FWD Group Reports 37% New Business Growth and Strategic Financial Strengthening

FWD Group Holdings Limited announced robust new business performance for the nine months ended September 30, 2025, with significant growth metrics and strategic financial improvements. The pan-Asian insurer reported new business sales of US$1.935 billion, representing a 37 percent increase compared to the same period in 2024 on an annualised premium equivalent basis. This growth was complemented by a 27 percent year-over-year increase in new business contractual service margin, which reached US$1.158 billion.

The company executed multiple strategic capital management actions that strengthened its financial position. In September, FWD Group refinanced US$1.15 billion of debt and redeemed US$500 million of debt primarily using proceeds from its recent initial public offering. These moves reduced the company's leverage to 21.8 percent on a proforma basis and lowered annualised financing costs by approximately US$72 million. The financial restructuring positions the company for more efficient capital deployment and enhanced shareholder value.

Group Chief Executive Officer and Executive Director Huynh Thanh Phong emphasized the organic growth driving these results across most of the 10 Asian markets where FWD operates. "We're thrilled to report strong new business results, powered by organic growth across most of the 10 Asian markets where FWD Group operates," said Huynh. "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."

The company's performance was driven by exceptional demand from both local and visiting customers in Hong Kong SAR and Macau SAR. Emerging markets showed particularly strong momentum, with double-digit growth in new business sales across Singapore, Malaysia, the Philippines, and the company's joint venture in Indonesia, BRI Life. Japan also contributed to the positive results with solid performance in individual protection business and the company's recent entry into the retirement and savings market.

FWD Group continued to anticipate and respond to rapidly evolving customer needs for protection, health, and savings solutions, introducing over 40 new products in 2025. However, the Thailand and Cambodia reporting segment faced challenges due to the persistent low-interest rate environment, which continued to weigh on new business indicators in those markets. For more information about the company's operations and performance, visit https://www.fwd.com.

The combination of strong operational performance and strategic financial management creates a foundation for FWD Group to accelerate its customer-led growth strategy while advancing risk management priorities. The reduced financing costs and improved leverage metrics provide the company with enhanced flexibility to pursue growth opportunities across its diverse Asian markets, positioning it well for continued expansion in the competitive insurance landscape.