FWD Group Holdings Limited (1828.HK) today 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 earnings per share stood at US$0.13. This remarkable performance underscores the effectiveness of FWD's diversified geographic footprint and multi-channel distribution model, which have been pivotal in converting growth into bottom-line profitability.
New business sales reached US$1.35 billion on an annualised premium equivalent (APE) basis, up seven per cent from the prior corresponding period. The new business contractual service margin grew by 25 per cent year-on-year to US$996 million, reflecting the company's focus on profitable expansion. Operating profit after tax increased by 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.
The company's shareholder value creation indicators continued to trend positively. Comprehensive tangible equity rose by five per cent to US$8.83 billion, and Group embedded value increased by five per cent to US$6.95 billion compared to 31 December 2025. FWD Group retained a robust solvency ratio of 203 per cent, even after adopting economic value-based solvency regulation in Japan.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, 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 one of the world's largest cross-border wealth hubs. Japan experienced excellent growth due to the expansion into the savings and retirement needs segment in July 2025, complementing its existing protection business amid a rapidly ageing society. In Thailand, the focus on profitable new business continued through the market-leading exclusive bancassurance partnership with Siam Commercial Bank and agency distribution channels. The transition to a new Chief Executive Officer for Thailand was completed in May with the appointment of Khun Knattapisit Krutkrongchai.
Expansion Markets, comprising Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, achieved strong growth despite macroeconomic uncertainty in some countries. Across the region, FWD introduced 21 new products in the first half of 2026 in response to emerging customer needs. The company also 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.
In July, FWD Group 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.
FWD Group serves over 40 million customers across 10 markets in Asia, including BRI Life in Indonesia. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. For more information, visit www.fwd.com.
