Billionaire-Backed FWD Group to Buy MetLife's Hong Kong Insurance Unit
June 28 2019 - 3:01AM
Dow Jones News
By Saurabh Chaturvedi
Insurer FWD Group, backed by billionaire Richard Li, has agreed
to acquire MetLife Inc.'s (MET) Hong Kong insurance business for an
undisclosed amount.
The Hong Kong registered business of FWD Group will buy MetLife
Ltd. and Metropolitan Life Insurance Company of Hong Kong
Ltd.--collectively known as MetLife Hong Kong--from MetLife Inc.,
it said a press statement Friday.
The company didn't disclose the terms and value of the deal, and
said the transaction is subject to regulatory approvals.
"The acquisition of MetLife Hong Kong will further increase
FWD's market share in Hong Kong," it said.
Write to Saurabh Chaturvedi at saurabh.chaturvedi@wsj.com
(END) Dow Jones Newswires
June 28, 2019 02:46 ET (06:46 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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