Latest news with #HuynhThanhPhong
South China Morning Post
06-07-2025
- Business
- South China Morning Post
FWD plots next growth phase as Hong Kong IPO opens access to capital, CEO says
FWD Group, a regional insurer founded by Hong Kong billionaire Richard Li Tzar-kai, aims to use Hong Kong as a springboard to expand its business in the region after completing its HK$3.47 billion (US$442 million) fundraising in the city. The firm's initial public offering (IPO) will help improve its capital structure and serve a bigger pool of clients in the coming years as demand for insurance protection increases with wealth creation, according to CEO Huynh Thanh Phong. 'A successful IPO is a very important milestone for us, but it is not the end-game for us,' he said in an interview with the Post on Sunday. 'The IPO gives us flexibility in capital management. It supports our vision of building a pan-Asian business that is based in Hong Kong and serves customers across Asia.' FWD will make its trading debut in Hong Kong on Monday under the 1828 stock code. Huynh Thanh Phong, Group CEO and executive director at FWD, during an interview in Taikoo Shing on July 6, 2025. Photo: May Tse The insurer sold 91.3 million shares at HK$38 each, giving the company a market capitalisation of HK$48.3 billion. About 30 per cent of the IPO shares went to retail investors, tripling the initial allocation to meet excess demand. FWD has an option to sell a further 13.7 million shares through an overallotment to the IPO managers. The Hong Kong stock exchange's main board hosted 42 IPOs in the first six months of this year, which generated US$13.5 billion in proceeds, making it the busiest venue globally for first-time stock offerings.
Yahoo
27-06-2025
- Business
- Yahoo
FWD Group targets $442m in Hong Kong IPO
Insurer FWD Group, backed by billionaire Richard Li, has announced plans to raise HK$3.47bn through an initial public offering (IPO) in Hong Kong. According to a regulatory filing, the pan-Asian insurer will offer 91.3 million shares priced at HK$38 each, valuing the company at HK$48.298bn. Mubadala Capital, a subsidiary of Abu Dhabi's sovereign wealth fund, has committed to purchasing $150m worth of FWD shares in the IPO. Additionally, a subsidiary of Japanese life insurer T&D Holdings will acquire $100m of the stock, as outlined in the filings. FWD Group plans to use the net proceeds to strengthen its capital position, reduce debt and support operational growth, including enhancements to its digital infrastructure. Trading of FWD Group shares is scheduled to commence on 7 July 2025 under the stock code 1828, with shares traded in board lots of 100. Morgan Stanley Asia and Goldman Sachs (Asia) are acting as joint sponsors, joint global coordinators, joint bookrunners and joint lead managers for the offering. This marks FWD Group's third attempt at a public listing. A planned New York IPO in 2021, targeting $2–3bn, was abandoned due to delays in securing US regulatory approval, with scrutiny over the company's connections to mainland China. A subsequent Hong Kong IPO attempt in 2022 was deferred due to unstable global financial markets. FWD Group CEO and executive director Huynh Thanh Phong said: 'FWD Group has come a long way since we founded the company in Hong Kong in 2013, with a mission of moving the life insurance industry in a new direction – centred around the unique needs of customers, leveraging the latest technology. 'Today, across our ten markets in Asia, we are focused on sustainable growth and value creation by changing the way people feel about insurance for the better. We are doing this by designing compelling products and leveraging our tech-enabled distribution, as well as our distinctive brand, to meet the protection and savings needs of the region's rapidly expanding middle classes and high-net-worth individuals.' "FWD Group targets $442m in Hong Kong IPO " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
02-05-2025
- Business
- Associated Press
FWD Group Reports Exceptionally Strong First Quarter New Business Update
HONG KONG - May 2, 2025 ( NEWMEDIAWIRE ) - FWD Group Holdings Limited ('FWD Group' or 'FWD') today announced exceptionally strong first quarter new business highlights for the three months ended 31 March 2025. - New business contractual service margin ('New business CSM') growth of 55 percent year-on-year, to US$465 million. This adds to the company's overall CSM balance, which is released over time to its income statement under IFRS 17. - New business sales ('APE') growth of 46 percent, compared to the same corresponding period last year, to US$679 million. - Extended FWD Group's partnership with JA Worldwide in April for a further three years to help primary school students in Asia develop financial literacy, through the award-winning programme, JA SparktheDream. Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, 'FWD Group had a very strong start to the year, with our customer-led strategy driving some incredible new business results. We continued to respond to rapidly evolving customer needs for protection, health, and savings, with 10 new products introduced in the quarter, including FWD Private's first high-net-worth indexed universal life proposition.' 'FWD Group had a terrific quarter and maintained a strong balance sheet, however, we're keeping a close watch on the volatility in global financial markets and the uncertain global macro-economic outlook. Risk management is always a top priority and FWD Group is taking a prudent approach in preparing for a range of possible scenarios and outcomes,' added Huynh Thanh Phong. The growth in new business indicators was driven by most of the 10 markets FWD operates in. In Hong Kong SAR & Macau SAR, the particularly strong trajectory of growth in new business sales and new business CSM continued, reflecting demand from both local and Mainland Chinese visitor customers. In the Thailand & Cambodia reporting segment, new business indicators were impacted by weaker economic conditions as well as lower interest rates. Double digit growth in new business sales in the company's Emerging Markets segment was broad-based, while Japan posted steady new business indicators. About FWD Group FWD Group is a pan-Asian life and health insurance business that serves approximately 30 million customers across 10 markets, including BRI Life in Indonesia. FWD's customer-led and digitally 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 with a vision of changing the way people feel about insurance. For more information, please visit For media inquiries, please contact: [email protected] Source: FWD Group Holdings Limited ^The unaudited results are for the three months ended 31 March 2025 and are compared to the same period in 2024. Growth rates are represented on a constant exchange rate (CER) basis. New business sales are calculated on an annual premium equivalent (APE) basis, based on 100 percent annual premiums and 10 percent single premiums. New business CSM excludes the impact of one-off reinsurance contracts on in-force business. View the original release on
