GEORGETOWN, Cayman Islands,
May 8,
2024 /PRNewswire/ -- Front Street Re ("FSR" or
the "Company"), an international Insurtech and reinsurance company
that focuses on annuity, life, health, and general reinsurance
solutions and is an operating subsidiary of Lexasure Financial
Group Limited ("Lexasure"), today announced the appointment of
Edison Fong as Chief Executive
Officer following a thorough search process.
Mr. Ian Lim, Chief Executive
Officer of Lexasure Financial Group and President of Front Street
Re, stated, "Please join me in congratulating Edison as he assumes
the CEO role at Front Street Re. His broad actuarial experience,
deep financial acumen, and relentless drive to succeed will be
critical in driving further innovation and efficiency as we
continue this next phase to establish global partnerships. Lexasure
is committed to the continued growth of Front Street Re, and I
could not be more pleased to be announcing Edison's appointment
today."
"I am incredibly excited to be joining the Lexasure family and
expanding our North American footprint with Front Street Re," said
Edison Fong, Chief Executive Officer
of Front Street Re. "There is clearly a need for innovative and
customized reinsurance solutions across business lines serviced by
growth-constrained small- and mid-sized insurers with limited
access to technology and capital. I believe that Lexasure's
strategy of tailored products combined with digital platforms that
reduce customer transaction costs and benefit the global insurance
ecosystem is overdue in this market and look forward to pursuing a
wide range of new partnerships to support and grow the insurance
industry together."
Prior to joining the Company, Mr. Fong worked at Converge Re, a
reinsurance company focusing on asset-intensive reinsurance in the
life and annuities markets in the US, based in New York City. Prior to that, Mr. Fong spent
the majority of his career in Toronto at Manulife Financial (NYSE: MFC),
where he held leadership roles building a project team within the
Global Variable Annuities division and had previously worked in the
Group Risk Capital and U.S. Life departments. He also accumulated a
diverse range of experiences across all facets of actuarial
functions with multinational companies in North America and the U.K. and currently
serves on committees for the Canadian Institute of Actuaries and
the American Academy of Actuaries.
Mr. Fong earned a Bachelor of Mathematics with a double major in
actuarial science, finance, and statistics with a minor in
economics at the University of Waterloo
in Ontario, Canada. He is also a
designated Member of the American Academy of Actuaries, a Fellow of
the Society of Actuaries, a Fellow of the Canadian Institute of
Actuaries, a Chartered Enterprise Risk Analyst, and a Chartered
Financial Analyst (CFA) charter holder.
About Front Street Re
Front Street Re is comprised of two corporate entities that
focus on annuity, life, long-term care, health, and general
reinsurance solutions to help our clients gain access to new
technology, improve profitability, and enhance growth potential.
Front Street Re (Cayman) Ltd. (FSR) focuses on life, annuity, and
health reinsurance products, including reinsurance solutions that
improve clients' leverage ratios and capital positions through the
assumption of a wide range of risks and liabilities. FSR seeks to
provide clients with innovative reinsurance support and technology
partnerships to small and midsize insurance and Insurtech companies
for existing in-force blocks and new flow business, as well as exit
strategies for discontinued lines of business. Front Street
Reinsurance Limited (FSRL) provides a broad range of general
reinsurance and specialty lines facultative and treaty reinsurance
ranging from traditional quota-share and excess-loss to customized
reinsurance services. Front Street Re is dedicated to helping
insurance and Insurtech companies underwriting new business to
elevate their growth potential in North
America and globally. For more information, visit
frontstreetre.com.
About Lexasure Financial Group
Lexasure Financial Group provides reinsurance and digital
insurance solutions, including Reinsurance-as-a-Service (RaaS),
that Lexasure believes will enable our clients to manage risk,
accelerate growth, and effectively compete. We seek to drive the
digital transformation of the insurance and reinsurance industry
with scalable and innovative products that meet the local needs of
companies and people in fast-growing Asian markets. Our management
team has deep expertise in reinsurance, insurance, and insurance
technology. Our values are based on a belief that our products
enable customers to live and grow boldly while enhancing
resilience. We serve over 60 primary insurers across 22 countries
in Asia, the Middle East and North America. For more information, go to
lexasure.com.
Media Contact
Crocker Coulson, CEO, AUM Media
+1 (646) 652-7185
crocker.coulson@aummedia.org
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SOURCE Lexasure Financial Group Limited