Christy Yeo (pictured left) has been appointed head of property, while Wendy Ong (pictured right) has been named head of financial lines.
Both will oversee market development, team leadership, and underwriting performance across their respective lines.
The appointments are part of Zurich Singapore’s ongoing strategy to enhance its local underwriting capabilities and respond to evolving commercial insurance demands.
Yeo and Ong will report directly to Alexandra Cowley, chief underwriting officer for Zurich Singapore.
Cowley said the leadership transition aligns with the insurer’s objectives in Singapore.
“I am very pleased to have Christy and Wendy step into these expanded leadership roles with their proven track records in their respective fields. Their deep technical knowledge and established market relationships will be instrumental in delivering leading solutions to our broker partners and customers as well as driving profitable growth through underwriting excellence across our business,” she said.
Yeo, who has over 20 years of industry experience and has been with Zurich for 12 years, most recently headed the company’s upstream energy portfolio in Singapore.
She will retain responsibility for upstream energy while expanding her role to include oversight of property underwriting.
Ong joined Zurich in 2018 and has managed directors and officers and financial institutions products. She previously helped shape the reinsurance approach for financial lines and will now lead the broader segment across the Singapore market.
The changes come as Singapore’s general insurance sector is expected to grow steadily over the next five years.
Market intelligence firm GlobalData projected that the market will expand from US$6 billion in gross written premiums (GWP) in 2024 to US$8.1 billion by 2029. This forecast represents a compound annual growth rate (CAGR) of 6.2%.
According to GlobalData analyst Swarup Kumar Sahoo, recent growth in the sector has been supported by strong activity in construction and rising demand for health coverage.
Despite the favourable outlook, market participants remain cautious about potential challenges stemming from global economic shifts and regional political uncertainty. Sahoo said these external factors could affect long-term profitability even as market opportunities expand.
