FWD Insurance has acquired a minority stake in financial advisory firm IPP Financial Advisers, the latter confirmed on its Linkedin account.
The financial terms of the deal were not disclosed.
The strategic alliance will look to help FWD design “attractive and competitive” life insurance products for its clientele, while bolster IPPFA’s position in Singapore and the broader Asia Pacific region.
Tay Huai Eng, IPPFA chief executive, said: “As a major pan-Asian Insurer, FWD’s capital resources, expertise, and market knowledge will further enhance our company’s growth and expansion in Singapore and the region.
“It will also strengthen our professional staffing and technology capabilities.”
Adrian Vincent, general manager of FWD Singapore’s life business, said: “We share a mutual commitment to continued growth in the region and look forward to supporting them as they continue to lead the way in the financial planning arena.”
Background
Founded in 1983, IPPFA has over 50,000 clients and almost S$1.4bn (£780m, $1.03bn, €870m) in assets under advice.
IPPFA provides expertise in wealth planning, advance insurance planning and global investments advisory services.
FWD Insurance has operations in Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan and Malaysia.
It offers life and medical insurance, general insurance, employee benefits, Shariah and Family Takaful products across a number of its markets.
