New appointments to the Asian Alliance Insurance Board

Asian Alliance Insurance PLC announced the Appointment of two new Directors to the Board which came into effect from the 19th of March 2013.

Mr. Jatin Mukhi, joined the AAI Board as a Director, is an Insurance specialist, providing consultancy services. He has spent the whole of his working career in the insurance industry and has over 35 years of insurance experience of which 14 years have been in Asia. He understands all facets of Insurance and has vast knowledge in key areas of an insurance company, ranging from operations, pricing, marketing, distribution and general management. Jatin Mukhi has held various senior positions in Insurance Companies, and is highly skilled in setting up Greenfield operations as well as enhancing the performance of existing companies. Prior to taking on his current position, he took Zurich Japan from premium income of $US 80m to $US500m and to number 2 market share position in the direct channel. He has provided and continues to provide advice to Asian Insurance Companies in Indonesia, Malaysia, Thailand and Vietnam, assisting them to improve operations and sales distribution. He has assisted, Development Banks, to conduct due diligence on Insurance Companies in the Emerging Markets. He is currently on the Board of Directors of an Insurance Company Mansard Insurance Pty Ltd, in Nigeria as well as Asia Insurance 1950 Public Limited in Thailand.

Mr. Mukhi was born in India, but migrated to Australia in 1971 and is an Australian Citizen. His education entails both Eastern as well as Western standards as he completed his high schooling in India whilst his undergraduate as well as postgraduate studies have been in Australia. He holds a Master of Business Administration from the University of Technology, Sydney, and is an Associate of the Australian Insurance Institute.

Mr. Johannes Richters, appointed as a Director of AAI, possesses a Masters Degree in Law from the University of Amsterdam. He has served as CEO & Managing Director of ING Argentina with an eye on streamlining and selling the operations of the company. He also served as the Managing Director & General Manager, ING Group for Public & International affairs and many leadership positions in recognized international entities. Mr. Richters was also a Member of the Executive Committee, Treasurer and Acting Chairman of the Suriname Leprosy Foundation, an organization responsible for over 3,000 clients. He serves as a Board Member of the Netherlands America Foundation, an organization promoting good relationships between Dutch and U.S. businesses. He is also a member of the Supervisory Board of Polyconcept, a marketing company operating on a worldwide scale. Mr. Richters is a member of the Board of the Executive Committee and Treasurer of the Indonesia - Netherlands Association (I.N.A).

With the recent acquisition of Asian Alliance Insurance PLC's stake by the two eminent foreign investors, DEG - DEUTSCHE INVESTITIONS- UND ENTWICKLUNGSGESELLSCHAFT MBH of Germany and FMO - NEDERLANDSE FINANCIERINGSMAATSCHAPPIJ VOOR ONTWIKKELINGSLANDEN N.V. of Netherlands, the company is now poised to reach global standards in terms of best practices and sustainability.