Front Street Re Appoints Edison Fong as Chief Executive Officer

Rhea-AI Summary

Front Street Re, an international Insurtech and reinsurance company, appointed Edison Fong as Chief Executive Officer. Fong brings actuarial experience and financial acumen to drive innovation and efficiency. Lexasure Financial Group is committed to Front Street Re's growth, focusing on global partnerships and tailored products.

Positive

• Edison Fong's appointment brings actuarial expertise and financial acumen to drive innovation and efficiency at Front Street Re.
• Lexasure Financial Group's commitment to Front Street Re's growth and global partnerships signals a positive outlook for the company.

Negative

• None.

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/front-street-re-appoints-edison-fong-as-chief-executive-officer-302139861.html

SOURCE Lexasure Financial Group Limited

FAQ

Who is the new Chief Executive Officer of Front Street Re?

Edison Fong is the new Chief Executive Officer of Front Street Re.

What are the areas of focus for Front Street Re?

Front Street Re focuses on annuity, life, health, and general reinsurance solutions.

What is the stock symbol of Manulife Financial?

The stock symbol of Manulife Financial is MFC.

Where did Edison Fong work before joining Front Street Re?

Before joining Front Street Re, Edison Fong worked at Converge Re and Manulife Financial.

What are Edison Fong's qualifications?

Edison Fong holds a Bachelor of Mathematics and is 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.