FWD GROUP HOLDINGS LIMITED
Note: Both Reuters and The Wall Street Journal estimate that FWD Group Holdings’ IPO could raise $2 billion to $3 billion. (FWD Group Holdings is incorporated in the Cayman Islands)
Our vision is changing the way people feel about insurance. We are a fast-growing and leading Pan-Asian life insurer with a customer-led, legacy-light and digital-first model.
We were founded in 2013 by our founder, Mr. Richard Li, with the ambition of forging our own path as a next-generation insurer in Asia. We set out to transform insurance with technology to disrupt the traditional mindset, behaviors and operations of the insurance industry. We developed our platform from the early days of our operation with minimal legacy. That advantage, combined with our speed of execution, has allowed us to quickly capture market opportunities and stay ahead of the industry average in terms of certain key performance indicators, such as Annualized Premium Equivalent (“APE”) growth rates in the markets in which we operate. We have built our leadership team and culture to align with this vision.
We have grown from three markets at inception to 10 markets, including Hong Kong (and Macau), Thailand (and Cambodia), Japan, the Philippines, Indonesia, Singapore, Vietnam and Malaysia. This provides us access to some of the fastest-growing insurance markets in the world with an expanding but underinsured population. Our Southeast Asia markets contributed over 40% of our Value of New Business (“VNB”) in 2020. We achieved 5.5 times growth of our APE in 2020 since our first full year of operations in 2014, growing from US$309 million in 2014 to US$1,692 million in 2020, and our VNB grew 5.0 times over the same period, increasing from US$123 million in 2014 to US$617 million in 2020.
*Note: We recorded total revenue of US$9,487 million (US$9.49 billion) and a net loss of US$252 million in 2020.
**Note: In the chart below, the revenue figure is for the last 12 months that ended June 30, 2021, and the net income figure is the net profit attributable to shareholders for the last 12 months that ended June 30, 2021, according to figures in the prospectus.
|Industry:||Insurance agents & brokers|
|Address||13/F, 14 Taikoo Wan Road, Taikoo Shing, Hong Kong SAR|
|Phone Number||+852 2850 3823|
|View Prospectus:||FWD GROUP HOLDINGS LIMITED|
|Revenues||$11567.0 mil (last 12 months)|
|Net Income||$152.0 mil (last 12 months)|
|Price range||$0.00 - $0.00|
|Est. $ Volume||$100.0 mil|
|Manager / Joint Managers||Morgan Stanley/ Goldman Sachs (Asia)/ J.P. Morgan/ HSBC/ CMB International|
|Expected To Trade:|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|