Former HSBC Insurance CEO Edward Moncreiffe to Join AIA as Regional CEO

Edward Moncreiffe, who resigned as HSBC’s global insurance CEO in August after 20 years at the lender, will join AIA Group as regional CEO from November 2. He will oversee AIA’s businesses in India, Sri Lanka, Australia and New Zealand, while also serving on the group’s executive committee. Moncreiffe will report to AIA group CEO and president Lee Yuan Siong.

Role covers four markets

The appointment was outlined in a company statement issued on Friday. Moncreiffe’s regional brief will span four markets across South Asia and the Australia-New Zealand region. His move comes as insurers compete for affluent clients seeking wealth and succession solutions.

Moncreiffe’s appointment also follows the return of former HSBC Group chairman Mark Tucker to AIA, described in the source as the Asia-Pacific region’s largest insurer. 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. Moncreiffe is the second high-profile executive to move from HSBC to AIA.

HSBC insurance record

During Moncreiffe’s tenure, HSBC’s insurance business became Hong Kong’s market leader in new life insurance premiums for four consecutive years. The business also sold a record-breaking US$250 million life insurance policy in February 2024.

The move brings a former head of a major banking group’s global insurance operation into a senior regional position at AIA. It also places him alongside Tucker, who previously led AIA before returning to the group as non-executive chairman.

Source: South China Morning Post