Английская Википедия:FWD Group
Шаблон:Short description Шаблон:Infobox company
FWD Group is a multinational insurance company based in Hong Kong.[1][2][3][4] Founded in 2013[5] as the insurance arm of Pacific Century Group, FWD Group sells life and medical insurance, general insurance and employee benefits[6] in Asia.[7] The company had USD$50.9 billion in assets under management in 2020[8] and in 2021 was managing US$63 billion in assets. On March 13, 2023, FWD Group refiled its Main Board listing application with The Stock Exchange of Hong Kong.[9] The initial filing was made on February 28, 2022.[10] In 2023, FWD celebrated its 10th anniversary, and currently operates in Hong Kong, Japan, Macau, Singapore, Thailand, Philippines, Indonesia, Vietnam, Malaysia and Cambodia.[11]
History
2013-18
Richard Li of Pacific Century Group formed FWD Group in 2013[5] after purchasing ING Group’s insurance and pension units in Hong Kong, Macau and Thailand for US$2.1 billion.[2][7] Swiss Re bought a 12.3% stake in FWD Group in 2013[8] for $425 million.[12] Huynh Thanh Phong joined as CEO in 2013.[13] The company then expanded into the Philippines in 2014 and Indonesia in 2015. Expanding into three more countries in 2016,[1][5] that year FWD Group acquired Shenton Insurance in Singapore,[6] also purchasing a unit from Great Eastern Holdings Ltd. in Vietnam[5] for $35 million.[14] In late 2016, FWD agreed to buy AIG's Fuji Life Insurance Co. in Japan.[5] By April 2017, FWD had[15] $24.4 billion in assets under management[1] and sponsored the Clockenflap music festival.[16] In 2018 FWD agreed to purchase an Indonesian life insurance venture, PT Commonwealth Life, from the Commonwealth Bank of Australia for $300 million.[17] When the acquisition completed in 2020, PT Commonwealth Life was rebranded PT FWD Life Indonesia.[18] FWD Group also purchased HSBC’s stake in a Malaysian insurance joint venture in 2018,[17] acquiring 49% of HSBC Amanah Takaful (Malaysia),[14] now renamed FWD Takaful (Malaysia).[19]
2019-23
In June 2019, FWD Group purchased MetLife's business in Hong Kong[4][8] reportedly for around $400 million.[7] That month, FWD Group agreed to buy SCB Life Assurance, the life insurance business of Thailand’s Siam Commercial Bank, for $3 billion, "reflecting the largest insurance deal in Southeast Asia in terms of value."[4][20] FWD also launched its Malaysian takaful (Islamic insurance) market at the end of July 2019.[21] By August 2019, FWD had applied for a license to enter a joint venture in China. Having spent $6 billion on mergers and acquisitions since its founding,[3] in November 2019, FWD agreed to acquire Vietcombank-Cardif Life Insurance, a joint venture between Vietcombank and BNP Paribas Cardif,[22] for $400 million.[14] FWD announced in December 2019 it would exit its group medical insurance business in Singapore by December 2020.[23][24]
In March 2020, Prudential acquired a bancassurance partnership in Thailand from FWD Group for $753 million.[25] The following month, FWD Vietnam Life became the largest life insurer in Vietnam by charter capital.[26] In April 2020 FWD Group launched a Covid-19 Charity Drive.[27] In June 2020, FWD Group purchased a minority stake in the life insurance arm of PT Bank Rakyat Indonesia (BRI), PT Asuransi BRI Life, for a reported $300 million.[28] By September 2020, press reported that FWD Group was considering an initial public offering in Hong Kong.[8] That month, FWD Insurance purchased a stake in IPP Financial Advisers.[29] In 2020, FWD Group had $50.9 billion in assets under management and 7.5 million customers, with 6,200 employees in Asia.[8]
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.[30][31][9]
FWD Group has 6,100 employees and $63 billion in assets under management, and as of 2023 approximately 10 million customers across 10 markets.[13][11]
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).[32]
On March 13, 2023, FWD refiled for a Hong Kong IPO with total private placement amounting to US$1.825 billion since December 2021.[33]
See also
References
External links
Шаблон:PCCW Шаблон:Insurance industry in China
- ↑ 1,0 1,1 1,2 Шаблон:Cite web
- ↑ 2,0 2,1 Шаблон:Cite web
- ↑ 3,0 3,1 Шаблон:Cite web
- ↑ 4,0 4,1 4,2 Шаблон:Cite web
- ↑ 5,0 5,1 5,2 5,3 5,4 Шаблон:Cite web
- ↑ 6,0 6,1 Шаблон:Cite news
- ↑ 7,0 7,1 7,2 Шаблон:Cite web
- ↑ 8,0 8,1 8,2 8,3 8,4 Шаблон:Cite news
- ↑ 9,0 9,1 Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ 11,0 11,1 "Hong Kong tycoon Richard Li’s FWD to raise up to $3bn in US IPO"; FT
- ↑ Шаблон:Cite web
- ↑ 13,0 13,1 "FWD's Huynh Thanh Phong - 'You have to find the right way to connect'"; FT
- ↑ 14,0 14,1 14,2 Шаблон:Cite web
- ↑ Шаблон:Cite news
- ↑ Шаблон:Cite web
- ↑ 17,0 17,1 Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite news
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite news
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ "Tycoon Richard Li Insurer FWD Files for $2 Billion U.S. IPO"; Bloomberg
- ↑ Шаблон:Cite web
- ↑ "Life Insurer FWD Refiles Hong Kong Listing Application"; AM Best
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