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HONG KONG, Feb. 20, 2023 /PRNewswire/ FWD Group Holdings Limited ("FWD Group") will enter the Malaysian life insurance market following the signing of an agreement to invest in a majoritystake in Gibraltar BSN Life Berhad ("Gibraltar BSN"). The transaction is expected to close in the second quarter of 2023. FWD Group, and other investors, will together hold an effective 70% stake in Gibraltar BSN, which was sold by The Prudential Insurance Company of America, the wholly owned subsidiary of US-based NYSE-listed Prudential Financial, Inc. (NYSE: PRU) ("PFI").Bank Simpanan Nasional ("BSN") will continue to hold the remaining 30% stake ownership in Gibraltar BSN. Post-completion, FWD Group will partner with BSN to further develop and grow Gibraltar BSN. Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, "We're creating a full-service offering in Malaysia and will be able to offer both family takaful ....

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