FWD (01828) plans to acquire a 25% equity stake in Bao Te Insurance (Hong Kong) Limited for US$20.72 million.

FWD (01828) announces that on October 10, 2026, FWD Limited, a wholly-owned subsidiary of the Company, entered into a sale and purchase agreement with Bolttech Discovery Holdings Limited to acquire the sale shares (representing 25% of the issued share capital of the target company, Bao Te Insurance (Hong Kong) Limited), at a base consideration of US$20.72 million, subject to closing adjustments. At completion, the parties will sign a shareholders' agreement and a consent letter. It is understood that Bao Te Insurance (Hong Kong) Limited is a company incorporated in Hong Kong and is authorized under the Insurance Ordinance to carry on general insurance business in or from Hong Kong. The target company is currently a wholly-owned subsidiary of the seller, which is ultimately owned by bolttech Holdings. Its principal business is underwriting general insurance business in or from Hong Kong. This transaction provides the Group with an opportunity to acquire a non-controlling minority interest in an enterprise that operates a well-established general insurance business in Hong Kong and maintains a long-term commercial relationship with the Group. This transaction also provides an opportunity to further strengthen the parties' existing partnership in group medical insurance and to enhance cooperation in individual general insurance products, including through strengthening product offerings, distribution and customer service.