Billionaire Richard Li’s insurance company FWD has agreed to buy Fuji Life Insurance from AIG following a multi-year search for the right asset in the world’s second largest insurance market.
FWD, the insurance arm of Li’s Pacific Century Group, is building an insurance platform across Asia Pacific and Japan has long been a big piece of the puzzle.
“This acquisition creates a much more balanced presence in Asia,” FWD's CEO Huynh Thanh Phong told FinanceAsia.
Huynh has been forging a pan-Asian insurer out of new ventures across Southeast Asia and a multi-billion-dollar business bought from Dutch bank ING back...
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