FWD Group appoints Sid Sankaran as Group CFO

HONG KONG, May 31, 2023 /PRNewswire/ -- FWD Group Holdings Limited ("FWD Group" or "the company") today announced the appointment of Sid Sankaran as Managing Director and Group Chief Financial Officer (CFO), effective 1 September 2023, subject to regulatory approval. Mr Sankaran will join the company as Senior Advisor from 1 June 2023.

Huynh Thanh Phong, Chief Executive Officer of FWD Group, said, "We're very pleased to welcome Sid's leadership for the next stage in FWD's development as we cross our 10^th anniversary year. Sid's extensive public company CFO, global insurance industry and listed company board experience will be a fantastic addition to our Group Executive team."

Sid Sankaran said, "I'm incredibly excited to be joining a life insurance company and team that's successfully positioned itself at the heart of the middle-class growth story in Asia. FWD rapidly gained scale and demonstrated the resilience of its differentiated business model during the pandemic years. The company is operating in the most dynamic region in the world for digitally-enabled financial services."

Mr Sankaran will become a member of the FWD Group Executive Committee and will report to Huynh Thanh Phong.

Mr Sankaran succeeds Jon Nielsen, who as previously announced, will be pursuing a career opportunity in North America. Mr Nielsen has committed to remain with FWD Group until 31 August 2023, including through its half-year results, to ensure a smooth transition.

Sid Sankaran's professional biography

Mr Sankaran has extensive global insurance and finance leadership experience.

Mr Sankaran serves on the Board of Directors at health insurance company Oscar Health (NYSE: OSCR), where currently he is acting as their Interim Chief Financial Officer.

Previously, he was the Chairman and CEO of SiriusPoint (NYSE: SPNT) from the company's inception and listing in 2021 until May 2022, having served as the Chairman of the Board of Directors of Third Point Reinsurance Ltd. during its acquisition of Sirius Group.

Earlier in his career, Mr Sankaran worked from 2010 until 2018 at American International Group (NYSE: AIG), first as Chief Risk Officer and later as Chief Financial Officer. Mr Sankaran was a key member of the executive team that led AIG through its restructuring from government support and re-IPO as an independent company.

Prior to joining AIG, Sid was a Partner in the Finance and Risk practice of Oliver Wyman Financial Services, where he led the company's Toronto office. He graduated with distinction from the University of Waterloo with a Bachelor of Mathematics majoring in actuarial science.

About FWD Group

FWD Group is a pan-Asian life insurance business with more than 10 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. FWD reached its 10-year anniversary in 2023. The company 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 www.fwd.com