Fu Wei purchase Hong Kong MetLife will cover the existing insurance policy of the other party

PCCW (0008) Chairman Li Zezhen privately held Fu Wei announced that he has reached an agreement with the US Metropolitan Life to acquire Hong Kong MetLife. The transaction needs to be approved by the relevant regulatory authorities. The parties have not disclosed the terms of the transaction.

Fu Wei pointed out that the acquisition of MetLife in Hong Kong will further enhance the market share of Hong Kong’s business and strengthen its position as a leading life insurance company in Hong Kong. After obtaining approval from the relevant regulatory authorities to complete the acquisition, Fuwei will continue to cover all existing policies of MetLife in Hong Kong, and carry out name and brand changes to further strengthen the Fuwei brand.

Fu Wei said that it will actively develop Hong Kong

Hu Weih Thanh Phong, CEO of Fu Wei, said that the acquisition of Metropolitan Life in Hong Kong will help promote Fu Wei’s existing business. He also pointed out that the company will continue to actively invest resources in this key market and look forward to the Hong Kong MetLife agent team and employees. Join.

Rebecca Tadikonda, head of strategic growth markets for MetLife Asia, points out that Metropolitan Life is a quality business that has always been based on innovative products and a high level of customer service. Fuwei has the good conditions and solid determination to further expand this business, and is confident that under the leadership of Fuwei, it will be able to create greater benefits for customers, agent teams, employees and business partners.

Liu Zhijian, managing director of Fuwei Greater China and chief executive of Hong Kong, pointed out that the acquisition is an excellent opportunity for the company to further expand its business and fully implement the company’s vision of creating a new insurance experience. In the future, the Hong Kong team will focus on providing new, tailored and easy-to-follow protection products, convenient insurance and claims services, and expanding multiple distribution channels.