ING Life Plc has appointed Mike Plaxton, a former chief executive of Krungthai-AXA Life Insurance Plc, the French-Thai joint venture, as its new chief executive, effective last Wednesday.
Plaxton: This region is ripe for life insurance.
Mr Plaxton has 40 years of experience in the insurance industry including the last 18 years in Asia. He started his insurance career in Europe and moved to Asia in 1995.
Prior to this position, he was the managing director and chief executive of Krungthai-AXA Life from 2007-12.
From 2004-07, he was the chief operating officer at Philippines AXA Life Insurance Corporation.
Before joining AXA, he was the president and chief executive of John Hancock Life Insurance Corporation Philippines and held senior roles in various multinational life insurance firms in Europe and Asia.
"With the improving prosperity of the population, we see huge growth opportunities in life insurance in this region," said Mr Plaxton.
The Pacific Century Group in February completed its acquisition of the ING Group's Hong Kong, Macau and Thailand insurance businesses.