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Harneys advises on US$425 million transaction

13 November 2013

Harney Westwood & Riegels is advising Swiss Re and Slaughter and May on the Cayman Islands law aspects of an agreement with Pacific Century Group to invest up to US$425 million in FWD Group. 

Swiss Re’s investment consists of an initial investment for a 12.3% stake in FWD Group and a commitment for additional investments to fund FWD's planned expansion across Asia. The total transaction size, including committed capital, is US$425 million. Swiss Re's ultimate ownership stake in FWD will be determined based on the amount of committed capital eventually deployed.

The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance based forms of risk transfer. FWD is the insurance business arm of the private investment group, Pacific Century Group. FWD's business spans Hong Kong, Macau and Thailand, offering life insurance products as well as general insurance and pensions operations in Hong Kong.

Jonathan Culshaw (Partner) and Shari Hawke (Of Counsel) advised on this transaction.