FWD Group Reports Record Profit Amid Continued Growth

FWD Group Holdings Limited (1828.HK) announced record interim results for the first half of 2026, with net profit after tax tripling to US$172 million, a significant milestone for the pan-Asian life and health insurance company. The robust performance underscores the company's ability to sustain growth and convert it into bottom-line profitability, a testament to its strategic diversification and customer-focused approach.

New business sales increased by seven per cent to US$1.35 billion on an annualised premium equivalent (APE) basis, reflecting strong demand across its markets. The new business contractual service margin grew 25 per cent year-on-year to US$996 million, indicating improved profitability of new policies. Operating profit after tax rose 20 per cent to US$298 million, with positive contributions from all four reportable segments: Hong Kong SAR & Macau SAR, Thailand & Cambodia, Japan, and Expansion Markets.

Shareholder value creation continued its upward trajectory, with comprehensive tangible equity up five per cent to US$8.83 billion and Group embedded value up five per cent to US$6.95 billion compared to December 2025. The company's solvency ratio remained strong at 203 per cent, even after adopting economic value-based solvency regulation in Japan, demonstrating its financial resilience.

Huynh Thanh Phong, Group Chief Executive Officer and Executive Director, attributed the success to the company's diversified geographic footprint and multi-channel distribution model built over the past 13 years. He noted, “FWD Group had a very strong start to our first full year as a listed company. Once again, we’ve demonstrated our ability to sustain growth, and to convert that growth into rising bottom-line profitability, while expanding margins.”

In Hong Kong SAR, the company's home market, momentum continued despite record prior-year growth, supported by resilient domestic demand and the city's status as a global cross-border wealth hub. Japan saw excellent growth driven by expansion into the savings and retirement needs segment, addressing the rapidly ageing society's longevity economy. Thailand maintained focus on profitable new business through its exclusive bancassurance partnership with Siam Commercial Bank, while Expansion Markets, including Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, delivered strong growth despite macroeconomic uncertainties.

The company also made strategic moves to bolster its high-net-worth (HNW) business, announcing a key hire in May to serve the global HNW insurance market. In July, FWD Group achieved the ISO/IEC 42001 certification from the International Organisation for Standardisation/International Electrotechnical Commission, recognizing its responsible development and use of artificial intelligence (AI) systems. This certification reflects the growing maturity of FWD's technology-enabled approach.

Across the region, FWD introduced 21 new products in the first half of 2026 to address emerging customer needs. A consumer outlook survey released in February 2026, before the Middle East conflict and global energy shocks, revealed that most of Asia's middle-class feel financially anxious and underprepared for retirement. This insight underscores the importance of FWD's mission to change the way people feel about insurance by providing innovative, easy-to-understand products.

FWD Group serves over 40 million customers across 10 markets in Asia, including BRI Life in Indonesia. Listed on the Hong Kong Stock Exchange under the stock code 1828, the company continues to leverage technology and customer-led strategies to drive growth. For more information, visit [www.fwd.com](https://www.fwd.com).