AIA Group Limited announced that its Group Chief Executive and President, Ng Keng Hooi, has informed the Board of Directors of the Company of his intention to retire from his executive positions with the Company and its subsidiaries (the "Group") effective 31 May 2020. The Board announced that Lee Yuan Siong has been appointed Group Chief Executive and President Designate with effect from 1 March 2020. He will succeed Mr. Ng as Group Chief Executive and President with effect from 1 June 2020.

Mr. Lee, aged 54, has more than 30 years of experience in the insurance sector. He was an executive director of Ping An Insurance (Group) Company of China Ltd. from June 2013 and served as the company's co-CEO and Chief Insurance Business Officer.