Li's insurer FWD Group names Ronald Arculli as chairman

HONG KONG Thu Oct 24, 2013 3:19am EDT

HONG KONG Oct 24 (Reuters) - FWD Group named Ronald Arculli as its chairman, the Hong Kong-based insurer said on Thursday as owner Richard Li takes on the industry's entrenched players by hiring top executives in Asia and from the competition.

Li launched FWD in October 2012 and last year acquired ING Groep's Hong Kong, Macau and Thailand insurance units for $2.1 billion in cash, marking his return to an industry he had exited in 2007.

Those operations were renamed as FWD in August this year and the company is owned by Li's Pacific Century Group.

Key recent hires by Li include Zurich Insurance Group AG's Julian Lipman, who was named regional chief operating officer of FWD; Manulife Financial Corp's David Wong, who was hired as CEO for Hong Kong and Macau; and Mike Plaxton from AXA, who is CEO for Thailand.

Arculli was chairman of Hong Kong Exchanges and Clearing Ltd until last year, before moving to Asia-based law firm King & Wood Mallesons.

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