Income Insurance CEO Andrew Yeo to step down by year-end

Income Insurance said on Wednesday that Chief Executive Andrew Yeo will step down from his role, with his departure scheduled for the end of 2024. At the board's request, Yeo will continue leading the business through the transition period to ensure operational continuity.

The insurer confirmed it has initiated a search for a successor to lead the company going forward. No timeline for the appointment has been disclosed, though the board's request for Yeo to remain until December 31 suggests the process is underway.

Yeo's departure marks a leadership change for the insurance provider, which serves the Singapore market. The company has not disclosed reasons for his resignation or provided further details on the succession plan.

Income Insurance will provide updates on the chief executive appointment as the selection process progresses, the company said in a statement.