FWD Management Holdings Limited, the Hong Kong registered business of FWD Group, announced it has completed the acquisition of MetLife Limited and Metropolitan Life Insurance Company of Hong Kong Limited from MetLife, Inc. (NYSE: MET).
The acquisition further strengthens FWD's presence, market share, and distribution synergies in the Hong Kong insurance market, as well as underlines the company's continued confidence in the long-term growth potential of Hong Kong.
FWD will be renaming and rebranding the newly acquired businesses in the next few months. At the same time, MetLife Hong Kong will continue to operate through all its existing channels across its businesses. All existing MetLife Hong Kong policies will continue to be honoured by FWD following the change in ownership.
FWD looks forward to officially welcoming the employees, agents, business partners and customers of MetLife Limited and Metropolitan Life Insurance Company of Hong Kong Limited (collectively "MetLife Hong Kong") in due course.
Huynh Thanh Phong, FWD Group Chief Executive Officer said, "This acquisition is a firm testament to our confidence in the long-term growth and potential of the Hong Kong insurance market and enhances our reach and platform in our flagship market. I'm very proud of our team who have worked tirelessly to successfully complete yet another landmark acquisition in our journey to become a leading pan-Asian insurer and look forward to welcoming our newest employees, agents, partners and customers from MetLife Hong Kong."