FWD Singapore enters HNW market with inaugural product

The company is also planning to partner with Apollo for its asset management needs

FWD Singapore enters HNW market with inaugural product

Insurance News

By Kenneth Araullo

Insurer FWD Singapore has taken a strategic step into the high-net-worth (HNW) insurance sector, introducing its inaugural HNW product tailored for accredited investors, while simultaneously appointing Jason Tsui as its first chief HNW officer.

The expansion into the realm of HNW insurance aligns with the insurer’s progression towards offering comprehensive life and general insurance solutions, encompassing even international health insurance. By venturing into this segment, FWD Singapore positions itself to furnish insurance remedies to clients of private banks, facilitated through global brokers specializing in international markets.

Furthermore, the company is poised to collaborate with asset manager Apollo to unveil its debut HNW plan, according to The Asset.

To spearhead its foray into this new domain, FWD Singapore has enlisted Jason Tsui as its chief HNW officer. Tsui will head the dedicated HNW team that the company has created to serve the market.

Tsui brings to the table an extensive skill set acquired from the wealth and estate planning sector. According to his LinkedIn, his was previously the Singapore managing director at Lombard International Group, showcasing his adeptness in cultivating private placement life insurance offerings for both individual and institutional clienteles.

In his new capacity at FWD Singapore, he will conceive insurance solutions tailored for HNW and ultra-HNW clients and families not only within Asia but also across broader horizons.

“Single family offices based in Singapore have grown significantly in recent years and so too have their needs for wealth preservation, succession planning and return on investment,” FWD Singapore CEO Adrian Vincent said.

Meanwhile, the insurance group also recently revealed that Fitch assigned the company a long-term issuer default rating of BBB+, with a stable outlook.

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