Insurer FWD mulls Hong Kong IPO

Strategic acquisitions in the past five years have strengthened FWD’s foothold.

Bloomberg reports that billionaire Richard Li is said to be mulling a potential IPO of his insurance company FWD Group in Hong Kong after five years of beefing up the business through strategic acquisitions.

Also read: Hong Kong could break into top three IPO destinations by year end

FWD has reportedly held preliminary discussions with investment banks considering a possible IPO as part of the company’s growth strategy.

Li, the son of Hong Kong’s richest man Li Ka-Shing, formed FWD after buying ING Groep NV’s insurance and pension arms in Hong Kong, Macau and Thailand in 2013.

Throughout the years, Li has steadily built the company with the purchase of American International Group Inc.’s Japanese life insurance unit last year marking the company’s latest acquisition, following earlier buys fueling FWD’s expansion plans to Singapore and Vietnam.

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