FWD Life Insurance Corporation (FWD), the Philippines arm of FWD Group, has today officially launched its business operations.
As the first foreign life insurer in nearly a decade to enter the Philippine market and the first to be granted a license under the new Insurance Code of the Philippines, FWD is set to energize the industry with its technology-driven approach in delivering products and innovative service propositions to the local market.
“FWD wants to change the way Filipino consumers feel about insurance,” said Huynh Thanh Phong, FWD Group Chief Executive Officer based in Hong Kong. “With the country’s developing economy, a rising middle class and increasing disposable incomes, we see vast opportunities to contribute to the country’s growth by providing financial security to the Filipino people.”
During its recent office inauguration at W Fifth Avenue, Bonifacio Global City, FWD’s regional executives celebrated the milestone with local senior management and its team of more than 70 employees. The company is set to expand its workforce to 100 by the end of the year.
“We are building a strong local team and agency force, and we are extremely confident that our people will help FWD conquer new heights as we officially open for business,” said Phong. “We are also investing heavily in technology and establishing strategic distribution partnerships to deliver our insurance solutions through platforms relevant to the local community,” added Phong.
FWD is initially offering two insurance products: All Set, a single pay insurance plan; and Set for Life, a regular pay insurance plan with optional accidental death, hospital cash, critical illnesses and waiver of premium benefits. FWD is currently developing further products to provide investment, traditional savings, health and protection benefits to customers.
Regional executives graced the inauguration of FWD Philippines’ office during a ribbon-cutting ceremony in the 19th Floor of W Fifth Building, Bonifacio Global City. Photo shows (from left): Peter Grimes, FWD Group Chief Partnership Distribution Officer; Huynh Thanh Phong, FWD Group CEO; Lucia Chona Sevilla-Ventura, FWD Philippines Chief Financial Officer; Julian Lipman, Group Chief Operating Officer and FWD Philippines Chairman; and Leo Dominguez, Member of the Board of Directors
About FWD Group
FWD Group is the insurance business arm of the private investment group, Pacific Century Group. FWD’s business spans Hong Kong, Macau and Thailand, offering life insurance services, as well as general insurance, employee benefits and financial planning in Hong Kong. In addition, FWD has a brand presence in Indonesia. FWD’s focus is to leverage technology to enhance customer experience, deliver innovative products, and invest in talent to create a leading pan-Asian life insurer.
For more information please visit WWW.FWD.COM.
About FWD Life Insurance Corporation
FWD Life Insurance Corporation is the first foreign life insurer in nearly a decade to enter the Philippine market and the first to be granted a license under the new Insurance Code of the Philippines.
For more information please visit WWW.FWD.COM.PH.
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Edwardo Miguel Guevarra Roldan
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Financial Wealth Planner at FWD Life Philippines
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