FWD Management Holdings Ltd. completed its acquisition of MetLife Ltd. and Metropolitan Life Insurance Co. of Hong Kong Ltd. from U.S.-based insurer MetLife Inc.

The company said the acquisition will strengthen its presence, market share and distribution synergies in the Hong Kong insurance market.

FWD will rename and rebrand the acquired businesses in the coming months, but the transaction will not affect the entities' existing policies. Hong Kong-based MetLife and Metropolitan Life will continue to operate through existing channels across their businesses.