KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--AmMetLife Insurance Berhad (AmMetLife) announced today that it has received regulatory approval from Bank Negara Malaysia (BNM) to appoint Ramzi Toubassy as its new Chief Executive Officer (CEO). Upon completion of the necessary work permits, Toubassy will be based in Kuala Lumpur, Malaysia.
In this role, Toubassy will be responsible for executing a transformation strategy to achieve profitable growth, accelerate shareholder return, as well as ensuring the operational effectiveness of the AmMetLife business in Malaysia.
Toubassy has been with MetLife since 2012, and previously served as its Head of Face-to-Face Distribution for the Europe, Middle East and Africa (EMEA) region. Prior to joining MetLife, he was with AIA, where over a period of eight years, he held several key management roles for them including Deputy Chief Agency Officer in Hong Kong, Senior Assistant General Manager in Malaysia, Deputy General Manager & Director of Distribution in Korea, and most recently as their Chief Distribution Officer in Vietnam. Having started his career with AIG in 1996, Toubassy has accumulated over 18 years of experience in the insurance industry. He has a Bachelor of Arts in Political Science from Georgia State University as well as a Master of Arts in International Relations.
“We welcome Ramzi to AmMetLife and are confident that Ramzi’s experience will help us realise our ultimate aim of enhancing our value proposition to customers by meeting their evolving needs with relevant and innovative solutions, while expanding our market share in the life insurance business in Malaysia,” said Tan Sri Azman Hashim, Chairman of AmBank Group and AmMetLife Insurance Berhad.
“I am very pleased to welcome Ramzi to MetLife in Asia. Malaysia is an important market for us and Ramzi brings a wealth of experience and solid track record of delivery which will prove invaluable in leading and driving business growth in the country,” said Dr. Nirmala Menon, Head of Designated Markets & Health for MetLife in Asia.
AmMetLife was formed when AMMB Holdings Berhad’s (AmBank Group) wholly-owned subsidiary, AMAB Holdings SdnBhd and MetLife, Inc.’s wholly-owned subsidiary, MetLife International Holdings, Inc. (MetLife), completed their strategic partnership on April 30, 2014. AmMetLife offers a comprehensive range of life assurance and wealth protection solutions distributed through a combination of over 200 AmBank and AmMetLife branded branch offices, in addition to the strength of its authorised life insurance agents nationwide.
With operations in nearly 50 countries, MetLife brings its financial strength, global reach, expertise and customer centric approach and aims to improve the breadth of choice and experience of Malaysian consumers while leveraging AmBank Group’s strong market understanding, deep local know-how and solid distribution network.
About AmMetLife
AmMetLife is a strategic partnership between AMMB Holdings Berhad (AmBank Group) and MetLife International Holdings, Inc. (MetLife). AmMetLife offers a comprehensive range of life assurance and wealth protection solutions distributed through a combination of over 200 AmBank and AmMetLife branded branch offices, in addition to the strength of its authorised life insurance agents nationwide.
The strategic partnership combines the international expertise and financial strength of MetLife with the local strength and reach of AmBank Group to create a customer-centric and modern life assurance solutions provider in Malaysia.
