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FWD rolls out US dollar-denominated investment-linked insurance

FWD Philippines head of marketing Roche Vandenberghe, chief finance officer Manish Jain, country chief executive officer/president Peter Grimes and chief distribution officer John Johnson

FWD Life Philippines has rolled out a new US dollar-denominated insurance protection plan linked to an international equities portfolio that gives investors a piece of top global corporations such as Apple, Microsoft, Facebook, Amazon, Alibaba, Samsung and Toyota.

This single-pay product called “US Dollar All Set Higher” is seen to give customers the opportunity to take advantage of the long-term growth potential of international economies while giving them lifetime insurance protection for a minimum investment of $20,000.

“The US Dollar All Set Higher plan is the newest addition to FWD’s growing range of customer-focused product innovations,” FWD Life Philippines president and chief executive officer Peter Grimes said in a press statement on Friday.

With a minimum investment of $20,000, Grimes said this product would offer access to a global portfolio of equity shares of top listed corporations across the world, providing an optimal diversification of the policy owner’s investment.

“The plan brings the power of global investing closer to the Filipino and offers long-term growth potential with high potential returns at well-diversified risks,” Grimes said.

Premiums paid for this insurance product will be invested in FWD’s new Global US Dollar Equity Index Fund which closely tracks the total return of the MSCI All Country World Index (MSCI ACWI). This equity fund so far has an annualized return of 5.08 percent since 2000, while five-year investment performance stood at 10.46 percent.

All policy benefits are to be paid out in US dollars.

“As FWD continues to grow in the Philippine market, we take it as a mandate to continuously offer products which address every Filipino customer’s financial needs,” Grimes added. “Through FWD’s US Dollar All Set Higher, we are enabling Filipinos of today to expand their investment range providing them access to a globally-diversified equity portfolio. More importantly, the plan gives them the insurance protection they deserve as they continually build their legacy and aim to reach higher and go further in life.”

The plan will also soon be available at all Security Bank branches nationwide.

FWD has made inroads into the Philippine market barely three years after its debut, in line with its aspiration to be among the top five players in this market by 2019.

After its second full year of operations in 2016, FWD ranked 12th in total premium income in the local insurance industry, up one notch from previous year, according to the Insurance Commission’s report. As of March 2017, FWD Life had P2.3 billion in paid-up capitalization.

FWD Group operates in Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, and Japan, offering life and medical insurance, general insurance, and employee benefits across a number of its markets.. In the Philippines, FWD has nine business hubs located in key cities nationwide with its headquarters in Bonifacio Global City in Taguig.

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