Malaysian beauty queen Serene Lim rumoured to be Hong Kong billionaire Richard Li s new love interest asiaone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asiaone.com Daily Mail and Mail on Sunday newspapers.
It’s not about the cards you’re dealt, but how you play the hand. That would be an accurate depiction of the insurtech industry in Singapore.
Insurance has been a tough nut to crack, especially in the city-state. Singapore is home to one of the highest saturated insurance markets globally – measured by gross written premiums (GWP) as a percentage of per-capita gross domestic product (GDP).
A report by Bain showed incumbents accounted for more than 45 per cent of GWP and annual growth was at 1 per cent for the general insurance market. Furthermore, traditional distribution channels through agents and financial advisors remain the preferred avenue for local consumers to purchase their policies.
Hong Kong tycoon Richard Li s FWD files for U S listin yibada.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yibada.com Daily Mail and Mail on Sunday newspapers.
Morgan Stanley are leading the transaction, they said.
IFR reported in February FWD was considering a listing in the US or Singapore in order to maintain a dual-class shareholding structure.
FWD has been working towards a Hong Kong IPO of up to US$3bn in mid-2021, IFR reported in September. That option, however, may not be compatible with its intended capital structure, people with knowledge of the matter told IFR at the time.
Hong Kong’s listing rules only permit weighted voting rights for innovative companies. FWD does not fully fit the exchange’s definition of that category, said the people.
Hong Kong tycoon Richard Li s FWD files for U S listing reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.