The Second Belt & Road Forum for International Cooperation was held in Beijing on April 25th to 27th. Particularly, it is the first time that the Forum hosted the Belt & Road CEO Conference. King Wai Group (KWG) is the first and only Hong Kong-based enterprise to sign an agreement to provide insurance support to Belt & Road projects upon its acquisition of QBE Insurance (Thailand) in the Conference’s Contract Signing Ceremony. Mr. Antonio Chan, Vice Chairman of King Wai Group, said that “to be the only Hong Kong company to attend the project signing ceremony, I am deeply honored and know that our role is important and there is a long way to go.”
It has been nearly 6 years since President and General Secretary of the CPC Central Committee Xi Jinping proposed the “Belt and Road Initiatives” in 2013. During the period, KWG has actively developed its business in the countries along the “Belt and Road”. Mr. Antonio Chan said, “As the second generation leading the family business, I am very delighted that KWG can seize the golden opportunity risen from the Country’s strategic national development, and contribute to the ‘Belt and Road’ initiative as well as to the mutual benefit and win-win cooperation with the countries along the Belt and Road.”
Mr. Antonio Chan believes that although the "Belt and Road" initiative was proposed by China, the opportunity of development belongs to the whole world. Over the past few years, KWG has been deeply involved in business in Thailand. Such as King Wai Group Insurance is currently the only insurance company in Thailand with Hong Kong background, providing general insurance services, including engineering insurance, marine insurance, automobile insurance. These services not only serve the significant needs of the Chinese enterprises in the "Belt and Road" investment projects in Thailand, but also contribute to the social and economic development of Thailand.
"Financial Integration" is an important support for the construction of the "Belt and Road" initiative. KWG is currently working steadily to integrate the insurance business in Thailand, the financial asset management business in Hong Kong, and other financial related businesses in other regions, so as to provide comprehensive financial services to companies in China and the countries along the Belt and Road.
Mr. Chan furthered, “In addition, KWG has also actively supported the building of ‘People-to-People Bond’ suggested in the ‘Belt and Road’ initiative. My father, Dr. King-Wai Chan, initiated and set up the ‘Bauhinia Valley’ program with the Association of Overseas Chinese Merchants in 2016, to encourage younger generations both in the Mainland and abroad to work for innovative entrepreneurships. And in 2017, he cooperated with the Ministry of Education of Thailand and the Hong Kong Education Bureau to set up a special Belt and Road scholarship program for Thai students, aiming to help the younger generation in Thailand to contribute to the building of “People-to-People Bond’ which can lay a sound foundation for the ‘Belt and Road’ cooperation. “
In the past five years, China’s “Belt and Road” initiative has obtained remarkable achievements. King Wai Group's businesses in Hong Kong, Southeast Asia and Europe have also made tremendous development during the period. As a member of the Hong Kong’s economic and business sector, Mr. Antonio Chan believes that Hong Kong can continue to be the bridgehead for the Country’s strategic development. Hong Kong’s contribution will also bring itself unlimited opportunities for the transformation and upgrading of many Hong Kong enterprises.
MAJOR BUSINESS OF KING WAI (HK) GROUP
King Wai Group (Thailand) Insurance Business
King Wai Group is keen to expand its insurance business in Asia. In 2018, the Group invested nearly 1 billion Thai Baht to acquire the Thai business of QBE, which was the world's top 20 insurance and reinsurance company. At present, the company's total assets exceed 1.5 billion Thai Baht and is operating a wide range of general insurance business, including fire insurance, engineering insurance, marine insurance, yacht insurance, automobile insurance and personal liability insurance, etc. The number of clients exceeds 10,000 and continues to grow. The company is preparing to consolidate its operations in China, Hong Kong and other regions to launch more new insurance products.
King Wai Insurance Public Company Limited is a wholly-owned subsidiary of King Wai Group, which is a leading business group in Hong Kong (founded by Dr. King-Wai Chan). King Wai Group officially acquired 98.24% of the shares of QBE (Queensland Insurance (Thailand) Co., Ltd.) on May 16, 2018. Upon completion of the transaction, the company was renamed "King Wai Insurance Public Company Limited".
King Wai Group (Thailand) Property Business
King Wai Group has expanded its business to Thailand and holds a majority stake in King Wai Group (Thailand) Public Company Limited, of which a listed company in Thai Stock Exchange is, and is mainly engaged in industrial real estate business in Thailand, with a land reserve more than 10,000 mu.
King Wai Group (Hong Kong) Financial Asset Management Business
In Hong Kong, King Wai Financial Asset Management Co., Ltd., a subsidiary of King Wai Group, holds licenses for the Hong Kong Securities Regulatory Commission No. 1, No. 4 and No. 9, and operates securities trading, fund sales and asset management businesses, and specializes in the Asia Pacific stock and bond market and provides special account management services.
For further information, please contact:
King Wai Group (Thailand) Public Company Limited
Ms. Vipapat Nivasabut
Corporate Development Executive
Tel: +662 129 5999 ext. 5125 | Mobile: +6689 228 4866 | email: [email protected]
King Wai Insurance Public Company Limited (KWI)
Ms. Ratti Srisatjung
Corporate Communication Manager
Tel: +66(0) 2624 1032 | Mobile: +66(0) 89 684 7428 | email: [email protected]