FWD Group Holdings Limited (“FWD Group” or “FWD”) has announced its interim results for the six months ended 30 June 2026, revealing a record net profit after tax of US$172 million, a three-fold increase compared to the same period in 2025. The company also reported an operating profit after tax of US$298 million, up 20% year-on-year, with positive contributions from all four reportable segments: Hong Kong SAR & Macau SAR; Thailand & Cambodia; Japan; and Expansion Markets.
New business sales grew by seven per cent to US$1.35 billion on an annualised premium equivalent (APE) basis. The new business contractual service margin reached US$996 million, reflecting a 25% year-on-year growth. These results underscore FWD Group's ability to sustain growth and convert it into rising bottom-line profitability while expanding margins.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, attributed the strong performance to the diversification built into the company's 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. 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.”
Shareholder value creation indicators continued to trend positively, 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 31 December 2025. FWD Group retained a solvency ratio of 203 per cent, after the adoption of economic value-based solvency regulation in Japan.
In the company’s home market of Hong Kong SAR, 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. Excellent growth in Japan was driven by the company’s expansion into the savings and retirement needs segment in July 2025, complementing its existing protection business as a rapidly ageing society continues to fuel the longevity economy.
In Thailand, the focus on profitable new business continued through the company’s 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 when Khun Knattapisit Krutkrongchai (KK) joined the company. Strong growth in Expansion Markets – comprised of Indonesia, Malaysia, the Philippines, Singapore, and Vietnam – was achieved despite the macroeconomic uncertainty in some countries in this segment.
FWD Group 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, 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 reflects the growing maturity and responsible use of AI at FWD Group.
Across the region, 21 new products were introduced in the first half of 2026 in response to emerging customer needs. The FWD Group consumer outlook survey released in February 2026, prior to the outbreak of conflict in the Middle East and the associated global energy economic shocks, showed that most of Asia’s middle-class feel financially anxious and underprepared for retirement.
These results highlight FWD Group's strong track record as a listed company serving more than 40 million customers across 10 markets in Asia. The company remains heavily focused on anchoring around the customer, aided by transformational technological innovation. For more information, visit www.fwd.com.
