FWD Group Reports Strong New Business Growth and Enhanced Financial Position

FWD Group Holdings Limited reported strong new business growth for the nine months ended 30 September 2025, with new business sales increasing 37 percent to US$1.935 billion compared to the same period in 2024 on an annualised premium equivalent basis. The company achieved new business contractual service margin of US$1.158 billion, representing year-on-year growth of 27 percent. These results demonstrate the company's ability to generate substantial value creation for shareholders while strengthening its contractual service margin balance and boosting earnings over time.

The company executed multiple strategic capital management actions that significantly enhanced its financial strength. In September, FWD Group refinanced US$1.15 billion of debt and redeemed US$500 million of debt by mainly utilising recent initial public offering proceeds. These actions reduced leverage to 21.8 percent on a proforma basis as at 30 June 2025 and lowered annualised financing costs by approximately US$72 million. The significant decrease in financing costs and leverage delivers substantial benefits to shareholders and positions FWD Group to accelerate its customer-led growth strategy while advancing risk management priorities.

Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, stated that the strong new business results were powered by organic growth across most of the 10 Asian markets where the company operates. The company has continued to anticipate and respond to rapidly evolving customer needs for protection, health, and savings, introducing over 40 new products in 2025 to meet these changing market demands. This customer-focused approach has been central to the company's growth strategy and market positioning.

Exceptional demand from both local and visiting customers continued to drive strong new business growth in Hong Kong SAR and Macau SAR. In Emerging Markets, strong double-digit growth in new business sales reflected momentum in Singapore, Malaysia, the Philippines and FWD Group's joint venture in Indonesia, BRI Life. Japan showed new business sales growth reflecting solid performance in the individual protection business and the company's recent entry into the retirement and savings market. However, the low-interest rate environment continued to weigh on new business indicators in the Thailand and Cambodia reporting segment, highlighting the varying market conditions across the company's operational regions.