FWD Group Reports Record Profit Amid Continued Growth

FWD Group Holdings Limited (1828.HK) has announced its interim results for the six months ended 30 June 2026, reporting a record net profit after tax of US$172 million, a three-fold increase compared to the same period in 2025. The company's operating profit after tax also rose 20% to US$298 million, with positive contributions from all four reportable segments: Hong Kong SAR & Macau SAR; Thailand & Cambodia; Japan; and Expansion Markets. These results underscore the company's ability to sustain growth and convert it into rising profitability, driven by its diversified geographic footprint and multi-channel distribution model.

New business sales increased by 7% to US$1.35 billion on an annualised premium equivalent (APE) basis, while new business contractual service margin grew 25% year-on-year to US$996 million. The company also reported a 5% increase in comprehensive tangible equity to US$8.83 billion and a 5% rise in Group embedded value to US$6.95 billion, compared to 31 December 2025. FWD Group retained a strong solvency ratio of 203% after adopting economic value-based solvency regulation in Japan.

Huynh Thanh Phong, Group Chief Executive Officer and Executive Director, commented, "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. This was driven by the diversification built into our geographic footprint and multi-channel distribution model over the past 13 years, as well as a capital structure that positions FWD Group well for the future."

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 role as a major cross-border wealth hub. Japan saw excellent growth driven by expansion into the savings and retirement needs segment, complementing its existing protection business as the ageing society fuels the longevity economy. In Thailand, the focus on profitable new business continued through the exclusive bancassurance partnership with Siam Commercial Bank and agency channels. A new Chief Executive Officer for Thailand, Khun Knattapisit Krutkrongchai, joined in May, completing the transition.

Expansion Markets, comprising Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, achieved strong growth despite macroeconomic uncertainty in some countries. The company introduced 21 new products in the first half of 2026 to address emerging customer needs. A consumer outlook survey released in February 2026 indicated that most of Asia's middle-class feel financially anxious and underprepared for retirement, underscoring the importance of FWD's customer-led approach.

In a strategic move, FWD Group announced a key hire in May for its high-net-worth (HNW) business, which serves the global HNW insurance market with diversified asset allocation, wealth management, and legacy planning. Additionally, in July, the company received globally recognised certification for the development, procurement, deployment, and use of artificial intelligence (AI) systems, achieving the ISO/IEC 42001 standard from the International Organisation for Standardisation/International Electrotechnical Commission. This certification reflects the growing maturity and responsible use of AI at FWD Group.

These results highlight FWD Group's strong track record as a listed company serving over 40 million customers across 10 markets in Asia. The company remains focused on anchoring around the customer, aided by technological innovation. For more information about FWD Group, visit www.fwd.com.