Mobile wallet users now have a new and convenient way to start savings and gain insurance protection via the familiar stored value facility

HONG KONG, CHINA - Media OutReach - 28 July 2020 - FWD Hong Kong ("FWD") has introduced its Cash-up Insurance Plan
("Cash-up"), a fintech initiative that makes it easy for Hong Kong's mobile
wallet users to establish a savings habit while gaining life insurance
protection at the same time. FWD's Cash-up is a collaboration with Octopus O!
ePay, Hong Kong's iconic network based stored value facility operated by
Octopus Cards Limited, and is available via a fully digital, intuitive
interface where customers can conveniently apply for insurance plans, pay
premiums, manage savings, gain returns and make withdrawals.

FWD partners with Octopus O! ePay to
provide Cash-up Insurance Plan, a digital
insurance solution with guaranteed crediting interest rates to encourage Hong
Kong's mobile wallet users to establish a savings habit.

Cash-up
offers
policyholders with guaranteed crediting interest rates of 4-2-2 over the first
three policy years. The crediting interest will be calculated daily, credited
to the account and can be withdrawn at policy anniversaries.

"Cash-up is an easy-to-use insurance product, developed to meet the
changing needs of today's digital lifestyle and brings our vision to life as we
strive to change the way people feel about insurance every single day," said Ken
Lau, FWD Managing Director of Greater China and Hong Kong Chief Executive
Officer. "In addition to added convenience, we also want to encourage
people, especially the younger generation, to form strong saving habits. This partnership
with O! ePay allows us to bring this message and our leading customer
experience to even more people in Hong Kong."  

"We are
delighted to welcome FWD as one of our O! ePay online payment service
merchants.  The account value of Cash-up
by FWD can also be used to top up O! ePay, essentially withdrawing the money
back into O! ePay for everyday use. We believe this innovative cooperation will
help make daily expense management even easier for our customers." said Mr.
Sunny Cheung, Chief Executive Officer of OCL.

Cash-up application is a click away for mobile wallet users

FWD keeps everything simple for Cash-up from the very first step with
Octopus' O! ePay. O! ePay Plus and O! ePay Pro account holders aged 19 to 70
years (age next birthday) who are Hong Kong permanent identity card holders and
with the support of a second identity document (Home Return Permit or passport)
are eligible to apply for Cash-up.  

Guaranteed returns for the first three years

Forming strong savings habits is important for young adults taking on
financial responsibilities for the first time, and FWD's Cash-up offers policyholders a fast start with guaranteed crediting
interest rates of "4-2-2" over the first three policy years, i.e. 4% crediting
interest rate for contributions in the first year of the policy, followed by a
guaranteed crediting interest rate of 2% for the second and third policy year. The crediting interest of Cash-up will be calculated daily,
credited to the policyholder's account and can be withdrawn at each policy
anniversary.

Easy to start with no fee for withdrawals plus death benefits

Cash-up can be activated simply with an initial premium payment of as little
as HK$300 through a credit card. There is no limit on the number of contributions
and account value withdrawals through O! ePay, as long as the contribution amount
is within HK$300 to HK$5,000 each time and the withdrawal does not exceed
HK$5,000 a day. Total contributions can be up to HK$20,000 per policy year and
are capped at HK$100,000 per policy term (see also table 1). Unlike traditional
insurance plans, Cash-up does not charge any fees for account value withdrawal,
allowing for extra flexibility to manage savings and wealth.

Cash-up is a digital insurance option that combines saving and
protection by also providing life protection. On death, Cash up will pay a benefit
of 105% of the account value and if the death is accidental, Cash up will pay a
further 100% or HK$20,000, whichever is lower.

Note: Cash-up Insurance Plan is underwritten by FWD
Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited
liability). The above information does not contain the full terms and benefits
of the policy, key product risks, and major exclusions. For details, please
refer to its product brochure and policy provisions downloadable at https://www.fwd.com.hk/en/save/cash-up/. This promotion material is
intended to be distributed in Hong Kong only and shall not be construed as an
offer to sell, a solicitation to buy or the provision of any insurance products
of FWD outside Hong Kong. All selling and application procedures of the
promotion must be conducted and completed in Hong Kong.

Table 1:
Premium contribution limit and withdrawal limit

About FWD Hong Kong & Macau

FWD
Hong Kong offers life and medical insurance, general insurance, employee
benefits, and financial planning. Its life insurance and general insurance
operating entities have been assigned strong financial strength ratings by
international rating agencies -- FWD Life Insurance Company (Bermuda) Limited (incorporated
in Bermuda with limited liability) is rated "A3" by Moody's and "A" by Fitch;
and FWD General Insurance Company Limited is rated "A" by Fitch. FWD Macau
provides a suite of life and medical insurance.

FWD
Hong Kong & Macau is a part of the FWD Group, the insurance business of
investment group, Pacific Century Group. FWD Group spans Hong Kong & Macau,
Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan and Malaysia.

By creating fresh customer experiences with
easy-to-understand products supported by digital technology, FWD aims to become
a leading pan-Asian insurer that changes the way people feel about insurance.

For more information about FWD Hong Kong & Macau please visit WWW.FWD.COM.HK and WWW.FWD.COM.MO.