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Insurance Industry Leader Wong Kim Teck Joins Nicholas Actuarial Solutions

Shahina Khatun

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Wong Kim Teck is a household name in the Malaysian general insurance industry with more than 35 years of experience in Asia. Wong has joined Nicholas Actuarial Solutions as a Director and formerly was a chairman of the General Insurance Association of Malaysia.

The Founder & Actuary of Nicholas Actuarial Solutions, Nicholas Yeo said that the demand for the actuarial solutions in the general insurance has been expanding notably for the past fewer years because of growing culture of the general insurance business, enhanced regulatory as well as financial reporting requirements like the IFRS 17 and the adoption of newer technology and artificial intelligence. Besides, the activity for the merger and acquisitions also have been on the rise in the area.

Nicholas also said that Wong brought notable expertise, dynamism, and experience to the team.

This is the 2nd high profile addition to the Nicholas Actuarial Solutions in 2020. Patrick Cheah, a senior actuary and past president of the Actuarial Society of Malaysia, earlier in January, joined the Nicholas Actuarial Solutions.

Wong Kim Teck has experience of more than 30 years in the general insurance industry. In his previous capacity as a Chief Executive Officer and Managing Director of the insurance companies, he led major transformation initiatives and turnaround programs in the companies that he led. He also took a key role in the Malaysian general insurance industry by serving the General Insurance Association of Malaysia as a Deputy Chairman in 2009 before being elected as Chairman in 2012. Wong is also a Principal Director in the Labuan Insurance Management Services Limited and a Chartered Insurance Practitioner.

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