FWD Bought Gibraltar BSN Life

FWD Group Holdings has announced its entrance into the Malaysian life insurance market with a strategic, majority investment into Gibraltar BSN Life Berhad, one of the country’s fastest growing life insurers. The transaction involves a few other investors and is expected to close in the second quarter of this year.

Together with other investors, FWD Group will hold an effective 70% stake in Gibraltar BSN, transacted from The Prudential Insurance Company of America. The latter is a wholly owned subsidiary of the US-based and NYSE-listed Prudential Financial. The remaining 30% stake ownership in Gibraltar BSN will be held by the Bank Simpanan Nasional (BSN). FWD Group will partner with BSN following the transaction’s completion to further grow and develop Gibraltar BSN.