Hong Kong’s insurer FWD Group Holdings Limited has on Monday commenced its first day of trading on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX) under the stock code 1828.
The firm’s Founder and Pacific Century Group Chairman Richard Li Tzar Kai said in a statement that the firm is an international team of financial professionals focused on the fastest-growing insurance market in the world – Asia.
“Today’s listing is an important milestone for our customers, our partners and our teams across Asia, and highlights Hong Kong’s continued strength as a good listing destination,
“We are proud to be serving 30 million customers and their families across Asia and we are looking forward to taking care of more of them – and more importantly, to their satisfaction,” he said.
Meanwhile, Professor Frederick Ma, GBS, JP, FWD Group Chairman of the Board of Directors, said the firm’s successful listing on the HKEX marks a defining milestone, as it welcomes new investors to join in the FWD Group journey.
“The significant response to our initial public offering is a testament to the strong appeal and proven strategy of our business,
“It’s also a recognition of the vast opportunities for Hong Kong businesses to serve the unique needs of customers across Asia – bridging protection gaps, meeting rising demand from the region’s growing middle classes and blazing new trails in digital innovation,” he added.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said the firm is excited to continue changing the way people feel about insurance as a public company listed here, in Hong Kong, where the FWD story first began in 2013.
“I would like to pay tribute to the enduring trust of our customers, the dedication of our agents, partners and investors, and the passion of our employees who have brought our customer-led and tech-enabled model to life,
“We look forward to building upon our solid growth momentum to deliver long-term sustainable value for all our stakeholders,” he added.
According to the statement, the company intends to use the net proceeds of the global offering to further enhance its capital position and financial flexibility, which may involve reducing debt, to support growth and opportunities to further penetrate customer and channel reach across its operations, including the enhancement of its digital capabilities and strategy.
FWD is a pan-Asian life and health insurance business that serves approximately 30 million customers across ten markets, including BRI Life in Indonesia.
The firm’s customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.
Established in 2013, the company operates in some of the fastest-growing insurance markets in the world.