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02 Jul 2019, Natalia Yanakieva, Head of Industry Research, EMIS

FWD to buy MetLife Hong Kong

FWD Group will buy MetLife Hong Kong for an undisclosed value in the latest move of what has turned into a massive expansion in Asia. Hong Kong is an attractive insurance market for buyers because of the high demand for Hong Kong insurance products and due to their popularity among mainland Chinese customers who see them as offshore investments and a safeguard against yuan volatility. FWD has been carrying out expansion in Asia with acquisitions in Indonesia, Japan, Singapore and Vietnam, and are also in talks with Siam Commercial Bank to buy its life-insurance business.

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Original source: Contify Insurance News