May 2, 2016

FWD acquires controlling stake in Singapore's Shenton Insurance and aims for an agressive push into Singapore Life/GI

FWD Group, the insurance arm of Asia-based Pacific Century Group, on Thursday said it has acquired a 90% stake in group medical insurance provider Shenton Insurance Pte Ltd from Parkway Holdings Limited.

Parkway Holdings Limited is an indirect wholly-owned subsidiary of IHH Healthcare Berhad, which said in a filing to the local bourse that the deal was for about S$28.4 million.

Full text: http://www.businesstimes.com.sg/companies-markets/pacific-century-groups-insurance-arm-fwd-acquires-stake-in-shenton-insurance

FWD is rumored to be aiming to acquire General and Life insurance licenses for Singapore and aggressively push into the direct/digital insurance space.

Abhishek Bhatia has been appointed FWD's Singapore CEO, as stated on his LinkedIn profile and comes previously from Pru Poland venture.

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