FWD Group Holdings Limited (“FWD Group” or “FWD”) 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. This impressive performance underscores the company's ability to sustain growth and convert it into rising bottom-line profitability while expanding margins.
The company's new business sales increased by seven per cent to US$1.35 billion on an annualised premium equivalent (APE) basis, with new business contractual service margin reaching US$996 million, a year-on-year growth of 25 per cent. Operating profit after tax grew 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.
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. The Group retained a strong solvency ratio of 203 per cent, even after adopting economic value-based solvency regulation in Japan.
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 its 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.
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 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. Japan saw excellent growth 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 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 macroeconomic uncertainty in some countries in this segment.
“These results are the latest example of the strong track record we’re building as a listed company serving more than 40 million customers across 10 markets in Asia. At FWD Group, we remain heavily focused on anchoring around the customer – aided by the golden age of transformational technological innovation that we’re living in,” added Huynh Thanh Phong.
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 performance and strategic initiatives, positioning it well for continued growth in the dynamic Asian insurance market.
