Sun Life Malaysia and Avicennia Capital simultaneously name CEOs

Insurance firm’s CEO to helm one of its investors, while deputy CEO takes over the vacated spot

Sun Life Malaysia and Avicennia Capital simultaneously name CEOs

Insurance News

By Gabriel Olano

Sun Life Malaysia and Avicennia Capital Sdn Bhd have appointed chief executive officers at their respective companies. Ooi Say Teng takes over as Avicennia’s CEO, while Raymond Lew Yung Chow will serve as Sun Life Malaysia’s president and CEO.

Ooi was previously CEO of Sun Life Malaysia, while Lew, former deputy CEO of Sun Life, takes over his vacated post. Both appointments became effective on May 01.

Avicennia Capital is a strategic investor in both Sun Life Malaysia and Sun Life Malaysia Takaful, owning a 49% stake in both companies since April 2013. Avicennia invests in insurance companies that are reaching, or have reached, critical mass and show sustainable growth trajectories with potential investment returns.

A veteran of over 30 years in the insurance industry, Ooi has held senior management roles in firms, both domestic and international. A UK-educated professional, he is an expert in actuarial, operations, reinsurance, bancassurance, corporate marketing, information technology, and process improvement. He was vice president of the Life Insurance Association of Malaysia in 2009 and was member of the boards of Tune Insurance Malaysia Berhad, Labuan Reinsurance Ltd, and was the deputy chairman for Malaysia Life Reinsurance Berhad.

Meanwhile, Lew joined Sun Life Malaysia in 2013 as chief distribution officer. In 2016, his role was expanded to include marketing duties and spearheading the company’s digital business transformation strategy. Within the same year, he was promoted to deputy CEO.

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