AIG Singapore appoints third independent director

SINGAPORE, 29 March, 2016 – AIG Asia Pacific Insurance Pte. Ltd. (“AIG Singapore”) today announced the appointment of Mr Michael Bishop as the third independent director to its board of directors. Mr Bishop’s appointment follows that of Mr Shirish Apte and Ms Isabella Loh, who were both appointed as independent directors of AIG Singapore in October 2015. He has been appointed for a three-year term, effective from 16 March 2016.

The three independent directors will bring an outside perspective to AIG Singapore’s board of directors and help to steer the company’s corporate strategy. Furthermore, their independence will strengthen the company’s corporate governance practice.

Mr Bishop was the Chief Executive Officer of AXA Asia Pacific from 2008 to 2015, where he was responsible for both its life and non-life businesses in Asia. Prior to that, he held various roles at Prudential Corporation Asia Limited from 1998, including that of Managing Director of Prudential’s operations in Korea, Hong Kong, Japan and Taiwan. His biography can be found in the Annex below.

Mr Matt Harris, Chief Executive of AIG Singapore, said: “We warmly welcome Michael to our board. His depth and breadth of experience in the insurance industry will certainly lend an advantage as we look to further enhance customer centricity, and advance our vision of being our customers’ and partners’ most valued insurer.”

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Annex: Michael Bishop’s biography

Michael Bishop is a veteran in the life and non-life insurance industry. He began his career in1980 in Lloyds Bank, and over his 18-year career with Lloyds TSB and Lloyds Bank, he worked in various segments of its business including bancassurance, managing branch operations as well as sales and customer service. He spent the next decade in Prudential Corporation Asia Limited, first handling alternative distribution, and thereafter leading Prudential Corporation Asia Life Insurance Co. Limited in Korea as its President and Chief Executive Officer (CEO) from 2001 to 2005. In 2005, Michael was appointed Managing Director, overseeing Prudential’s businesses in Korea, Hong Kong, Japan and Taiwan. He left Prudential in 2008 to join AXA Asia Pacific as the CEO of its life business in Asia, and in 2011, he took on the additional portfolio of AXA’s non-life business in Asia. Michael first became an Associate of the Chartered Institute of Bankers in 1984, before becoming a Fellow of the Chartered Institute of Bankers in Scotland in 1995. He graduated from the Southend College of Technology with an Ordinary National Diploma in Business Studies.