FWD Management Holdings, the Hong Kong registered business of FWD Group, has completed the acquisition of MetLife Limited and Metropolitan Life Insurance Company of Hong Kong (collectively called “MetLife Hong Kong”) from MetLife, Inc.
The acquisition strengthens FWD’s presence, market share, and distribution synergies in the Hong Kong insurance market, as well as underlines the company’s continued confidence in the long-term growth potential of Hong Kong, the company says in a statement.
FWD will be renaming and rebranding the newly acquired businesses in the next few months. At the same time, MetLife Hong Kong will continue to operate through all its existing channels across its businesses. All existing MetLife Hong Kong policies will continue to be honoured by FWD following the change in ownership.
FWD Group operates in Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan and Malaysia, offering life and medical insurance, general insurance, employee benefits, Shariah and family takaful products across a number of its markets.Established in Asia in 2013, FWD is the insurance business of investment group, Pacific Century Group.
New York-listed MetLife, Inc, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world.