FWD Group Holdings has announced that Frederick Ma has been appointed chairman of the board of directors. He succeeds the retiring Ronald Arculli.
Arculli will remain a non-executive director until the end of the calendar month in which FWD completes its planned initial public offering or Dec. 30, whichever comes first. He was FWD Group’s chairman since its establishment in 2013.
Ma joined FWD’s board in 2013. Prior to being appointed chairman, he was deputy chairman and an independent non-executive director. Ma has extensive experience in the public sector and on the boards of listed companies. He is currently an independent non-executive director of HKEX-listed COSCO Shipping Holdings and Guangshen Railway Company, as well as New York Stock Exchange-listed HH&L Acquisition Co.
“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,” Arculli said. “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,” Ma said. “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, CEO 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.”