Front Street Re plans expansion in North America with new CEO hire
Cayman Islands-based insurtech and reinsurance company Front Street Re, a subsidiary of Lexasure Financial Group, has unveiled a new chief executive officer (CEO) to expand its footprint in North America.
Edison Fong joins Front Street Re as CEO. Most recently, he worked as a director at Converge Re, a reinsurance company focused on asset-intensive reinsurance in the life and annuities markets in the US, based in New York City.
Previously, Fong spent the majority of his career in Toronto at Manulife Financial 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 US life departments. He also has experience across actuarial functions with multinational companies in North America and the UK. He serves on committees for the Canadian Institute of Actuaries and the American Academy of Actuaries.
Front Street Re focuses on annuity, life, health, and general reinsurance solutions.
Ian Lim, CEO of Lexasure Financial Group and president of Front Street Re, said: "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.”
Fong said: “I am incredibly excited to be joining the Lexasure family and expanding our North American footprint with Front Street Re.
“There is clearly a need for innovative and customised 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.”
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