FWD in talks to buy MetLife's Hong Kong insurance unit

Pedro Gonçalves
clock • 1 min read

FWD Group is said to be in advanced talks to buy MetLife's Hong Kong insurance unit in what would be the latest in a string of acquisitions by the insurer backed by billionaire Richard Li, Bloomberg reports. The deal could value MetLife Hong Kong at under $400m, priced close to its embedded value, or a measure of the value of its insurance contracts. Insurance products are popular among mainland Chinese customers because they are seen as offshore investments that can help diversify their assets and hedge against the volatility in the renminbi. MetLife's Asia business saw adjusted earn...

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