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FWD Life Insurance Corporation (FWD), the fastest growing insurance company in the Philippines, is delighted to announce today the appointment of Ambassador Jose L. Cuisia, Jr. as Non-Executive Director of the Board, effective July 2016.
Philippines, 18 July 2016 - FWD Life Insurance Corporation (“FWD”), the fastest growing insurance company in the Philippines, is delighted to announce today the appointment of Ambassador Jose L. Cuisia, Jr. as Non-Executive Director of the Board, effective July 2016. Ambassador Cuisia will also act as a Special Advisor to the Company and its Management.
“It is truly an honor to welcome Ambassador Cuisia to FWD Philippines. We are excited to begin working with him as we continue fulfilling our vision of changing the way Filipinos feel about insurance,” said FWD Philippines President and CEO, Peter Grimes. “His expertise in the field of financial services, business and international relations will be a tremendous asset to FWD as we pursue our goal to be among the top insurers in the country and continue to respond to the varying, yet distinct needs of the Philippine market.”
Helping FWD become a ‘game changer’
Ambassador Cuisia, the former Governor of the Central Bank of the Philippines and Chairman of its Monetary Board, brings over 10 years’ experience in public service following his tenure at the Central Bank, as well as with the Social Security System (SSS) as President and Chief Executive Officer during the 1980s and 1990s. Ambassador Cuisia has been credited with helping strengthen the Philippine peso and the country’s foreign exchange reserves during his time with the Central Bank. Overseeing the creation and implementation of policies that liberalized foreign exchange controls, Ambassador Cuisia has also been credited for helping to attract foreign direct investments into the country, and boosting the local economy.
Ambassador Cuisia‘s impressive financial services experience also spans more than 30 years, as well as his expertise as a trustee of academic institutions and non-government organizations espousing good governance and corporate social responsibility, including the Asian Institute of Management (AIM).
“2016 is a really exciting year for the Philippines, and I am genuinely pleased to be part of FWD, a game changer in the local insurance sector,” Ambassador Cuisia said. “I am looking forward to helping FWD bring a fresh and innovative approach to insurance in the Philippines with the aim of making insurance easier to understand, and more relevant to the lifestyle and protection needs of Filipinos."
Market familiarity as a differentiator
FWD is an Asian-born insurer and one of the region’s fastest developing insurance companies. Recently, FWD marked its second year in the Philippines with a continued commitment to enable more Filipinos to “Get Ready to Live.”
Acknowledging the country as an important and dynamic market within ASEAN, and alongside FWD’s goal to become a leading insurer in the region, FWD sees its Asian heritage as an advantage.
“I believe that our lack of legacy and our Asia focus, gives FWD a significant operating edge. We are structured in a way that enables us to be agile in our decision-making and not afraid to embrace change and challenge the status quo wherever we feel that it needs some improvement,” Grimes states. “Our commitment to utilizing user-friendly technology is an integral part of our strategy and an important differentiator for FWD. We will continue to invest heavily in technology that enhances our customer proposition.”
“The Ambassador,” Philippine Embassy of the Philippines, Washington D.C. (http://www.philippineembassy-usa.org/philippines-dc/embassy-dc/the-ambassador-dc/ambassadors-bio-dc/)
FWD Life Insurance Corporation (“FWD Life”) is the first life insurance company licensed by the Insurance Commission of the Philippines under the new Insurance Code. FWD launched its commercial operations in September 2014. After its first full year of operations in 2015, FWD Life now ranks #13 in terms of total premium income according to the Insurance Commission’s end-2015 report.1 FWD Group spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, and Vietnam, offering life and medical insurance, general insurance, and employee benefits across a number of its markets. Established in Asia in 2013, FWD is the insurance business arm of investment group, Pacific Century Group.
FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by leading digital technologies. Through this customer-led approach, FWD will achieve its vision to become the leading pan-Asian insurer that changes the way people feel about insurance.
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