Effective communication is essential for success in leadership, especially when navigating complex challenges and economic uncertainty, according to Sandra Lee, CEO of BMS Group Ltd., a London-based insurer. Appointed CEO in January 2021, Lee believes that asking for help is not a sign of weakness but a mark of strength, self-awareness, and commitment to growth.
In an exclusive interview with Insurance Asia, Lee emphasized the importance of transparency, particularly in times of struggle. “Effective communication is not just about sharing successes and challenges but also about being open when you need help,” she said.
Lee, who has extensive experience in the insurance industry, particularly in mergers and acquisitions, previously spent nearly nine years heading transaction liability insurance at Aon Plc. She is now focusing on expanding BMS Group’s broking capabilities in the Asia-Pacific region.
While fewer women hold senior management positions in Asia-Pacific compared to the global average, Lee views this as an opportunity for growth. According to Grant Thornton’s Women in Business 2025 report, just one-third of senior management roles in mid-market firms in the region are held by women, slightly lower than the global average.
Lee, who has more than 20 years of experience in the insurance business, also spoke on the challenges leaders face during times of economic instability. She highlighted that these challenges are not gender-specific but are faced by all leaders, especially when building trust and credibility with clients.
Looking ahead, Lee believes macroeconomic uncertainty will continue to pose significant challenges for the industry in the next two to three years. The insurance sector is also undergoing a digital transformation, with insurtech still in its early stages of adoption. “Technology will continue to reshape the sector, impacting both business and operational sustainability in the long term,” she said.
Climate change, she added, is another growing concern, with an increasing frequency of natural catastrophes. In 2024 alone, economic losses from natural disasters in the Asia-Pacific region reached $74 billion, with only 5.4% of that being insured, according to a January Aon report.
In response to these challenges, Lee has implemented a strategy of centralizing resources in BMS’s dual headquarters in Hong Kong and Singapore. This approach aims to streamline operations and pool resources, ensuring the company can efficiently meet client needs even in times of uncertainty.
Despite the obstacles, Lee remains optimistic about the future of Asia’s insurance market, particularly in life and health insurance. She pointed to the rising middle class and increasingly affluent population as key drivers of growth in these segments. As economies mature, Lee predicts that insurance will play an even more critical role as a tool for risk mitigation.
“The expansion of these segments offers substantial growth potential for the industry,” she concluded.
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