Insurance, Fintech & EM-focused Analyst, KT Capital Group, KT Capital Group

Alec Tseung

Alec is currently a partner in KT Capital Group and has been serving as the Chinese shareholder representative of a publicly-listed insurer in Kazakhstan/Central Asia. 

Previously, he served as the Research & Investments Partner at Re:base Ventures, a Web3 and DeFi investment firm with a strong focus on building and incubation. 

Before that, he spent time with Tencent, where he was responsible for the group's investments in the overseas markets (Southeast Asia, the Middle East, and Europe). 

Prior to Tencent, he was in the Principal Investments team at Swiss Re, where he focused on driving the group's investments into financial services and Fintech sectors in APAC. 

He has been responsible for a wide range of investments and transactions (venture/growth, buyout, direct secondaries, etc.) totaling >$5 billion. Alec started his career with Bank of America Merrill Lynch.

Insurance, Fintech & EM-focused Analyst, KT Capital Group

FWD IPO Valuation: Intangible Assets Is the Key (Vs. Peers)

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Private Capital Markets

FWD Group Holdings / Private Capital Markets

<ul>
<li>The saga of CK Hutchison's Panama Canal Ports sale might also impact FWD due to tensions between China and the Li family.</li>
<li>Despite minimal mainland China presence, FWD faces exposure through its significant HK and Macau operations; HK and Macau contributed 40% - 50% of the group's VNB and operating profits.</li>
<li>After FWD's failed IPO attempts, PCG might consider a strategic sale for liquidity; FWD might offer a good strategic fit to Korean insurers looking to expand to Southeast Asia. </li>
</ul>


The saga of CK Hutchison's Panama Canal Ports sale might also impact FWD due to tensions between China and the Li family.
Despite minimal mainland China presence, FWD faces exposure through its significant HK and Macau operations; HK and Macau contributed 40% - 50% of the group's VNB and operating profits.
After FWD's failed IPO attempts, PCG might consider a strategic sale for liquidity; FWD might offer a good strategic fit to Korean insurers looking to expand to Southeast Asia. 


FWD: An Ideal Acquisition Target for Korean Insurers?