Allianz has hired a new CEO for its Life & Health business in Asia, who will be responsible for its P&L and functional development in the region.
German insurance heavyweight Allianz has appointed Anusha Thavarajah as its new Chief Executive Officer, Life & Health for Asia Pacific, effective in the fourth quarter of 2019, the firm announced on Thursday.
Based in Singapore, Thavarajah has been tasked to advance the segment’s strong growth to meet the Allianz's long-term strategic priorities in the region. She reports to Allianz Asia Pacific regional CEO Solmaz Altin and will serve as a member of the Allianz Asia Pacific Regional Executive Board.
Long Experience
Thavarajah joins Allianz from AIA Berhad in Malaysia, where she led the firm as CEO. She brings close to 30 years’ experience in the financial services industry having served in various senior leadership roles in finance, actuarial, product, and business & operations.
«Anusha Thavarajah’s significant experience in insurance and management, plus a strong track record for driving innovation and delivering on customer-focused business strategies, will be a vital resource for the business in pursuit of our growth ambitions across the region,» Altin said about the appointment.
Strong Performance in Asia
According to its year-end results, Allianz's total operating profit for the region in 2018 reached €354 million (S$542.5 million), an increase of 30 percent, while total revenues grew 12 percent to reach €6.7 billion (S$10.3 billion).
The insurer’s life and health business performed well across all key metrics, with operating profit increasing by 43 percent to €275 million (S$421.4 million) on the back of strong sales from Taiwan, China, Malaysia, and the Philippines.
