Insurer FWD Singapore has entered the high-net-worth (HNW) insurance market with the launch of its first HNW product for accredited investors, and named its first chief HNW officer.

The move into the HNW insurance space is the next step, the insurer says, in its evolution to provide a full range of life and general insurance solutions, including international health insurance.

The expansion into this market enables the company to provide insurance solutions to private bank clients through international brokers.

As well, the company plans to partner with asset manager Apollo to launch its first HNW plan for accredited investors.

To lead its entry into the space, FWD Singapore has appointed Jason Tsui as its new chief HNW officer and has set up a dedicated HNW team to serve this market.

Tsui brings a broad range of experience in the wealth and estate planning industry. He previously served as managing director at the Asian brokerage arm of a global wealth solutions provider in Singapore and Hong Kong, where he was responsible for developing their private placement life insurance business for both private and institutional clients.

In his current role at the insurer, Tsui spearheads the development and distribution of insurance solutions for HNW and ultra-HNW clients and families in Asia and beyond.

Adrian Vincent, CEO of FWD Singapore, says: “Single family offices based in Singapore have grown significantly in recent years and so too have their needs for wealth preservation, succession planning and return on investment.”