Kathmandu. FWD Pvt. Bermuda has set a new Guinness World Record by issuing a life insurance policy of $318 million. This is the highest sum insured ever for such a product.
The policy was issued by FWD Pvt. Ltd., the high networth arm of the Hong Kong-listed FWD Group. According to the company’s statement and reports published in the South China Morning Post and Habis, a certificate confirming the record was received in Hong Kong on November 9.
This new figure surpasses the previous record of $300 million set by Manulife Singapore in February this year. Prior to that, HSBC Life Hong Kong had set a record by issuing a policy of $250 million in early 2024.
FWD did not disclose the name of the customer. Company officials said that this cover was produced for one person. Its purpose is to protect the property and create a legacy plan for future generations.
Hong Kong-based insurance brokerage firm Charles Monat Associates helped close the deal. According to Teddy Chuk, chief executive of the firm’s Hong Kong office, the same consultant played a key role in setting the previous record. “This deal is proof that Hong Kong is strengthening its position as a global hub for complex property and life insurance solutions for ultra-high net-worth families,” he said.
FWD Private was established in 2023 to provide legacy planning products, especially to high-net-worth and ultra-high net-worth customers. Shaelyn Sham, the organization’s Chief Partnerships Distribution Officer, explained that the scale of the case required very close coordination between brokerage, a private bank, reinsurance companies, and FWD’s distribution, underwriting, and product design teams. She described this achievement as a milestone reflecting growing customer confidence in FWD Group’s ability to deliver high security and succession strategies across Asia. –Agency
