FWD Group Holdings Limited (“FWD Group” or “FWD”) today announced strong new business growth for the nine months ended 30 September 2025, with new business sales up 37 per cent to US$1.935 billion compared to the same period in 2024 on an annualised premium equivalent (APE) basis. The new business contractual service margin reached US$1.158 billion, representing year-on-year growth of 27 per cent. These results underscore the company's ability to generate value and respond to evolving customer needs across its 10 Asian markets.
In a strategic move to strengthen its financial position, FWD refinanced US$1.15 billion of debt in September and redeemed US$500 million of debt by primarily utilising proceeds from its recent initial public offering (IPO). These actions reduced leverage to 21.8 per cent on a proforma basis as at 30 June 2025 and lowered annualised financing costs by approximately US$72 million. Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, “We’re thrilled to report strong new business results, powered by organic growth across most of the 10 Asian markets where FWD Group operates. A positive indicator of value creation for our shareholders is the surge in our new business contractual service margin, which continues to strengthen our CSM balance and boost earnings over time.”
Exceptional demand from both local and visiting customers drove strong new business growth in Hong Kong SAR & 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. In Japan, new business sales growth was supported by solid performance in the individual protection business and the company’s recent entry into the retirement and savings market. The low-interest rate environment continued to weigh on new business indicators in the Thailand & Cambodia reporting segment.
FWD Group has introduced over 40 new products in 2025 to anticipate and respond to rapidly evolving customer needs for protection, health, and savings. The company's customer-led and tech-enabled approach aims to deliver innovative propositions and a simpler insurance experience. For more information, visit www.fwd.com.
