FWD Bought Shenton Insurance

FWD Group, the insurance arm of Pacific Century Group, has acquired a 90% stake in medical insurance provider Shenton Insurance Pte Ltd from Parkway Holdings Limited in a deal worth about $28.4 milion.

Parkway Holdings Limited is an indirect wholly owned subsidiary of IHH Healthcare Berhad.
Following this transaction, Shenton will cease to be a subsidiary of Parkway Holdings. It will be rebranded as FWD soon.

 

Singapore is the third new market in FWD's regional network, which includes Indonesia, the Philippines, Hong Kong, Macau and Thailand.