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King & Wood Mallesons’ Hong Kong partner Ronald Arculli has been appointed as the first chairman of the FWD Group, the insurance unit of Pacific Century Group owned by Hong Kong tycoon Richard Li.
The chairman role is a non-executive member of the board and Arculli will continue to be a partner of King & Wood Mallesons’ Hong Kong office. A highly respected figure of Hong Kong’s business community, Arculli also previously served as the chairman of the Hong Kong Exchanges and Clearing and the chairman of the Hong Kong Jockey Club.
Arculli is a solicitor qualifed in Hong Kong and England and Wales. He founded Hong Kong firm Arculli, Fong & Ng, which merged with legacy Chinese firm King & Wood in 2009 (27 July 2009) and now is part of King & Wood Mallesons (KWM).
The FWD Group was formed following Pacific Century Group’s acquisition of the Southeast Asian insurance operations of ING for $2.1bn in 2012. Freshfields Bruckhaus Deringer advised Pacific Century Group while Allen & Overy acted for ING in this transaction.
Earlier this month, Swiss Re, advised by Slaughter and May, invested $425m in FWD Group.
Pacific Century Group Chairman Richard Li said: “This is an exciting growth period for Asia’s insurance industry, and I am confident that Mr Arculli will provide great insight and counsel for the business as we continue our journey to becoming one of the leading insurance companies in the pan-Asia region.”