Singapore Reinsurance Corporation (Singapore Re) has named Ramaswamy Athappan as chairman, succeeding Hwang Soo-Jin, who will assume the role of senior advisor. The changes take effect on 1 January.

Athappan was appointed to the Board on 1 August 1988 and became Deputy Chairman on 12 June 2003. He remains a member of the audit, nominating, remuneration and investment committees.

With more than 30 years' experience in the fields of insurance and finance, Athappan is the CEO of First Capital Insurance Limited and Director of Lee Kim Tah Holdings.

David Chan Mun-Wai succeeds Athappan as deputy chairman of Singapore Re and the executive committee. He continues his existing appointments in the audit, nominating, remuneration and investment committees.

Ong Choo-Eng has been named a member of the audit, nominating and remuneration committees, in addition to his current role in the executive and investment committees.

Meanwhile, as senior advisor, Hwang will oversee the management of investments, China affairs, internal audit and all subsidiary companies, as well as advise the board and senior management on corporate affairs. He has also been given the title of chairman emeritus, after serving as director since Singapore Re's formation in 1973 and as chairman for almost a quarter of a century.

Hwang remains a member of Singapore ReÆs executive and remuneration Committees, and continues to chair the nominating and investment committees. He has also been appointed a member of the audit committee.

During HwangÆs tenure as chairman, Singapore Re's shareholders' fund grew more than 10-fold from S$14 million to S$186 million, while total assets rose 478% from S$86 million to S$497 million as of end-December 2006.

Hwang û a former member of the Parliament of Singapore, former deputy speaker, and former chairman of the Public Accounts Committee of the Parliament û sits on the boards of United Overseas Insurance Limited, Haw Par Corporation, United Industrial Corporation and Singapore Land. He is honorary fellow of the Singapore Insurance Institute and a qualified chartered insurer who had served as president of the General Insurance Association for several years.