Source: Hubbis 31 August 2023

FWD Singapore Pte. Ltd. (“FWD Singapore” or “the company”) today announced its entry into the high-net-worth (HNW) insurance market. The company also named its first Chief High-Net-Worth Officer, Jason Tsui, and launched its first HNW product for accredited investors.

“Single family offices based in Singapore have grown significantly in recent years and so too have their needs for wealth preservation, succession planning and return on investment. FWD has a strong brand and innovative spirit which we are excited to extend to the high-net-worth insurance space,” said Adrian Vincent, CEO of FWD Singapore.

This strategic expansion coincides with FWD Group’s 10th anniversary as a pan-Asian insurer, with more than 10 million customers across 10 markets. The expansion into HNW enables FWD Singapore to provide insurance solutions to private bank clients through international brokers. This is in addition to the recent launch of FWD’s first participating product on 5 May 2023.

Strategic partnerships are another important aspect of the expansion and FWD Singapore will partner with Apollo to launch its first HNW plan for accredited investors, which will be the first of the multiple potential initiatives.

Matthew Michelini, Apollo Partner and Head of Asia Pacific, said, “We’re excited to collaborate with FWD in bringing innovative solutions to HNW clients in Asia. This collaboration demonstrates how Apollo can partner with leading Asia financial services institutions like FWD to provide private market investment solutions in the region.”

To lead its entry into the HNW space, FWD Singapore has also appointed Jason Tsui as its new Chief High Net Worth Officer and has set up a dedicated HNW team to serve this market. Jason brings a broad range of experience in the wealth and estate planning industry. He previously served as Managing Director at the Asian brokerage arm of a global wealth solutions provider in Singapore and Hong Kong, where he was responsible for developing their private placement life insurance business for both private and institutional clients. In his current role at FWD Singapore, Jason spearheads the development and distribution of insurance solutions for HNW and ultra-HNW clients and families in Asia and beyond.

Jason Tsui, Chief High Net Worth Officer, said, “It is a privilege to be a part of the FWD team here in Singapore and their innovative, customer-led approach to insurance. I look forward to working closely with the team on our mission to bring new ideas to the HNW life insurance industry and deliver maximum value to our clients with the right solutions and partnerships.”

Since 2016, FWD Singapore has redefined the online insurance space and made the insurance purchasing experience faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. In mid-2020, FWD partnered retail financial advisory firms with more than 3,000 advisers to provide protection and wealth planning solutions enabling the company to grow faster than the industry.