FWD Group is pleased to announce that its Hong Kong operating entity, FWD Life Insurance Company (Bermuda) Limited (“FWD Life Hong Kong”), has been assigned the following international ratings by Standard & Poor’s Ratings Services (“S&P”), Moody’s Investors Service (“Moody’s”) and Fitch Ratings (“Fitch”).
Moody’s – "A3" insurance financial strength rating; and
Fitch – “A” insurer financial strength rating
This is the first time the three international rating agencies have assigned ratings to FWD Life Hong Kong, and is a testament to the strength of FWD’s Hong Kong life insurance business.
Mr David Wong, Chief Executive Officer of FWD Hong Kong & Macau said, “We are pleased with the strong ratings assigned by S&P, Moody's and Fitch, which reflect FWD Life Hong Kong’s robust financial strength, solid backing from our strong shareholders and stable outlook in the coming years. Our established distribution channels, products and services will enable us to deepen strategic partnerships with our business partners and long-term relationships with customers. Looking ahead, we will continue investing to further enhance our offerings and be a leading player in the market.”
The Hon. Ronald Arculli, Chairman of FWD Group, added, “FWD has deep roots in Asia with Hong Kong as our regional base. We are proud that FWD Life Hong Kong has been accredited with such strong ratings by the agencies. This demonstrates the sound business foundation that the FWD team at the Group and Hong Kong offices have created. This combined with strong support from FWD’s shareholders enables FWD to innovate and transform insurance into a truly customer-centric business in the Asian region. I am confident that we will continue to work towards building on this success, and establish FWD as a leading life insurer in the Asian region.”
HSBC Global Banking & Markets team acted as FWD's sole advisor for this ratings review.