Hong Kong-based firm Pacific Century Premium Developments (PCPD) has renewed its FWD Insurance Services and Products Agreement, ensuring the continuation of insurance services from FWD Life Insurance until 2027.
The previous agreement expired at the end of last year.
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According to the agreement, FWD Life Insurance, along with other FWD Group members, has been supplying a range of insurance and related services to PCPD.
The directors of PCPD, including independent non-executive directors (with one director abstaining from the vote), have endorsed the agreement.
They believe the transactions fall within the normal business scope of the group and affirm that the terms were agreed upon at arm’s length and reflect standard commercial conditions.
The services and products to be offered will include but are not limited to insurance services and products from FWD Group, priced according to market rates for similar offerings.
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By GlobalDataAdditionally, other insurance and related services and products may be provided by members of FWD Group, as mutually agreed upon from time to time.
Established in 2013, FWD Group is a pan-Asian life and health insurance enterprise, serving more than 12 million customers in ten markets.
PCPD is known for its involvement in developing and managing property and infrastructure projects.
