MANILA – Former Ambassador to the United States Jose L. Cuisia Jr has been appointed Chairman of the Board of FWD Life Philippines, one of the fastest-growing insurance companies in the country.
Cuisia, whose appointment took effect on January 24, served as the Ambassador to the United States of America from 2010-2016. He was also the Governor of the Bangko Sentral ng Pilipinas from 1990 to 1993, and the Administrator of the Social Security System from 1986 to 1990. His career has included several key positions with leading Philippine banks and financial institutions. He is replacing Julian Lipman who has stepped down as Chairman to assume a new role as FWD Group Chief of Staff, in addition to his Group Chief Operating Officer position at the company’s Group Office.
“We are truly honored that Ambassador Cuisia has taken on the role as Chairman of the Board. This is another step toward strengthening our game-changer position in the insurance industry,” said FWD Life President and Chief Executive Officer Peter Grimes. “We want to continue our rapid expansion, with our customer-led approach, making insurance easier to understand for Filipinos, relevant to their lifestyles and providing the financial protection that they need.”
Initially appointed as a member of the Board and Special Advisor in June 2016, Cuisia will now hold a pivotal role in taking FWD Life Philippines to the next level and achieving its goal of becoming a leading insurer locally. His insights, influence, and formidable industry experience will be invaluable as he works closely with the management team to develop growth strategies for the Company.
“In assuming the Chairmanship, I look forward to continuing to support FWD’s vision of changing the way people feel about insurance by creating fresh customer experiences, with easy-to-understand products and supported by digital technologies,” Cuisia said.
FWD Life Insurance Corporation is the first life insurance company licensed by the Insurance Commission of the Philippines under the new Insurance Code. FWD launched its commercial operations in September 2014. After its second full year of operations in 2016, FWD ranked #12 in total premium income, up one notch from previous year, according to the Insurance Commission’s report. By March 2017, FWD Life is the highest-capitalized life insurer in the Philippines with P2.3 billion in paid-up capitalization.