FWD Group, the Swiss Re backed insurance business of Pacific Century Group (PCG), is preparing for a potential initial public offering (IPO) after five years of expansion through acquisitions, according to sources at Bloomberg.
The company has reportedly held preliminary discussions with investment banks about a possible IPO in the next two years, with Hong Kong under consideration as a potential listing venue.
However, sources stressed that deliberations were at an early stage and that there was no guarantee they would lead to a transaction, with the timing of any listing contingent on changing market conditions.
FWD recently announced that it was planning to establish a joint life insurance venture in Shanghai, as China begins to open up its financial sector to more foreign investment.
The company manages more than $26.6 billion of assets and serves 2.7 million customers across eight Asian markets through a team of 4,100 employees.
Thailand is currently FWD’s biggest market in terms of customers, followed by its Hong Kong and Macau business.
