FWD's IPO plan in HK reportedly receives approval

FWD Insurance has gained approval to be listed in Hong Kong after it shirted its IPO plan from the US to Hong Kong last year, according to multiple media reports. 

Reports including Bloomberg and other Hong Kong news outlets said that the company was approved to be listed in Hong Kong after a hearing last Thursday. However, the company, backed by Hong Kong tycoon Richard Li, has not decided on the time of launching the IPO. 

Previously, it was reported that the insurance company was planning to raise about HK$1 billion in its Hong Kong IPO. MARKETING-INTERACTIVE has reached out to FWD for more details. 

In November 2021, Reuters reported that FWD Insurance was planning to shift its IPO from the US to Hong Kong due to delays by regulators in the US, as the US regulators scrutinised the plan and low interest from investors. The report also said that the delays had increased concerns about the approval, as the application was expected not to be granted.

Established in 2013, the insurance company's presence spans Asian countries and regions including Hong Kong, Macau, Singapore, Malaysia, and Indonesia. In Hong Kong, the brand launched a campaign to engage citizens last year, featuring boyband MIRROR's members Ian Chan and Jer Lau, as well as singer Gin Lee.

The pop-up store, located in Harbour City, ran until 5 December. This “Treasurance” shop displayed a wide variety of insurance solutions as daily necessities, showcasing how insurance was incorporated into people's daily lives. Divided into four zones, namely “Health”, “Life”, “Living” and “Travel”, the shop featured popular insurance products welcomed by these celebrity shopkeepers. In the campaign, Lee was the store owner while sales assistants Chan and Lau spend a lot of effort helping Lee promote the insurance products.

The pop-up store also offered visitors limited-time offers, a special selfie area and interactive activities, allowing visitors to explore insurance protection options offered by FWD Insurance for them to better plan for their future.

To add an element of fun to the offline experience, FWD Insurance included life-size cutouts of Chan, Lau and Lee, allowing visitors to take photos with these three celebrities. Moreover, visitors who complete on-site "missions" will receive gifts featuring these celebrities too.

The pop-up store was part of the campaign that introduced FWD Insurance's digital platform and new protection plan. The latest store brought the products on the platform from online to offline. The digital platform offered a wide range of protection that covers every aspect of daily life, including the voluntary health insurance scheme, which offered individual indemnity hospital insurance plans that were certified by the Food and Health Bureau of the Hong Kong government to comply with the minimum requirements of the scheme in product design, life insurance, home insurance and motor insurance.

Related articles
FWD Insurance promotes Gavin Lai to brand and marketing VP
FWD Insurance launches pop-up stores for insurance solutions
FWD launches online challenge to support Hong Chi Association, explains CSR strategies under the new normal