FWD Group announced on Monday the appointment of Soon Liang Lau as President and Chief Executive Officer of FWD Philippines, effective 1 June 2025, subject to relevant regulatory approvals.
He will replace Antonio Manuel “Jumbing” De Rosas, who previously served as the head of the Group’s Philippine unit. De Rosas will be transitioning to an advisory role.
Lau has been with the Group since 2016. He currently serves as Group Emerging Markets Chief Growth Officer in Singapore, a position he has held for the past three years. He brings over 20 years of industry experience to the role, including senior positions such as Head of Life Strategy and Chief Financial Officer at Tokio Marine Insurance Group.
Expressing confidence in Lau’s appointment, Binayak Dutta, a Senior Managing Director at FWD Group, said: “[Lau’s] strong leadership will be invaluable in steering the next phase of growth and in changing the way Filipinos feel about insurance.”
Dutta also extended his gratitude to Lau’s predecessor, De Rosas, crediting him with driving the business’s growth to become the number one player in the market.
Commenting on his appointment, Lau said he “looks forward to working with [the firm’s] talented team to continue delivering customer-led innovations and financial solutions that empower Filipinos to celebrate living.”
The move follows a number of key leadership appointments across Asia this year, with the business announcing Phuong Tien Minh as Chief Executive Officer of FWD Vietnam Life in March and Tsuyoshi Ijichi as Representative Director, President, and Chief Executive Officer of FWD Japan in January.
Insurance penetration in the Philippines has remained relatively low in recent years. The latest data from the Insurance Commission showed penetration rising slightly to 1.89% from 1.78% in Q1 2025, while insurance density increased by 13.40% to PHP 1,094.94 (US$19.67).
