FWD’s group CIO to exit
FWD’s group chief investment officer, Andreas Hoffmann, will leave the pan-Asian insurance group after over four years there, AsianInvestor has learned.
The Hong Kong-based firm is well advanced in its search for a replacement, and Hoffman will remain towards the end of the year to help ensure a smooth transition, said a source familiar with the situation.
His move is down to a decision to spend more time with his family in Germany, and he will look for new roles closer to home, the source added.
FWD declined to comment for this article.
Having worked at Italian insurer Generali since 2014, Hoffmann joined FWD in June 2020 as deputy CIO, reporting to group CIO Paul Carrett, as first reported by AsianInvestor.
Hoffmann became group CIO after Carrett left FWD three months later to join Pacific Century Group, the private investment firm that owns the insurer, in news also broken by AsianInvestor.
Carrett is now head of Asia Pacific reinsurance at Canada’s Brookfield Asset Management.
As of end-2023, FWD had $52.7 billion in assets, of which $41 billion were general account assets, according to the latest annual report.
The firm has operations in Hong Kong, Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan, Malaysia and Cambodia.
Its offerings include life and medical insurance, general insurance and employee benefits.
In another departure from FWD, its chief compliance officer, with responsibility for investment risk, Niall Grady, left to join Canada’s Sun Life as Asia chief risk officer.
Note: Main picture courtesy of FWD Group Holdings Limited.