FWD Group
Parent Pacific Century Group | | |
Website | fwd |
---|
FWD Group is a multinational
History
2013-18
2019-23
In June 2019, FWD Group purchased
In March 2020,
In 2022, FWD Group's Value of New Business reached US$823 million, up 29% compared to 2021, and it's segmental adjusted operating profit before tax was US$334 million, representing an 83% increase over the previous year.[31][32][11]
FWD Group has 6,100 employees and $63 billion in assets under management, and as of 2023 approximately 10 million customers across 10 markets.[14][1]
In February 2023, FWD Group announced an investment in Gibraltar BSN Life Berhad (Gibraltar BSN) to enter the Malaysian life insurance market. Together with other investors, FWD Group will acquire 70% stake from The Prudential Insurance Company of America, the wholly owned subsidiary of US-based NYSE-listed Prudential Financial, Inc. (PFI).[33]
On March 13, 2023, FWD refiled for a Hong Kong IPO with total private placement amounting to US$1.825 billion since December 2021.[34]
See also
References
- ^ a b c d e f "Hong Kong tycoon Richard Li’s FWD to raise up to $3bn in US IPO"; FT
- ^ "Our Team;" FWD Group
- ^ a b c "Upstart Hong Kong insurer FWD seeks a 'pan-Asian' reach". Nikkei Asia. 28 December 2017.
- ^ a b "Hong Kong Insurer FWD Group Eyes Singapore Listing". Insurance Journal. July 31, 2018.
- ^ a b Soon, Stella (September 20, 2019). "Asian insurer FWD is expanding aggressively in Asia". CNBC.
- ^ a b c "Richard Li's FWD acquires life insurance unit of Thailand's Siam Commercial Bank". South China Morning Post. July 1, 2019.
- ^ a b c d e "AIG Agrees to Sell Japan Life Business to Hong Kong's FWD Group". Carrier Management. 15 November 2016. Retrieved 2021-03-04.
- ^ a b Hermesauto (4 December 2019). "FWD to pull out of group medical insurance business in Singapore". The Straits Times.
- ^ a b c "Richard Li's FWD Group acquiring an Asian insurance empire". www.ft.com. 28 June 2019.
- ^ a b c d e "Richard Li's FWD Plans Up to $3 Billion Hong Kong IPO - Bloomberg". 23 September 2020.
- ^ a b "Billionaire Li's FWD Filing HK IPO Application Again, Sources Say". Wall Street Journal. March 13, 2023.
- ^ "Billionaire Richard Li's FWD Files for Hong Kong IPO". Wall Street Journal. February 28, 2022.
- ^ "Pacific Century sells FWD stake to reinsurer". South China Morning Post. 17 October 2013. Retrieved 2021-03-04.
- ^ a b "FWD's Huynh Thanh Phong - 'You have to find the right way to connect'"; FT
- ^ a b c "FWD Group 'close to acquiring Vietcombank' for $400m". www.internationalinvestment.net. 2019-09-24. Retrieved 2021-03-04.
- ^ Daga, Sumeet Chatterjee, Anshuman (2017-04-19). "Thailand's Siam Commercial in exclusive talks with FWD for $3 billion insurance sale: sources". Reuters. Retrieved 2021-03-04.
{{cite news}}
: CS1 maint: multiple names: authors list (link) - ^ "Why FWD does not act like a traditional insurance brand and sponsors music festivals". The Drum. 23 November 2017.
- ^ a b "FWD to bag CBA's Indonesia unit". The Jakarta Post. 24 October 2018. Retrieved 2021-03-04.
- ^ "FWD Life rebrands business as acquisition completed". The Jakarta Post. 8 June 2020.
- ^ Ching, Ooi Tee (2019-03-26). "Salim Majid Zain now heads FWD Takaful | New Straits Times". NST Online. Retrieved 2021-06-28.
- ^ "SCB, FWD Group set to reach life insurance deal". Bangkok Post. 30 March 2019.
- ^ "Brand launch for Takaful provider | The Star". www.thestar.com.my. 29 July 2019.
- ^ Vu, Anshuman Daga, Khanh (12 November 2019). "FWD in insurance distribution deal with Vietcombank bank, buys venture". Reuters. Retrieved 2021-03-04.
{{cite news}}
: CS1 maint: multiple names: authors list (link) - ^ Hermesauto (4 December 2019). "FWD to pull out of group medical insurance business in Singapore". The Straits Times. Retrieved 2021-03-04.
- ^ "FWD Singapore to drop group medical insurance". www.internationalinvestment.net. 2019-12-05. Retrieved 2021-03-04.
- ^ "Prudential signs $753 mn deal with FWD Group". mint. 2020-03-19. Retrieved 2021-03-04.
- ^ "Vietnam: FWD group strengthens life business". Asia Insurance Review. 28 April 2020. Retrieved 2021-03-04.
- ^ "FWD Insurance enhances coverage with Covid-19 Assist – The Manila Times". www.manilatimes.net. 4 May 2020. Retrieved 2021-03-04.
- ^ "FWD to buy stake in Indonesian life insurer for about US$300 million". South China Morning Post. 2020-06-23. Retrieved 2021-03-04.
- ^ "FWD Insurance buys minority stake in financial advisory company". www.spglobal.com. 9 September 2020. Retrieved 2021-03-04.
- ^ "Hong Kong Tycoon's FWD Nears Filing for $1 Billion IPO". Bloomberg. February 27, 2022.
- ^ "Tycoon Richard Li Insurer FWD Files for $2 Billion U.S. IPO"; Bloomberg
- ^ "FWD enters Malaysian life insurance with Gibraltar BSN investment". Insurance Business. February 21, 2023.
- ^ "Life Insurer FWD Refiles Hong Kong Listing Application"; AM Best