by Amruth Sundarkumar | Feb 20, 2023 | Corporates, Hong Kong
FWD has agreed to take a majority 70% stake in Malaysian Insurer Gibraltar BSN Life, a subsidiary of Prudential Financial. The transaction will help FWD make a push into the Malaysian life insurance market and is likely to get completed by the second quarter. The size...
by Amruth Sundarkumar | Sep 15, 2022 | Corporates, Hong Kong
Insurance company FWD Group Holdings has refiled an application for its Hong Kong IPO. In early May, FWD received approval for its Hong Kong IPO but the company postponed it due to market volatility. The company is looking to raise $1bn in an IPO in Q1 next year, but...
by Amruth Sundarkumar | Sep 14, 2022 | Corporates, Hong Kong
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...
by Amruth Sundarkumar | Jun 1, 2022 | Corporates, Financial Institution Bonds, Hong Kong
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...
by Amruth Sundarkumar | May 17, 2022 | Financial Institution Bonds
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...
