Microsoft has extended its partnership with Hong Kong-based insurance provider FWD Group, signing a four-year agreement to provide generative artificial intelligence (AI) innovations, a move that highlights the US tech giant's continuing focus on Asia as companies race to integrate cutting-edge AI technology into their products and services. By extending the cooperation, FWD will gain access to Azure, the cloud computing platform of Microsoft, which is the biggest backer of OpenAI, the company b
Hong Kong billionaire Richard Li Tzar-kai will maintain his control of Hong Kong-based FWD Group Holdings amid speculation about a potential stake sale that values the regional insurer at about US$10 billion, after it struggled to raise funds through an initial public offering (IPO). Pacific Century Group, which controls the insurer, said Li will maintain his grip on FWD, adding that the billionaire was "confident about the long-term development of the company", according to a statement released
SYDNEY (Reuters) -Asia-focused insurer FWD Group has cut around 50 jobs in its head offices this week, according to two sources with direct knowledge of the matter. The job cuts took place mainly in Hong Kong and Singapore, added one of the sources. "Like all successful companies, we routinely review and adjust our head office resources to ensure we have an appropriately skilled and sized team to support our fast-growing pan Asian business," an emailed statement from FWD Group to Reuters said on Friday.