Second Generation “2G” LeadersJuly 2, 2021
Chief Business OfficerSeptember 2, 2021
"Our New Captain"
New Principal Officer Appointment
The Archipelago Group (TAG) is delighted to announce the appointment of
Mr. Ahmed Farouk Aripen
as the next Principal Officer (PO)
Archipelago Insurance Limited effective 9th August 2021.
Mr. Ian Lim Teck Soon said “We are pleased that Labuan FSA has approved our recommendation
for Mr. Ahmed Farouk as Principal Officer of Archipelago Insurance Limited. He has been
a significant member of our senior management team and is fully competent as an experienced
flagship captain. Our commitment to our clients, partners and advisors remain resolute and
our priority is to build a robust second generation “2G” leadership towards our great voyage
of Endless Possibilities.”
“It is a privilege to helm this opportunity as its new PO. I look forward in expanding
Archipelago’s regional base in Asia through the latest Labuan Insurance Product Offerings a
nd position TAG as a meaningful contributor to the growth of Labuan IBFC. An important factor
in making Archipelago even more effective is digitalisation. Our digital culture is starting
to thrive and we are establishing new agile working methods with our business clients and
partners.” said Mr. Ahmed Farouk Aripen.
Ahmed Farouk Aripen is a Chartered Accountant from the Malaysian Institute of Accountants
and Certified Practicing Accountant from CPA Australia. He holds a B.A in Accountancy from
the University of South Australia, Certificate in International Risk Management (CIRM) from
the Institute of Risk Management of UK and Certificate of the Malaysian Insurance Institute
(CMII). He started his career in 1994 with the international audit firm Coopers & Lybrand
and then with Ernst & Young followed by a career in the construction and engineering industry
as a management accountant. He ventured into the insurance industry in Labuan through Etiqa
Offshore and on to Challenge Group as its insurance and underwriting manager, specialising
in captive management, reinsurance broking and accounting, risk management, compliance, and
corporate governance. After serving Labuan Reinsurance (L) Limited as the AVP for Finance &
Accounts, he joined The Archipelago Group in 2018 taking the role of the Principal Officer
and Director of the PCC (protected cell captives) operations and the Group Chief Financial
Officer. With this new appointment in the Group, he will relinquish his position as the Principal
Officer in the PCC operations but still maintain his position as the Group Chief Financial Officer.
The Archipelago Group is a Labuan based insurance financial institution delivering bespoke
Insurance, Reinsurance, Insurtech solutions and services in Asia. Through its operating entities
licensed by Labuan FSA – Archipelago Insurance Limited and Archipelago Life Insurance
Limited, the Group provides comprehensive and multi-faceted products and services of (re)
insurance, life insurance, takaful general and family takaful. The Group expands its business
by using technology solutions and building alliances with insurance players in the Asian region.
The Group’s entities operate within the Labuan IBFC regulated framework and are members of
the Labuan International Insurance Association (LIIA).