FWD Reports Interim Results
Hong Kong-based insurer FWD reported some key half-yearly numbers yesterday. It saw an annualized premium equivalent (APE) of $732mn, 2.5% YoY lower for 1H 2022. Value of New Business (VNB) was at $405mn, a 17% YoY increase, with growth across all market segments. Its...
FWD Postpones Planned $1bn HK IPO due to Volatility
Insurance company FWD postponed its planned $1bn Hong Kong IPO due to market volatility. In early May, FWD received approval for its Hong Kong listing but decided not to proceed with it at the moment. The company will explore the listing plan before the end of 2022 if...
FWD To Skip Redeeming Zero-Coupon Perp on First Call Date
FWD will not be redeeming its $750mn zero-coupon Perp on its first call date of June 15, it said. This would mean that holders will start receiving distributions due to the coupon reset present on the note. The new coupon rate would be set at the US 5Y Treasury rate...
