PETALING JAYA: Manulife Insurance Bhd is looking for a new president and chief executive officer following the departure of Peter Robertson, the company’s former chief executive.
Robertson, 44, and an actuary by profession, vacated his positions as CEO and president on Nov 11 and is believed to be joining a financial services company in Britain, a source told StarBiz.
No candidate has been shortlisted and the search for Manulife Insurance’s new CEO is being intensified, according to the source.
Robertson was appointed president and CEO of Manulife Insurance in April 2006.
He graduated with a bachelor of science degree in mathematics from Kings College, University of London, in 1986, and later qualified as a Fellow of the Faculty of Actuaries in 1990.
Manulife Financial Corp, which has a 46% stake in Manulife Insurance, is the sixth largest life insurer in the world in terms of market capitalisation.
Manulife Insurance’s new business premiums last year stood at RM71.3mil against RM50.2mil in 2006. The insurer’s sales force as at September this year was 1,438 people.
The company’s net profit in 2007 was RM85mil compared with RM50.7mil previously. For the first quarter ended March 31, 2008 its net profit fell 9% to RM16.85mil.
Source : here
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