Income Insurance Limited has announced the appointment of Lim Sim Seng as Chairman of its Board of Directors from July 1, 2026.
Mr Lim, appointed as an Independent Non-Executive Director on May 1, 2026, will also serve as Chairman of the Nominating, Human Capital and Remuneration Committee and the Board Executive Committee, and as a member of the Risk Management Committee.
“I look forward to working with the management team and all stakeholders to progress Income Insurance’s next phase of growth,” said Mr Lim, Chairman-Designate of the Board and Director, Income Insurance.
He succeeds Ms Joy Tan, who will continue on the Board as a Non-Independent, Non-Executive Director and member of the Board Executive Committee, the Audit Committee and the Nominating, Human Capital and Remuneration Committee. Ms Tan joined the Board in 2016 and served as Chairperson from 2025, guiding the organisation through a key period of transformation and Board renewal.
“We are pleased to welcome Mr Lim Sim Seng as Chairman. His extensive experience and deep understanding of governance in financial institutions will be invaluable as we continue to strengthen our business and deliver long-term value to our customers and stakeholders amidst a rapidly evolving insurance landscape,” said Andrew Yeo, Chief Executive Officer, Income Insurance.
Mr Lim brings over four decades of leadership experience in financial services, including senior roles across Asia, North America and the Middle East. He most recently served as a Group Executive at DBS, where he led its Consumer Banking and Private Banking businesses. He is Deputy Chairman of SIA Engineering Company, holds board positions with IOI Properties Group and Trust Capital Group, and serves as Singapore’s Non-Resident High Commissioner to Nigeria.