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March 05, 2024

AIA Philippines announces new CEO

AIA Philippines has named Melita Teo, former chief customer and digital officer at AIA Singapore, as its incoming CEO, succeeding the retiring Kelvin Ang, effective January 1, pending regulatory approvals.

Ang will continue as an advisor to the CEO until February 29.

With diverse experience in strategy, planning, business development, corporate solutions, and operations since joining AIA in 2001, Melita Teo expressed excitement about joining AIA Philippines during a transformative period, emphasizing the company’s 76-year legacy and the recent acquisition of health maintenance organization MediCard Philippines, Inc., a strategic move not disclosed in value.

Kelvin Ang, departing after 26 years with leadership roles across AIA in various countries, reflected on his time at AIA Philippines, navigating challenges during the worldwide pandemic and steering the company to bring increased focus on the importance of protection.

Despite posting a net loss of P1.11 billion in the first quarter, AIA Philippines remains positioned for growth with a premium income of P3.88 billion, according to Insurance Commission data.