Arunothayam Rajaratnam
Independent Non-Executive Director
Ms. Arunothayam Rajaratnam (Aruno), was appointed as the Chairperson of QBE Malaysia on 18 November 2020.
She is a former Lawyer and a Chartered Insurance Practitioner has held diverse roles in the industry including being a Principle Officer, Underwriter, Broker, Reinsurer, Legal Counsel, Claims Manager and Loss Adjuster. She was awarded the "Personality Of The Year" at the 19th Asia Insurance Industry Awards (2015) in recognition of her 40 years of experience in the Asian insurance industry. In 2014, Aruno was the 1st Asian and only the 2nd woman to be awarded the prestigious PLUS 1 Award at the PLUS International Conference in Las Vegas, USA. She placed the 1st Directors & Officers Policy in Asia in 1986 and co-authored the mandatory textbook for the Certificate of General Insurance in Singapore in 1990. Aruno was the pioneer who developed and managed the First Compulsory Professional Indemnity Insurance Scheme for Lawyers in Singapore. She continues to conduct lectures for the Insurance industry and organises several workshops in Asia for PLUS and for Bima Gyaan platform in India.
Dato’ Tan Ang Meng
Independent Non-Executive Director
Dato’ Tan was appointed as an Independent Non-Executive Director of QBE Malaysia on 13 April 2016. He is the Chairman of the Audit Committee and Nomination Committee. He is also a member of the Remuneration Committee and Risk & Capital Committee.
He is a Certified Public Accountant and was admitted to the Malaysia Institute of Certified Public Accountants in 1980. Dato’ Tan started his career in 1975 with PriceWaterhouseCoopers, Kuala Lumpur in the audit division. He left the firm in 1981 to join UMW. In 1983, he joined Guinness Malaysia Berhad. Following the merger between Guinness Malaysia Berhad and Malayan Breweries (M) Sdn. Bhd., he was transferred to Malayan Breweries Limited in 1991 (which later changed its name to Asia Pacific Breweries Ltd) and served within the Group until January 2001. During that period, he held various senior management positions with his last position as Regional Director based in Singapore with responsibility for the brewery operations in China, Vietnam, Cambodia and Myanmar. In March 2001, he joined as Chief Executive Officer of Fraser & Neave Holdings Bhd, a position he held until his retirement in November 2010. Dato’ Tan is also a Director of Tower Real Estate Investment Trust, Southern Steel Berhad and Red Sena Berhad (under members’ voluntary liquidation), which all are listed on Bursa Malaysia. He is also a director of Loob Berhad, which is currently dormant.
Jason Hammond
Executive Director
Jason Andrew Hammond was appointed as a Director of QBE Malaysia on 15 May 2019. He holds a Bachelor of Business (Accounting), a Masters of Business Administration and is a member of Certified Practicing Accountant (CPA), Australia.
Jason joined QBE in 2004 as the State Manager for NSW and subsequently spent the next 10 years as General Manager for Workers Compensation in Australia where he was responsible for the management of QBE’s Australian Workers Compensation Division. More recently, he was the General Manager of QBE’s Australia Broker Distribution business. Prior to his appointment as the CEO for QBE Asia, Jason was the interim CEO for QBE North Asia seconded from QBE Australia.
Saw Teow Yam
Independent Non-Executive Director
Ms Saw Teow Yam (Yen), was appointed as an Independent Non-Executive Director of QBE Malaysia on 5 November 2020. She is the Chairman of the Risk and Capital Committee and Remuneration Committee. She is also a member of the Audit Committee and Nomination Committee. She holds a Bachelor of Economics (Honours).
Yen brings 30 years’ experience in insurance and reinsurance in the Asia Pacific region across business development, marketing and distribution, operations, and client servicing. She was the Chief Executive Officer of Tokio Marine Insurance (Malaysia) Berhad, from which she retired in 2016. Prior to that she led Aviva’s Indonesian franchise and ran CIMB’s Assurance business. Yen is an innovative thinker with a passion for technology and currently runs her own consultancy connecting reinsurance companies with investors and tech businesses.
Directors' Report - For the Financial Year Ended 31 December 2020
Corporate Governance
Financial Reporting
The Directors are responsible for ensuring that the accounting records are properly kept and that the Company’s financial statements are prepared in accordance with Malaysian Financial Reporting Standards (“MFRS”), International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia.
The Board and senior management receive regular financial and management reports to enable them to effectively monitor the financial performance and condition of the Company in relation to the corporate objectives and responsibilities.
Meetings of Directors
| Full Meeting of Directors |
Audit | Nomination | Renumeration | Risk & Capital | |
| Number of meetings held during the year | 7 | 4 | 4 | 2 | 4 |
| Number Attended | Number Attended | Number Attended | Number Attended | Number Attended | |
| Dato' Koh Hong Sun (Retired on 17 November 2020) | 5 | 3 | 4 | 2 | 3 |
| Arunothayam Rajaratnam | 6 | 3 | 3 | 1 | 3 |
| Dato' Tan Ang Meng | 7 | 4 | 4 | 2 | 4 |
| Jason Andrew Hammond | 7 | 4 | 4 | 2 | 4 |
| Saw Teow Yam (Appointed on 5 November 2020) | 2 | 1 | 0 | 0 | 1 |
- Dato’ Koh Hong Sun (Retired on 17 November 2020)
- Dato’ Tan Ang Meng
- Arunothayam Rajaratnam (Appointed as Chairperson on 18 November 2020)
- Jason Andrew Hammond
- Saw Teow Yam (Appointed on 5 November 2020)
b) In accordance with Regulation 63 of the Company's Constitution, Arunothayam Rajaratnam retired by rotation at the forthcoming Annual General Meeting and being eligible, offers herself for re-election.
c) In accordance with Regulation 68 of the Company’s Constitution, Saw Teow Yam who was appointed during the financial year, retires at the forthcoming Annual General Meeting and being eligible, offers himself for re-election.
d) According to the Register of Directors’ Shareholdings required to be kept under Section 59 of the Companies Act 2016, the interest of the Directors in office at the end of the financial year in shares in the Company or its holding company or subsidiaries of the holding company during the financial year were as follows:
| Shares in QBE Insurance Group Limited | At 1.1.2020 | Acquired | Extinguished | At 31.12.2020 |
|
Jason Andrew Hammond |
259 | 12,735 | (8,983) | 4,011 |
Rights over shares in QBE Insurance Group Limited granted to the Directors
| At 1.1.2020 | Granted | Extinguished | At 31.12.2020 | |
| Jason Andrew Hammond | 51,534 | 10,845 | - | 62,379 |
BOARD CHARTER
MEMORANDUM AND ARTICLES OF QBE INSURANCE (MALAYSIA) BERHAD