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Canada Life Re expands in Singapore and appoints Wil Chong as CEO
The reinsurance arm said its Singapore move is aimed at strengthening support across Asia Pacific clients, with a focus on bespoke capital relief for biometric and financial market risks.
Canada Life Re, the reinsurance division of The Canada Life Assurance Company, has established a new regional office in Singapore to reinforce its long-term commitment to Asia Pacific, according to Reinsurance News.
The company also named Wil Chong as chief executive officer of Canada Life Services, the Singapore entity it established. Chong has been with the business since 2022, most recently serving as executive advisor for Asia Pacific.
Canada Life Re said its Singapore office is intended to improve its ability to support clients and business partners throughout Asia Pacific. The company provides reinsurance solutions across Asia, Europe, and North America, including bespoke capital relief solutions covering biometric risks such as longevity, mortality, and lapse, as well as financial market risks.
The outlet added that Canada Life Re has completed transactions across North Asia, South-East Asia, and Australia, and positioned Asia Pacific as a fast growing region for its business. Chong said the office strengthens the firm’s ability to support its operations and clients across the region.