Insurer FWD Group (1828) announced that FWD Tower at Taikoo Place in Quarry Bay has officially become the headquarters of FWD Hong Kong, marking a major consolidation of the group's local operations.
The group said that if business continues to grow, it will consider leasing additional office space at the complex.
FWD group chairman Frederick Ma Si-hang said the opening of FWD Tower reflects the group's long-term commitment and investment in Hong Kong. He said the city's insurance market is developing very well, supported by demand from both local and mainland Chinese customers.
FWD currently ranks third in terms of business development in Hong Kong, Ma added.
The insurer's agency force in Hong Kong has grown by more than 10 percent annually in recent years, reaching about 4,500 agents at the end of last year, with a target of expanding the sales team to 6,000 this year, said Ken Lau, FWD Greater China managing director and Hong Kong chief executive.
Lau added that the group will continue to invest heavily in technology, with annual investment in Hong Kong alone approaching US$100 million (HK$780 million).
Last year, FWD Hong Kong signed a 10-year lease with Swire Properties, leasing about 330,000 square feet of Grade A office space at Taikoo Place.
The move allows the group to consolidate its previously dispersed offices across Hong Kong into a single campus.
FWD Hong Kong signed a 10-year lease with Swire Properties (1972) last year, taking up a total of about 330,000 square feet of office space at Taikoo Place. Devon House has been renamed FWD Tower starting this year.
Cynthia ZHONG
