Li's insurer FWD Group names Ronald Arculli as chairman

Reuters

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

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

Those operations were renamed as FWD in August this year andthe 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 operatingofficer of FWD; Manulife Financial Corp's David Wong,who was hired as CEO for Hong Kong and Macau; and Mike Plaxtonfrom 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 firmKing & Wood Mallesons.

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