Billionaire Richard Li-backed FWD Group to buy MetLife’s Hong Kong units

Visual via MBT

FWD Group Ltd., the insurance broker backed by billionaire Richard Li, has agreed to buy two Hong Kong units of MetLife Inc. to increase market share, the former said in an emailed statement Friday.

Six-year-old FWD, via its Hong Kong unit, will acquire MetLife Ltd. and Metropolitan Life Insurance Co. of Hong Kong Ltd. for an undisclosed amount, according to the statement, which added the transaction will require regulatory approval.

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