INDEPENDENT NEWS

AIA Names Nicholas Scarlett Chief Executive

Published: Thu 22 Sep 2005 10:49 AM
PRESS RELEASE
AIA Names Nicholas Scarlett Chief Executive
AUCKLAND, September 21, 2005 – American International Assurance Company (Bermuda) Limited (AIA), a wholly-owned subsidiary of American International Group, Inc. (AIG), has named Nicholas Scarlett as Chief Executive of its operations in New Zealand. Mr Scarlett will be based in Auckland and reports to Arthur Belfer, Executive Vice President – Life Operations, Asia Pacific region of AIG’s Life Division.
Mr Scarlett joined AIG four years ago, initially in a Hong Kong based regional strategic planning role and reported to the President of AIA. He then spent 2 years with an AIG subsidiary, Nan Shan Life, one of Taiwan’s largest life insurers. After relocating back to Hong Kong, he has more recently worked in a regional capacity as Vice President of Agency and Distribution, overseeing AIA’s life insurance markets in the Asia Pacific.
Mr Scarlett has a wealth of experience in the insurance industry, having commenced his career in the industry as an agent in the United Kingdom and then worked as a Hong Kong-based independent advisor to expatriates located throughout the Asia Pacific Region. Prior to joining AIG, Mr. Scarlett spent more than ten years with Eagle Star International (Zurich Financial Group). He was based in Hong Kong and he left Eagle Star as the General Manager for its Asia business, which distributed protection and investment products predominantly via brokers/advisors.
He also served on the advisory board of the Securities and Futures Commission, Hong Kong’s industry regulator.
“Nicholas’ appointment forms an important part to our overall corporate strategy of further expanding our business in New Zealand,” said Mr Belfer. “We have established a strong core team in AIA New Zealand over the years and we are committed to growing our presence in this marketplace. We have long-term vision, and we will seize the opportunity to strengthen our position as a leading market player in New Zealand. Nicholas is a great talent and his hands-on involvement in all aspects of the life insurance industry will provide solid backing to his new role.”
Mr Scarlett aims to maintain the good relationship AIA has built with independent advisers while expanding the business by developing multiple distribution channels. “AIA has focused on life protection of New Zealanders since setting up in the country in 1981,” said Mr Scarlett. “We are confident of the tremendous growth potential New Zealand has to offer and intend to form strategic alliances with more partners.”
AIA New Zealand is ranked second (by the ISI) in the adviser net new business market and has excellent products catered to the business insurance segment. In addition, AIA received, in 2004, the coveted 5-star ranking from WA Taylor & Associates (Int.) Pty Ltd, an independent rating company.
ENDS
American International Assurance Company, Limited (AIA) is Southeast Asia’s largest life insurer, with branch offices, subsidiaries and affiliated companies located in countries and jurisdictions including Australia, Brunei, China, Guam, Hong Kong, India, Indonesia, Japan, Macau, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. AIA markets a full line of life insurance products through a multi-channel distribution system, whose core franchise is an extensive agency force. AIA is a wholly-owned subsidiary of American International Group, Inc. (AIG), the world’s leading international insurance and financial services organization.

Next in Business, Science, and Tech

Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months
By: Barfoot and Thompson
Draft Report Says Regulatory System Favours Established Building Products
By: Commerce Commission
Annual Wage Inflation Rises To 3.4 Percent
By: Statistics New Zealand
APEC Region’s Growth To Slow Amid Uncertainties And Crises
By: APEC
FMA Survey Sheds Light On New Zealanders’ Experiences With Financial Sector And Concepts Of Fair Treatment
By: Financial Markets Authority
ASB’s Latest Trade Disruption Report: Low Export Demand And High Import Prices Look Set To Continue
By: ASB Bank
Unemployment Rate At 3.3 Percent
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media