Front Street Re has announced the appointment of Edison Fong (pictured) as its new chief executive officer.
Lexasure Financial Group CEO and Front Street Re president Ian Lim congratulated Fong on his appointment following the firm’s extensive search for a candidate.
“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,” said Lim.
“Lexasure is committed to the continued growth of Front Street Re, and I could not be more pleased to be announcing Edison’s appointment,” he added.
Fong received his Bachelor of Mathematics degree with a double major in actuarial science, finance, and statistics with a minor in economics at the University of Waterloo. He began his extensive career in actuary when he joined Manulife Financial. He continued growing his knowledge about the industry through experience in firms such as Foresters, Towers Watson, Munich Re, and Pacific Life Re.
Before he joined Front Street Re, he was a director at reinsurance company Converge Re, which focuses on asset-intensive reinsurance in the markets of life and annuities in the US. He also spent six years in Manulife Financial in Toronto and held various leadership roles.
Fong is also a member of the American Academy of Actuaries, a fellow of the Society of Actuaries, a fellow of the Canadian Institute of Actuaries, a chartered enterprise risk analyst, and a chartered financial analyst charter holder.
Speaking on his appointment, Fong expressed his excitement in joining the firm and pointed out the things that needed to be improved upon.
“There is clearly a need for innovative and customized reinsurance solutions across business lines serviced by growth-constrained small- and mid-sized insurers with limited access to technology and capital,” said Fong.
“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,” he added.
Front Street Re is an international insurtech and reinsurance company focusing on annuity, life, and general reinsurance solutions. It is also Lexasure Financial Group Limited’s operating subsidiary.
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