Cambodia Investment Review
Cambodia’s largest general insurer and fast-growing life insurer, Forte, has announced that Mr Prou Sythan has been appointed the new CEO of Forte Life Assurance as of 2 May 2023.
Mr Prou Sythan joins Forte Life Assurance with over a decade of experience in the insurance industry. He will be taking over from Mr Alex Lee, Forte Life Assurance’s previous CEO, who will be retiring after leading the business since its establishment in 2019.
Mr Sythan is among the few Cambodian senior leaders who pioneered life insurance in 2012 when he joined Manulife Cambodia as the Chief Legal & Compliance Officer and later becoming the Chief Partnership Distribution Officer.
Experience in the industry and key leadership roles
He is a familiar face in the financial services community for his active involvement in giving sensible input to new regulations and bringing public awareness towards insurance. He has been steadfastly committed to the growth of the insurance industry, serving as Chairman of the Education Committee for the Insurance Association of Cambodia.
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“With his vast experience in the industry and key leadership roles along with his proven track record in growing businesses, we feel that Mr Prou Sythan is the perfect fit for Forte Life Assurance as its new CEO. His unique blend of distribution, corporate, industry leadership and law experience will help not only Forte Life Assurance grow, but the sector as a whole,” said Mr Youk Chamroeunrith, Group CEO of Forte.
Mr Sythan holds an Executive Master of Laws (Executive LLM) from King’s College London, UK. He also holds a Master of International and Business Law from Yokohama National University, Japan. He was awarded the Young Leader of the Year award from Asia Insurance Review and 40 Under 40 for Asia’s Outstanding Legal Professionals from Asian Legal Business. In 2020, he received a Royal Order of the Kingdom (Mohasena – Grand Officer) from the King of Cambodia.
Earlier this year, starting from 1 January 2023, Mr Suy Channtharong (Tharong) had been appointed as CEO of Forte General Insurance. He started his career with Forte in 2005 and rose up the ranks in the Underwriting department, gaining expertise in sales, underwriting, reinsurance management, channel distribution management such as agents, brokers and banks, as well as other related tasks on risk control, loss control and more.
Next generation of Cambodians as key leaders
“Mr Suy Channtharong has been with Forte for nearly two decades. We are extremely proud to have such a committed and talented individual as a part of the Forte family. With his passion and dedication, we believe Tharong will lead Forte General Insurance to an even stronger position,” said Mr Youk Chamroeunrith.
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Mr Tharong holds a Master of Finance (MBA) from Charles Sturt University, Australia. He also has an Associateship (AMII) by Malaysian Insurance Institute and an Advanced Diploma in Insurance (ACII) from the Chartered Insurance Institute, UK. He was awarded Winner – Young ASEAN Insurance Manager Award in 2021 and appointed Chairman of the 13th ASEAN Insurance Congress in Kuala Lumpur, Malaysia.
Mr Charles Cheo, Group Executive Chairman of Forte said, “Forte is incredibly proud and honored to have the next generation of Cambodians represented as our key leaders for both Forte General Insurance and Forte Life Assurance. Forte has always had its roots in Cambodia and by appointing Mr Prou Sythan and Mr Suy Channtharong, it shows that Forte is a company which values homegrown talent who understands local consumers at heart in order to better serve the community. I would like to congratulate both of them and look forward to working together to steer Forte to success for decades to come.”
Since its founding in 1999, Forte has developed the largest market share in Cambodia for general insurance, expanding into life insurance in 2019. It has also achieved regional recognition as Domestic Insurer of the Year by Insurance Asia Awards twice, and Best General Insurance Company in Cambodia by Global Banking and Finance Review for 9 years.
About Forte Insurance
Forte is leading the growth of the insurance industry in emerging Southeast Asia with its vision to protect and empower everyone in the region for a better future – one person, one business at a time.
Founded in Cambodia in 1999, Forte has remained true to its mission to provide innovative customer-focused products and services, build capacity in people, and contribute to the progress of the insurance industry in the markets they operate in. Offering both general and life insurance in Cambodia, and general insurance in Laos, Forte is the preferred partner of multinational insurers.
Forte is also an employer of choice which offers a collaborative workplace that rewards achievement and provides opportunities for employees to grow through professional education and development.
Find out more: www.forteinsurance.com