bolttech achieves unicorn status following US$180 million series A, the largest ever for an insurtech.
FWD Group completed its investment in PT Asuransi BRI Life, the life insurance arm of PT Bank Rakyat Indonesia (Persero) Tbk. Concurrently, BRI Life has entered into a long-term life insurance distribution agreement with BRI.
HKT introduced true 5G service in Hong Kong and brought a differentiated 5G experience to customers. HKT was the first mobile operator in Hong Kong to introduce true 5G.
A new international insurtech business with three key capabilities: device protection, insurtech exchange, and digital insurance.
FWD Group completes its acquisition of SCB Life Assurance, the life insurance business of Thailand’s Siam Commercial Bank, for 92.7 billion Thai baht (US$3 billion), reflecting the largest insurance deal in Southeast Asia in terms of value.
Standard Chartered, PCCW, HKT and Ctrip established a strategic joint venture to deliver a new standalone digital retail bank in Hong Kong. The joint venture will be conducted under a new entity, which was granted a licence to operate a virtual bank in Hong Kong by the Hong Kong Monetary Authority.
FWD expanded its business into Malaysia after acquiring a 49% stake in HSBC’s Amanah Takaful (Malaysia).
FWD announced the acquisition completion of AIG Fuji Life Insurance Company.
PCCW Media launched its first free TV channel in Hong Kong, ViuTV 99, in April 2016.
PCCW Media acquired VuClip, a leader in mobile video for emerging markets and launched Viu in March 2015. Viu’s over-the-top (OTT) multi-screen video service was launched in October 2015 in Hong Kong and extended to 17 markets in 2019.
HKT completed its acquisition of CSL New World Mobility in May 2014, and became the largest wireless service provider in Hong Kong.
PCG acquired insurance company ING Group N.V.’s Hong Kong, Macau and Thailand insurance business and rebranded it to FWD. FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance.
PCG acquired the asset management business of American International Group, Inc., and renamed it to PineBridge Investments.
Richard Li launched via PCCW the world’s first major IPTV service, nowTV. Today it is the world’s largest commercial deployment, accounting for a fifth of all IPTV subscribers worldwide. nowTV provides nearly 200 channels and is the largest pay-TV operator in Hong Kong.
PCCW’s IT service business, PCCW Solutions, won the contract from the Hong Kong government to develop Smart Identity Card System in 2002. The System won multiple international recognition and awards, and has been widely adopted by Hong Kong citizens.
PCCW acquired Cable & Wireless HKT, formerly known as The Hong Kong Telephone Company Ltd., and formed the company with businesses in telecommunications, media, IT solutions, property development and investment, and other businesses.
Richard Li developed Cyberport to raise awareness of technology’s role in Hong Kong’s economy. Today, it is home to 60 commercial organizations including Microsoft and IBM, as well as more than 25 start-ups.
Pacific Century CyberWorks (PCCW) is founded, and was later renamed to PCCW Limited.
Using proceeds from the sale of STAR TV, Richard sets up his own Asia-based private investment group, Pacific Century Group (PCG). Today, PCG’s main investments stem across three core pillars in financial services, technology, media & telecommunications and property. PCG operations currently span across the globe but is primarily based in the Asia-Pacific region including Singapore, Hong Kong and Japan.