FWD Group (“FWD”) today announced the appointment of David Korunić as the new Chief Executive Officer for SCB Life Assurance Public Company Limited (“SCBLIFE”). The announcement follows the completion of FWD’s acquisition of SCBLIFE from The Siam Commercial Bank Public Company Limited (“SCB”).
As CEO, David will be responsible for leading, overseeing and growing the SCBLIFE business in Thailand. At the same time, David has also been appointed as an Executive Director of the Board of SCBLIFE. David will report directly to FWD Group Chief Executive Officer Huynh Thanh Phong.
He succeeds Sathian Leowarin who will remain temporarily as Senior Advisor to help ensure a smooth transition and handover before returning to SCB.
“We’re thrilled to welcome David on board, especially in this exciting new chapter of our journey where we have a tremendous opportunity to grow our business in Thailand with the acquisition of SCBLIFE,” Phong said. “He is a seasoned industry veteran with unrivalled career experience and success in Thailand and I have no doubt he is the perfect leader to spearhead SCBLIFE and bring our Thai business to the next level.
“I’d also like to thank Khun Sathian for his hard work and dedication in leading SCBLIFE and helping us to successfully complete the acquisition and transition,” Phong added.
David has more than 30 years’ experience in the insurance industry and most recently was the Country CEO for AXA Thailand. During his tenure, he built the business to become the third largest in Thailand (as measured by Annual Premium Equivalent) and has won numerous industry awards in the areas of Diversity and Inclusion and Corporate and Social Responsibility.
“This is a unique opportunity to build something fresh and new with a leading and established insurance business in Thailand,” said David. “Thailand is an exciting and dynamic market and there are significant opportunities within the insurance industry for us to continue challenging traditional practices, bring fresh experiences and product propositions to our customers and ultimately change the way people feel about insurance.”