Tokio Marine Life Insurance Singapore Ltd (TMLS) has announced changes to its leadership structure with two executive appointments aimed at supporting the insurer’s operational goals and future expansion.
Joanne Yeo (pictured above) has been named chief financial officer of TMLS.
Meanwhile, Koh Wei Lee (pictured immediately below) takes over as chief executive officer of Tokio Marine Financial Advisers Singapore Pte Ltd (TMFAS).
Yeo brings more than two decades of experience across finance, actuarial operations, and strategic business management. Her previous roles include deputy chief executive at Pacific Life Re International and senior leadership positions at AIA Singapore, where she oversaw actuarial and product development functions.
Commenting on Yeo’s appointment, TMLS CEO Alistair Chamberlain said the company is aligning its financial management approach with its long-term objectives.
“Joanne joins us at a pivotal time as we strengthen our financial resilience to position the company for long-term success,” he said. “Her leadership will sharpen our financial strategy, support sound decision-making, and enable us to deliver greater value to our stakeholders.”
At TMFAS, Koh Wei Lee assumes the CEO role, bringing with him a background in leading financial advisory operations. His most recent post was CEO at Singlife Financial Advisers.
He is expected to strengthen TMFAS’s market presence and adapt its distribution model in response to changing customer behaviours.
Chamberlain described Koh’s appointment as part of the company's broader vision.
“With evolving client needs and industry transformation, Wei Lee’s appointment signals our ambition to elevate TMFAS to the next level,” he said.
The appointments come amid a growth phase in Singapore’s life insurance sector. Industry figures from the Life Insurance Association, Singapore (LIA Singapore) showed total weighted new business premiums grew 10.9% year-on-year in Q1 2025, reaching S$1.48 billion.
Annual premium policies drove most of the growth, with a 36.7% increase from Q1 2024 to S$1.14 billion. In contrast, single premium products declined by 32.2% year-on-year, although they showed a quarter-on-quarter improvement.
Investment-linked policies (ILPs), combining insurance with investment elements, saw strong growth at S\$665 million – a 60.6% rise from the previous year.
These products accounted for the largest share of new business premiums at 45%, followed by non-participating (33%) and participating plans (22%).
The financial adviser channel delivered the highest share of total sum assured in the quarter at 43.3%, followed by tied representatives at 32.4%.
Bank-affiliated distributors led in premium volume, while online and direct sales contributed minimally at just over 3%.
Life insurers paid out S$2.77 billion in total claims during the first quarter, a 44.7% decrease from the same period in 2024. Of this, S$2.21 billion related to policy maturities, and S$559 million went toward claims involving death, disability, or critical illness.
