HK tycoon Richard Li reportedly invests US$200m in FWD Group

Hong Kong tycoon Richard Li is reportedly mulling to invest about US$200 million in his insurance company FWD Group Holdings as part of a funding round.

According to Bloomberg, the investment aims at supporting the insurer’s growth plans ahead of a long-awaited Hong Kong initial public offering, which could take place as soon as 2023.

Other investors have also revealed their interest in a fundraising for FWD before its listing, said the report.

MARKETING-INTERACTIVE has reached out to FWD for a statement. 

The terms of the funding round and details are still not confirmed yet, according to the report.

Back in May this year, 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. 

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.

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