FWD to pull out of employee benefits business in Singapore

FWD Group, the insurance arm of Hong Kong's investment conglomerate Pacific Century Group, is pulling out of the employee benefits business in Singapore.

This will impact over 80,000 members across various companies covered by its employee benefits business, according to FWD's website. An FWD spokesperson told that affected clients were informed over the past few months on the shuttering of the employee benefits business.It is believed to be the fifth-largest group medical insurer in Singapore. The insurer had started off here in April 2016 providing employee benefits insurance to corporate customers.

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