FWD Group Reports Strong Q1 2026 New Business Growth, Driven by Japan and Expansion Markets
FWD Group's first-quarter results show a 4% increase in new business sales to $720 million, with new business contractual service margin up 18%, highlighting consistent performance amid regional economic headwinds.
FWD Group Holdings Limited (1828.HK) reported robust new business figures for the first quarter of 2026, underscoring its consistent track record of financial performance and strategic expansion across Asia. The company announced new business sales of $720 million on an annualised premium equivalent (APE) basis, a 4% increase compared to the same period in 2025. Notably, new business contractual service margin reached $556 million, reflecting 18% year-on-year growth.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, attributed the results to the company's diversified pan-Asian footprint and distribution model. "Japan and our Expansion Markets in Southeast Asia were key drivers of growth, alongside another solid performance from Hong Kong SAR, despite the high base effect from a record first quarter comparison in 2025," he said. The Hong Kong SAR & Macau SAR segment continued to grow, driven by domestic and financial hub demand, while Japan's strong performance was boosted by its strategic expansion into the retirement and savings segment in mid-2025. The Expansion Markets—comprising Indonesia, Malaysia, the Philippines, Singapore, and Vietnam—posted excellent growth, supported by the broker and independent financial advisor channel and solid bancassurance results.
In the Thailand & Cambodia segment, the focus remains on developing quality new business amid sustained growth headwinds from the lower rate environment in Thailand. As previously announced, Khun Knattapisit Krutkrongchai (KK) will join FWD as Chief Executive Officer, Thailand, effective 11 May 2026, subject to regulatory approvals. KK brings nearly 30 years of experience, most recently as CEO of Krungthai-AXA.
FWD Group introduced 11 new products across the region during the quarter. The company's consumer outlook survey, released in February 2026, revealed that the majority of Asia's middle-class feel financially anxious and underprepared for retirement. This aligns with FWD's long-term confidence in the rising middle-class trend in Asia, despite near-term external shocks. Huynh Thanh Phong added, "The outlook for the high-net-worth segment, served by FWD Private, remains positive, particularly given the strength and confidence in financial hubs like Hong Kong SAR."
FWD Group, a pan-Asian life and health insurance business, serves approximately 40 million customers across 10 markets, including BRI Life in Indonesia. Established in 2013, the company operates in some of the fastest-growing insurance markets globally and is listed on the Hong Kong Stock Exchange. More information is available at www.fwd.com.
The unaudited results for the three months ended 31 March 2026 are compared to the same period in 2025, with growth rates on a constant exchange rate basis. New business sales are calculated on an APE basis, based on 100% annualised first year premiums and 10% single premiums. The original release can be viewed at www.newmediawire.com.