Futuwei Group is a rapidly growing pan-Asian life insurance company.
According to the Intelligent Finance and Economics APP, Li Zekai's FWD Group is reported to have restarted its listing plan in Hong Kong. The IPO valuation target may be as high as $9 billion (approximately HK$70.2 billion), depending on market conditions, trading schedule, and issuance scale have not yet been determined. A spokesperson for FWD said that FWD does not currently have a valid application for listing, and no decision has been made at this stage to reapply, but we will continue to closely monitor the development and situation of the capital markets.
FWD Group submitted its IPO application to the Hong Kong Stock Exchange for the third time in March last year, but reports suggest that it abandoned its goal of listing within the year due to market volatility and is not expected to resubmit its listing application in the short term.
According to data, FWD Group is a rapidly growing pan-Asian life insurance company that offers customers participating life insurance, non-participating life insurance, medical insurance, investment-linked life insurance, group insurance, and other life insurance products. The company's business covers ten markets including Hong Kong (and Macau), Thailand (and Cambodia), Japan, the Philippines, Indonesia, Singapore, Vietnam, and Malaysia.
On May 29th, FWD Group announced its first quarter performance as of March 31, 2024, showing steady performance. The new business value in the first quarter increased by 17% to $0.215 billion year-on-year, and new business sales increased by 10% to $0.46 billion year-on-year.