Has that trust in AIA been shattered, what with panicky policy-holders continuing to queue at its offices despite assurances from the insurance company and the Monetary Authority of Singapore (MAS)?
He is one of the biggest names in the insurance business, heading AIA for more than four years.
Now, in the midst of turmoil stemming from parent company AIG's financial crisis comes the sudden late-night announcement of Mr Mark O'Dell's resignation as AIA Singapore's executive vice-president and general manager.
On the same day: An analysis in the International Herald Tribune raising the spectre of Asia's new distrust of AIA, a crisis of confidence from which it may never recover.
Yesterday, AIA Singapore issued a statement that Mr O'Dell will be on leave of absence 'with immediate effect'.
However, the statement said that his decision to leave the company was not related to the crisis at American International Group (AIG), that it was a personal decision that he had been planning for some time.
Why now? The statement did not address the question of timing. Its spokesman could not be contacted.
It is believed that Mr O'Dell is joining a rival insurer overseas.
Mr Kenneth Juneau, executive vice-president and senior regional life executive of AIA's regional office, would take over as head of AIA Singapore in the interim.
The MAS issued its own statement, saying that it had been notified of the change.
'Smooth transition'
Mr Low Kwok Mun, MAS executive director (insurance supervision), said: 'There are no other changes in AIA Singapore's management team... and MAS expects a smooth transition.'
Mr O'Dell joined AIA Singapore in 2004, after four years as head of AIA Malaysia.
He started his career in the insurance industry in the 1980s as an agent with US-based Prudential, but moved to Singapore in 1994 for a two-year stint as an agency director.
Mr O'Dell's departure comes in the wake of the US government's rescue of AIG on Tuesday.
AIG's financial woes had in turn triggered panic among AIA policy-holders in Singapore, resulting in hundreds surrendering their policies over the last two days.
About 2,000 policies were terminated with AIA Singapore in the last few days.
The International Herald Tribune, in a front-page analysis, suggested that while AIG may have narrowly escaped a collapse, its Asian customers could be less forgiving.
It also reported that AIG might be required to sell some of its profitable Asian operations to pay off the US government's $85 billion ($122b) loan.
The report said that former AIG chairman Maurice Greenberg had spent decades building ties with Asian leaders, helping AIG grow into the biggest foreign insurer in Japan and China.
Asia, one of the largest and fastest-growing markets for the insurer, accounted for about 40 per cent of its US$54 billion ($77b) in life insurance premiums and retirement services last year.
'Losing parts of Asia would be like losing the crown jewels,' the report stated.
However, in the MAS statement, Mr Low said that the central bank's regulatory oversight of AIA and all insurers in Singapore is rigorous.
'We are satisfied with the ability of the company to carry on business as usual and to meet new demands even when there are changes in management.'
He added that MAS expects all insurers to maintain adequate capital at all times, and that AIA Singapore has sufficient assets in its insurance funds to meet its liabilities to policyholders.
'MAS continues to monitor this closely. We urge policy-holders not to act hastily to terminate their insurance policies as they may suffer losses from the premature termination and lose the insurance protection they may need,' he said.
This article was first published in The New Paper on September 19, 2008.
