Former HSBC Holdings global insurance head Edward Moncreiffe will join rival AIA Group as regional CEO from November 2, following a path taken by former HSBC Group chairman Mark Tucker, who returned to the Asia-Pacific region’s largest insurer as non-executive chairman last year.
Moncreiffe will oversee AIA’s businesses in India, Sri Lanka, Australia and New Zealand, while serving on the group’s executive committee, according to a company statement issued on Friday. He will report to group CEO and president Lee Yuan Siong.
After 20 years at HSBC, Moncreiffe resigned as global insurance CEO in August. During his tenure, the lender’s insurance business became Hong Kong’s market leader in new life insurance premiums for four consecutive years and sold a record-breaking US$250 million life insurance policy in February 2024.
He is the second high-profile executive to move from HSBC to AIA. Tucker became AIA’s non-executive chairman in October last year after serving as the insurer’s group CEO and president between 2010 and 2017.