ACR appoints former Ace exec as CFO

ACR Capital has appointed Sergei Korol as group chief financial officer (CFO).

He succeeds Tan Chong Liong, who will fully focus on expanding the company’s business in North Asia in his position as chief operating officer, North Asia, at Asia Capital Re, ACR’s wholly-owned reinsurance operating subsidiary.

Korol joins ACR from Ace in Hong Kong, where he was regional CFO, Ace life Asia Pacific and China. Prior to that, Korol served with Metlife after spending 12 years in a number of AIG operating life companies managing a spectrum of portfolios, including financial analysis, investment and capital management.

John Tan, group chief executive of ACR, said: “ACR’s operations have expanded significantly since we started business nine years ago. We now have offices in 11 territories across Asia and are looking at further deepening our foothold in the region, in particular, giving greater focus on growth in the highly promising North Asian market.

“With that, our needs have evolved: We have regionalised our resources and redeployed some of our strategic personnel, including former group CFO Chong Liong to focus solely on his role as chief operating officer, North Asia of Asia Capital Re. Sergei’s appointment is therefore most timely. His vast experience in financial management within the insurance industry will be of immense value to ACR as the group continues to grow.”

Korol said: “ACR is a dynamic regional company that has shown strong financial stability rooted in its business vision and partner relationships and has potential for a lot more growth. I am excited to be able to support the ACR group as it continues to serve Asia. I look forward to working with my colleagues to contribute towards fully realising ACR’s vision of being an industry leader in Asia.”