FWD Life Insurance Corporation (FWD Insurance), part of pan-Asian FWD Group, maintained its top3 ranking for the third straight year in the Asean Corporate Governance Scorecard (ACGS).
FWD Insurance has consistently increased its ACGS score for the past three years, and in 2019, breached the 100-point mark with 101.02 points.
Li Hao Zhuang, FWD Insurance President and Chief Executive Officer, received the recognition at the ceremony held in the Philippine International Convention Center in Pasay City last month.
The ACGS is a diagnostic tool used to evaluate corporate governance practices and developed based on international benchmarks such as the Organization for Economic Cooperation and Development, Principles of Corporate Governance, the International Corporate Governance Network Governance Principles, as well as industry-leading practices from Asean and the world.
“We’redelighted to receive this recognition once again as it validates FWD’s continuing commitment to transparency and trust by ensuring sound corporate governance practices within our organization,” Li Haosaid.
“This honor further inspires us to continue providing our customers with the security and financial peace of mind they deserve and to work even harder towards achieving our vision of changing the way people feel about insurance.”
FWD Life Insurance Corporation (FWD Life) launched its commercial operations in September 2014. As of end-2018, FWD Life has the highest Paid-Up Capital among life insurers in the Philippines with P2.3 billion.
FWD Life now ranks 8th in the life insurance industry in terms of New Business Annual Premium Equivalent.
FWD Group spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan, and Malaysia, offering life and medical insurance, general insurance, employee benefits, Shariah, and Family Takaful products across a number of its markets.
Established in Asia in 2013, FWD is the insurance business arm of investment group, Pacific Century Group. In the Philippines, FWD has 17 business hubs located in key cities nationwide with its headquarters in Bonifacio Global City in Taguig.
FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance.