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AIA appoints nominees to NDB Aviva board

10 December 2012 07:26 am - 0     - {{hitsCtrl.values.hits}}


Subsequent to the completion of the acquisition of Aviva NDB Insurance PLC last week, AIA Group announced five appointments to the firm’s director board amidst the resignation of directors representing Aviva and National Development Bank (NDB), a stock exchange filing by the company said.

Consequently, Regional Chief Executive of AIA Group Ltd, Huynh Thanh Phong was appointed to the post of Chairman and Director of the board.

Additional directorship appointments to the board include AIA’s Business Development Director, Richard Bates, Group Senior Regional Counsel, Manoj Ramachandran, Appointed Actuary for TATA AIA Life Insurance, Heerak Basu and CEO and Managing Director, American International Assurance, Malaysia, Khor Hock Seng.

Managing Director Shah Rouf and NonExecutive Independent director Deepal Sooriyaarachchi will remain in Aviva NDB’s board which will be renamed as AIA in January 2013. Meanwhile, AIA is currently seeking mandatory approval from the Insurance Board of Sri Lanka (IBSL) in order to formalize the appointments.

Meanwhile, former Chairman of the board, T.R. Ramachandran, and former Director, Russel De Mel were amongst those who resigned from Aviva NDB board.

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