This July 15, 2021, photo shows a view of the New York Stock Exchange (NYSE) at Wall Street in New York City. (ANGELA WEISS / AFP)

Pan-Asian life insurer, FWD Group Holdings, has filed for a listing of American Depositary Shares in the New York Stock Exchange, the company said in a statement.

FWD manages $62.5 billion in assets, operates in 10 Asian markets, and has 9.8 million customers, according to company data as of December 2020

The ADRs represent Class A ordinary shares of group and will trade under the symbol “FWD.” ADRs are an equity right representing one or more shares of the company, or a fraction of a share.

The insurer, backed by billionaire Richard Li Tzar-kai, said it has not determined the number of ADSs to be offered and the price range.

FWD manages $62.5 billion in assets, operates in 10 Asian markets, and has 9.8 million customers, according to company data as of December 2020.

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The company says it is the ninth largest life insurer by market share in the Hong Kong Special Administrative Region, according to provisional Insurance Authority of Hong Kong data from January to December 2020. Its partners include Bank of Communications (Hong Kong), China Construction Bank (Asia) Corporation, Industrial & Commercial Bank of China (Asia), and E.SUN Bank.

In June, the PCGI Intermediate Holdings, the holding company of FWD Limited and FWD Group Limited, said it had confidentially submitted a draft registration filing with the United States Securities and Exchange Commission relating to a proposed initial public offering of ADSs.

The company strengthened its market share and distribution synergies in Hong Kong, in July last year by completing the acquisition of MetLife Limited and Metropolitan Life Insurance Company of Hong Kong Limited from New York-listed MetLife, Inc. The transaction was through FWD Management Holdings Limited, the Hong Kong registered business of FWD Group.