Etiqa Insurance Singapore has appointed Claudia Soh (pictured) as chief executive officer, effective August 14, as the insurer pursues a dual-channel distribution strategy combining deeper integration with parent Maybank and expanded access through external advisory networks.
Soh spent the past six months as acting CEO while continuing as chief financial officer, a transition period that effectively tested her operational readiness before her permanent appointment. She has more than 20 years of experience across financial services and insurance covering finance, strategic planning, risk management, mergers and acquisitions, investor relations and auditing, including a period at the Monetary Authority of Singapore and senior positions in the insurance sector. At Etiqa, she has advocated expanding the finance function's role beyond traditional reporting into broader business planning.
Mohd Kamaludin, group CEO of Etiqa Insurance and Takaful, said Soh had demonstrated strong leadership, strategic clarity, operational excellence and resilience during her acting period. "Her ability to drive innovation, build strong teams and adapt to changing customer needs will continue to strengthen our market position in Singapore to deliver long-term value for our customers, employees and stakeholders," Kamaludin said.
The appointment arrives as Etiqa navigates two significant commercial developments simultaneously.
Financial adviser representatives accounted for 35.7% of weighted new business premiums across 2025, making the channel Singapore's largest for a second consecutive year, according to LIA Singapore's full-year 2025 data. Etiqa has already been expanding its presence in that market. In March, Etiqa and AIA Singapore entered a distribution partnership that allows Etiqa's family Takaful products to be distributed through AIA Singapore and AIA Financial Advisers, giving the insurer access to a tied advisory network of more than 6,300 representatives.
Other insurers are moving in the same direction. FWD Singapore signed a long-term distribution agreement with Ascend Asia Financial Services Group in July, extending its reach through a network of more than 2,000 financial consultants - a sign that competition for FA channel access is intensifying across the market.
At the same time, Etiqa is set to become more closely aligned with Maybank. Earlier this month, Maybank agreed to acquire Ageas's remaining 30.95% stake in Maybank Ageas Holdings, which owns Etiqa's businesses in Malaysia and Singapore. The transaction would give Maybank sole ownership of Etiqa once completed, deepening access to Maybank's customer base as a primary distribution route.
The combination leaves Etiqa pursuing two routes to market that carry different strategic logics: the Maybank channel rewards deep integration and cross-selling within an existing banking relationship, while the FA and external adviser channel rewards competitive product positioning and open distribution. Managing both simultaneously - and deciding how to allocate product development, pricing, and service resources between them - is one of the core commercial questions Soh now owns.
Etiqa said it would work more closely with Maybank on integrated financial and protection products while continuing to collaborate with other partners in Singapore.
