Derek Teo

Executive Director
General Insurance Association of Singapore

IBF Distinguished Fellow (2013)

General Insurance

"In our rapidly evolving and robust financial landscape, there is no substitute for continuous enhancement and acquisition of new skills and competency. I would encourage every professional to seize learning at every opportunity, manifest personal values and deliver excellent outcomes."

Biography

Mr. Derek Teo was the President of General Insurance Association of Singapore from 2005 to 2013. Mr. Teo has been actively involved in promoting enhancement of standards in the general insurance industry through the General Insurance Association's activities since 1986.

In addition, Mr. Teo was elected to key positions in the Singapore Insurance Institute (SII). He was elected Vice-President in 2002, and served as President in 2003 and 2004.

A veteran in the general insurance industry for close to 40 years, Mr. Teo has held senior management positions in international insurance companies where his leadership has transformed business models, and brought consistent profitable growth in consumer lines business.

His last appointment, prior to retirement in 2013, was with AIG Asia Pacific Insurance Pte. Ltd. where he held the position of Executive Vice President since 2004.

Mr. Teo is currently the Executive Director of GIA. In 2013, he was awarded the Distinguished Financial Industry Certified Professional (DFICP), now renamed as IBF Distinguished Fellow from the Institute of Banking & Finance (IBF). He is also an Associate of the Chartered Insurance Institute, United Kingdom.