FWD Group Holdings Limited (“FWD Group” or “the Company”) announced today that Professor Frederick Ma GBS, JP, currently Deputy Chairman and an Independent Non-Executive Director, has been appointed Chairman of the Board of Directors (the “Board”), effective immediately.
He succeeds The Hon. Ronald Arculli GBM, CVO, GBS, OBE, JP, who is retiring as Chairman. Mr. Arculli will remain a Non-Executive Director until the earlier of the end of the calendar month in which the Company completes its planned initial public offering or 30 December 2022.
Prof. Ma joined FWD Group’s Board in 2013 and, in addition to his deep knowledge of FWD Group, he brings to the role a wealth of public company Board experience and a proven public sector track record. He currently serves as an Independent Non-Executive Director of HKEX-listed COSCO Shipping Holdings Co., Ltd. and Guangshen Railway Company Limited and New York Stock Exchange-listed HH&L Acquisition Co.
Mr. Arculli has served as FWD Group’s Chairman since its founding in 2013 and has made an extensive contribution, in particular establishing a robust corporate governance framework that has been instrumental in growing the Company into a leading pan-Asian insurer.
“Fred is the ideal person to serve as Chairman – he has been intimately involved in our journey so far and understands what it takes to successfully execute our vision of changing the way people feel about insurance,” said Mr. Arculli. “I’m excited for what lies ahead under Fred and CEO Phong’s leadership as the Company enters its next phase of growth.”
“Under Ron Arculli’s stewardship, we have built a fast-growing insurance company that is making protection easy, accessible and affordable for millions of people across Asia,” said Prof. Ma. “I’ve had the privilege of working alongside Ron for almost nine years and am honoured to succeed him as Chairman as we build on the Company’s success to generate lasting value to our investors, customers, communities and other stakeholders.”
“On behalf of the Company, I want to express my sincere gratitude to Ron for his tireless dedication and commitment to FWD Group,” said Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group. “Ron’s counsel and guidance from the Boardroom has been instrumental to our growth and helped shape our strategic direction. Fred has deep and valuable strategic insights across the full breadth and complexity of business environments. I look forward to working with him in his new role as we continue to execute FWD Group’s proven strategy to capture Asia’s underserved life insurance market.”
About FWD Insurance
FWD Life Insurance Corporation (FWD Life Insurance) launched its commercial operations in September 2014. As of end-2021, FWD Life Insurance ranks 3rd and 5th in terms of Paid-up Capital1 and Total Premium Income2, respectively.
FWD Group is a pan-Asian life insurance business with approximately 10 million customers across 10 markets, including some of the fastest growing insurance markets in the world. In the Philippines, FWD has 18 business hubs located in key cities nationwide, with its headquarters in Bonifacio Global City in Taguig.
Established in 2013, FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.
For more information, please visit fwd.com.ph.
1 www.insurance.gov.ph > Statistics > Life > 2021 > Based on Paid-Up Capital
2 www.insurance.gov.ph > Statistics > Life > 2021 > Based on Total Premium Income
Rochelle R. Vandenberghe
Chief Marketing Officer
+63 2 8558 7306