KUALA LUMPUR: FWD Takaful Bhd (formerly HSBC Amanah Takaful (Malaysia) Bhd) appointed James Loh Sinn Yuk as its new chairman with effect from Nov 27.
It said on Friday Loh has been FWD Takaful’s independent director since March 22,2019, and an audit committee member of FWD Singapore Pte Ltd.
Ronald Arculli, chairman of the board of FWD Group, described Loh's ascent to chairmanship as a game changer for shaping the landscape of the Malaysian Takaful industry.
"His global experience is an invaluable asset to FWD Takaful and I have no doubt his appointment will be a catalyst for bigger and brighter days ahead for the overall industry in Malaysia," he said in a statement on Friday.
FWD Takaful CEO Salim Majid Zain said Loh's extensive experience in the financial services industry at global, regional, and local levels will continue to be vital to the development of FWD Takaful as it pressed forward on our journey to become a leading Takaful provider in the country.
Loh has more than 40 years of investment experience. Since beginning his career with Salomon Brothers in New York, he has served in various capacities at a number of investment banks across the globe including Union Bank of Switzerland (now UBS AG) and Barclays Capital.
He is also the founder and former CEO of JL Capital Ltd., where he oversaw the launch of eight funds, managing more than US$1bil in assets.
His appointment as chairman of FWD Takaful follows the passing of the company’s former chairman, Kasim Zakaria, on July 23,2019.
FWD Takaful is the first Takaful business unit of FWD Group – the insurance business of investment group, Pacific Century Group – which covers Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan and Malaysia; offering life and medical insurance, general insurance, family Takaful and employee benefits across a number of its markets.
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