Hong Kong, November 3, 2026: FWD Group Holdings Limited reported a 22 per cent year-on-year increase in new business contractual service margin to US$1.4 billion for the nine months ended September 30, 2026, with value of new business rising 18 per cent to US$878 million.
The company said new business sales reached US$1.95 billion on an annualised premium equivalent (APE) basis, achieving growth despite a strong comparable period in 2025, particularly in the Hong Kong & Macau segment.
Product mix and regional performance
FWD Group attributed the double-digit growth in profitability to a shift in product mix, especially in Hong Kong where medium-term endowment sales were prominent in 2025. The company noted continued structural demand for protection and wealth management solutions, with its high-net-worth unit, FWD Private, established in international cross-border wealth hubs.
In Thailand, new business sales growth returned in the last quarter, supported by a focus on higher-margin products and a refreshed distribution strategy, though partly offset by a lower interest-rate environment. Japan saw strong momentum, with a product strategy targeting savings and retirement solutions in a higher interest-rate context, leading to significant growth in new business sales and profitability.
Expansion markets and joint ventures
Growth in the Expansion Markets segment was driven by robust sales of investment-linked products in Singapore, increased sales to affluent customers in the Philippines, and a thriving digital channel in Malaysia. FWD Group’s joint venture in Indonesia, BRI Life, continued to lead the bancassurance market.
Awards and recognition in first year of listing
In its first year as a listed company, FWD Group received several accolades, including the Outstanding Listed Companies Award 2026 from the Hong Kong Institute of Financial Analysts and Professional Commentators, the Excellence Award for First-Year Listed Companies at the Hong Kong Management Association Best Annual Reports Awards 2026, and the Gold Award Annual Report Chairman’s Letter (Insurance: Life & Health category) at the 40th International ARC Awards.
Leadership comments and outlook
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said disciplined execution, margin expansion, and diversification across the pan-Asian platform were driving profitable growth. “A diversified product mix drove excellent new business profitability in Hong Kong, while in Thailand we saw a return to new business sales growth in the last quarter,” he said. Phong added that Asia’s long-term protection, savings, and wealth opportunities remain significant and that the company is well positioned to help more people achieve greater financial confidence.
FWD Group is a pan-Asian life and health insurance business serving over 40 million customers across 10 markets, including BRI Life in Indonesia. The company is listed on the Hong Kong Stock Exchange under the code 1828.
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