FWD LIFE Insurance Corp. (FWD Life Philippines) will have a new chief executive officer (CEO) starting next month, the company said on Monday.
Its parent FWD Group Holdings Ltd. (FWD Group) has appointed Antonio “Jumbing” G. De Rosas as the new president and CEO of FWD Life Philippines effective March 1, subject to the relevant approvals.
“I am honored to continue the work of the FWD team who have been doing a wonderful job of providing protection and community service to the Philippines. The underserved life insurance market is poised for growth, and FWD is well-positioned to capture the opportunities that lie ahead,” Mr. De Rosas was quoted as saying.
Mr. De Rosas has over 35 years of experience in insurance, banking, and public accounting. He was previously president, CEO and chief financial officer at a multinational insurance company in the Philippines for over 14 years.
He will take over the post currently occupied by Zhuang Li Hao, who will be the new Group Chief of Distribution Strategy at FWD Group’s headquarters.
Both Mr. De Rosas and Mr. Hao will report to FWD Group Managing Director, Emerging Markets, and Group Chief Distribution Officer Binayak Dutta, the company added.
“We are incredibly pleased to attract an industry veteran of the caliber of Jumbing to be our next CEO for the Philippines. Jumbing’s guidance has been invaluable since joining the FWD Philippines’s Board of Directors last year. We’re looking forward to leveraging even more of his deep experience in changing the way Filipinos feel about insurance,” Mr. Dutta said.
FWD Life Philippines ranked fifth in the life industry in terms of premium income in 2021 with P18.83 billion, based on Insurance Commission data. It also booked a net income of P493.89 million that year. — A.M.C. Sy