Global financial association appoints first Singaporean president

Global financial association appoints first Singaporean president | Insurance Business Asia

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Global financial association appoints first Singaporean president

Seasoned head outlines plans for organisation

Insurance News

By
Roxanne Libatique

The Million Dollar Round Table (MDRT), a globally recognised association for financial professionals, has appointed Carol Kheng, ChFC, as its 99th president.

Kheng (pictured), who works as a private wealth consultant for Prudential Assurance Company Singapore, is the first Singaporean to hold the role.

MDRT’s new president

A member of MDRT for 26 years, Kheng succeeds Gregory B Gagne, ChFC, a 25-year member, who has now assumed the role of immediate past president.

She said she intends to build on the foundation laid by previous leadership, with an emphasis on enhancing the member experience. She also plans to continue initiatives like in-person meetings, designed to foster business growth and networking opportunities.

“During my presidency, MDRT will continue to hold spaces for members to network, engage with one another, and learn unique, tailored techniques to propel their businesses further,” she said.

Since 2005, Kheng has been an active leader in Prudential’s MDRT Club and has held several key roles within the organisation, including serving on the board of trustees for the MDRT Foundation.

Insurers rank high in 2024 MDRT listings

In the 2024 MDRT rankings, leading insurers AIA Group Limited (AIA) and FWD Group Holdings Limited (FWD) secured top positions, demonstrating their commitment to excellence in life insurance and financial advisory services.

AIA Group Limited

AIA has maintained its position as the top multinational company in the MDRT rankings for the 10th straight year. The company also led in terms of the number of qualifying agents across multiple key markets, including Mainland China, Hong Kong SAR, Singapore, and Thailand.

Lee Yuan Siong, AIA’s group chief executive and president, noted the significance of this achievement, describing it as a reflection of the company’s high standards.

“Our world-class agents are central to maintaining trusted relationships with our customers, and they make a positive difference in the lives of the communities that we serve across Asia,” he said.

Jacky Chan, AIA’s regional chief executive and group chief distribution officer, echoed these sentiments, crediting the company’s agents for their professionalism and dedication in securing the global leadership position.

“We remain deeply committed to investing in our agency force by providing best-in-class training, tools, and support for their continued success,” he said.

FWD Group Holdings Limited

FWD placed sixth among multinational insurers for MDRT membership, maintaining this position for the third consecutive year.

The company reported 2,089 MDRT members as of July 1, 2024, with strong showings in Thailand, the Philippines, Vietnam, and Hong Kong SAR.

FWD’s group chief distribution and proposition officer, Lee Yen Ho, emphasised the value of the company’s investment in agent development and the digital tools provided to enhance customer engagement.

“We are incredibly proud of each and every one of our MDRT members on achieving this hard-earned career highlight,” she said.

MDRT, which sets a high standard for insurance professionals, requires members to demonstrate expertise, ethical behaviour, and strong client service.

Global financial association appoints first Singaporean president