31 May 2023
FWD Group, a prominent insurance company, announces the appointment of a distinguished industry leader as their new Managing Director and CFO.
In a significant announcement today, FWD Group Holdings Limited, a leading insurance company in Asia, revealed the appointment of Sid Sankaran as their new Managing Director and Group Chief Financial Officer (CFO). The appointment will come into effect on September 1, 2023, pending regulatory approval. However, Mr. Sankaran will join the company as a Senior Advisor starting from June 1, 2023.
The CEO of FWD Group, Huynh Thanh Phong, expressed his delight at the addition of Sid Sankaran to the company’s leadership team. As FWD Group approaches its 10th anniversary, Phong emphasized Sankaran’s extensive experience as a CFO in public companies, his deep understanding of the global insurance industry, and his valuable expertise gained from serving on listed company boards. Phong believes Sankaran’s appointment will be an excellent asset for the Group Executive team.
Sid Sankaran said, “I’m incredibly excited to be joining a life insurance company and team that’s successfully positioned itself at the heart of the middle-class growth story in Asia. FWD rapidly gained scale and demonstrated the resilience of its differentiated business model during the pandemic years. The company is operating in the most dynamic region in the world for digitally-enabled financial services.”
Upon assuming his new role, Mr. Sankaran will become a member of the FWD Group Executive Committee and will report directly to CEO Huynh Thanh Phong. He will be taking over from Jon Nielsen, who is set to pursue a career opportunity in North America. To ensure a smooth transition, Nielsen has committed to remain with FWD Group until August 31, 2023, including overseeing the company’s half-year results.
Sid Sankaran brings with him a wealth of experience in global insurance and finance leadership. He currently serves on the Board of Directors at health insurance company Oscar Health (NYSE: OSCR), where he has been acting as their Interim Chief Financial Officer. Previously, Sankaran held the positions of Chairman and CEO at SiriusPoint from its inception and listing in 2021 until May 2022. He also served as Chairman of the Board of Directors of Third Point Reinsurance Ltd. during its acquisition of Sirius Group.
Before that, Sankaran played pivotal roles at American International Group from 2010 to 2018, serving as Chief Risk Officer and later as Chief Financial Officer. He was an integral part of AIG’s executive team, leading the company through a successful restructuring process after government support and subsequent re-IPO as an independent entity. Prior to his time at AIG, Sankaran worked as a Partner in the Finance and Risk practice of Oliver Wyman Financial Services, where he led the Toronto office. He completed his Bachelor of Mathematics degree with distinction, majoring in actuarial science, from the University of Waterloo.
Sid Sankaran’s appointment as Managing Director and Group CFO of FWD Group Holdings Limited signals an exciting new chapter for the company. With his vast experience and proven track record, Sankaran is poised to lead FWD Group towards continued growth and success in the evolving landscape of the insurance industry in Asia.
