across the world.

“Over the last 50 years, the Association has established a much-needed global platform, bringing knowledge, debate and recommendations to address the most pressing societal challenges,” Lee said. “The Geneva Association’s belief in ‘Insurance for A Better World’ has never been more relevant than it is today. I look forward to working with the board and our members to drive greater impact and understanding of the insurance industry’s role in helping to create a more resilient future.”

Jad Ariss, managing director of The Geneva Association, also praised Lee’s predecessor, noting that working with Mumenthaler was a privilege.

“He took over as Chairman at a difficult time, with the pandemic still in full swing, and he navigated The Geneva Association through a geopolitical and geo-economic sea change with wars, higher inflation and supply-chain bottlenecks. His focus on impact has led us to significantly increase our reach and global profile,” Ariss said.

Ariss expressed his enthusiasm for Lee Yuan Siong’s appointment, noting that he is the first Geneva Association Chairman to be based in Asia in the organization’s 50-year history.

“I also warmly welcome new board members Satoru Komiya, Pauline Leclerc-Glorieux and Bianca Tetteroo. With the rest of the board, we will ensure The Geneva Association continues to address the most relevant issues for the industry and demonstrate the role insurance plays in making the world a safer and better place,” Ariss said.

The Geneva Association’s spring 2024 board meeting preceded the annual three-day General Assembly, which gathered 55 global insurance CEOs under the theme of “Unlocking Promise in Times of Uncertainty.” The event was hosted by Geneva Association members Tsuyoshi Nagano, chairman of Tokio Marine, and Hiroshi Shimizu, president & CEO of Nippon Life, in Kyoto, Japan.

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