FWD completes acquisition of 49% stake in HSBC Amanah Takaful (Malaysia)

Acquisition marks FWD’s ninth market entry and it intends to rename the business FWD Takaful Berhad

Kuala Lumpur, 25 March 2019 – FWD Group (“FWD”) today announced that it has successfully completed the acquisition of HSBC Insurance (Asia Pacific) Holdings Ltd.’s stake in HSBC Amanah Takaful (Malaysia) Berhad.

FWD is now the largest shareholder in the joint venture and intends to rename the business FWD Takaful Berhad (“FWD Takaful”). All existing takaful certificates issued under HSBC Amanah Takaful will continue to be honoured by FWD Takaful.

“Malaysia represents another landmark market entry and strategic milestone in our journey,” said Huynh Thanh Phong, FWD Group Chief Executive Officer. “We see huge potential for growth in Malaysia and I’m excited to work together with our new team in Malaysia to grow our business and footprint through long-term investment and implementation of our customer-led strategy.”

“I’m honoured to be leading FWD into an exciting new chapter in its history in Malaysia,” said Salim Majid Zain, FWD Takaful Chief Executive Officer. “FWD is looking at all development opportunities here and is committed to achieving new milestones and bringing fresh experiences to our Malaysian customers.”

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About FWD Group

FWD Group spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan and Malaysia, offering life and medical insurance, general insurance, employee benefits, Shariah and Family Takaful products across a number of its markets.

FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance.

Established in Asia in 2013, FWD is the insurance business of investment group, Pacific Century Group.

For more information please visit www.fwd.com

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