On 15 September, Assurances Generale Laos Sole Co.,Ltd (AGL) announced that longtime Chief Executive Officer Guy Apovy has stepped down after 19 years in the role.
Replacing Apovy on an interim basis is Sengaloun Inmyxai, who has been appointed Acting CEO by the Ministry of Finance.
The announcement was made during a handover and retirement ceremony held on September 15 at the Amari Hotel in Vientiane.
The Ministry, as AGL’s sole shareholder, confirmed the appointment through Notice No. 2855/MoF dated 5 September 5.
The company’s Board of Directors is expected to formalize the move in its next resolution.
Apovy first took over as CEO in July 2006 and has led the company through almost two decades of growth in the Lao insurance market. During his time, Assurances Generale Laos Sole Co.,Ltd (AGL) expanded its range of insurance products and maintained its position as the country’s largest insurer.
Although stepping down, Apovy is in talks with AGL about continuing in a consultancy role to provide support and advice.
The company said business operations and commitments to clients and partners will continue without interruption under the leadership of Sengaloun.