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Great Eastern Holdings announces new chairman

Published on Mar 28, 2014 8:16 PM

Great Eastern Holdings announced on Friday that Mrs Fang Ai Lian will step down as its chairman after the annual general meeting on April 16.

Mr Norman Ip, who has been a board member since 2010, will succeed Mrs Fang.

Mrs Fang has been chairman since April 2008, and has served as the chairman of the group's principal insurance subsidiaries in Singapore and Malaysia.

During her term, Great Eastern Group's net profit grew from $272.4 million in 2008, to $674.8 million in 2013. Total assets rose from $44.2 billion to $60.9 billion over the same period.

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