Hong Kong Tycoon Richard Li pays courtesy call on Aquino

MANILA Mabuhay) – President Benigno S. Aquino III received Richard Li Tzar Kai, founder and chairman of the Pacific Century Group (PCG), at the Music Room of Malacañang Palace on Wednesday.

During his courtesy call with the President, Li was accompanied by top officials of his insurance business, the FWD Group – Chairman Ronald Arculli; Chief Executive Officer Huynh Thanh Phong; and Peter Karl Grimes, President and CEO of FWD Life Insurance Corporation, the Philippine arm of the FWD Group.

While waiting for the President’s arrival, Li’s group had a brief conversation with Finance Secretary Cesar Purisima, Trade Secretary Gregory Domingo, and Insurance Commissioner Emmanuel Dooc.

The FWD, the insurance business arm of Pacific Century Group, launched its business operations in the Philippines in 2014.

It was the first foreign life insurer in nearly a decade to enter the Philippine market and the first to be granted a license under the new Insurance Code of the Philippines.

Aside from the Philippines, FWD also operates in Hong Kong, Macau, and Thailand. It also has brand presence in Indonesia.

In its website, FWD said its focus is to “leverage technology to enhance customer experience, deliver innovative products, and invest in talent to create a leading pan-Asian life insurer”.

The group offers two insurance products: All Set, a single pay insurance plan; and Set for Life, a regular pay insurance plan with optional accidental death, hospital cash, critical illnesses and waiver of premium benefits.

It is currently developing other products to provide investment, traditional savings, health and protection benefits to its plan holders. (MNS)