FWD Group Reports Strong First Quarter Results with 18% Rise in New Business Contractual Service Margin

FWD Group Holdings Limited (1828.HK) today reported strong first quarter new business highlights for the three months ended 31 March 2026, with new business sales rising 4% to US$720 million on an annualised premium equivalent (APE) basis compared to the same period in 2025. The company’s new business contractual service margin (CSM) reached US$556 million, reflecting year-on-year growth of 18%.

The results underscore FWD’s consistent track record of performance and growth across its pan-Asian footprint. Huynh Thanh Phong, Group Chief Executive Officer and Executive Director, attributed the performance to Japan and the Expansion Markets in Southeast Asia, alongside a solid showing from Hong Kong SAR despite a high base effect from a record first quarter in 2025.

“This is another strong set of results, reflecting our consistent track record of performance, growth, and the diversified pan-Asian footprint and distribution model of FWD Group,” Phong said. The company introduced 11 new products across the region during the quarter.

A FWD Group consumer outlook survey released in February 2026 revealed that a majority of Asia’s middle-class feel financially anxious and underprepared for retirement, underscoring the growing need for insurance and savings solutions. “At FWD Group, we have confidence over the long-term that the rising middle-class trend in Asia will continue, despite the near-term impacts of external shocks on economies and consumers in the region,” Phong added.

The Hong Kong SAR & Macau SAR reporting segment delivered continued growth compared to the record first quarter of 2025, driven by both domestic and financial hub-related demand. Japan reported strong growth, benefiting from its strategic expansion into the retirement and savings segment in mid-2025, alongside its long-standing protection business. The Expansion Markets segment, comprising Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, posted excellent growth, fueled by the broker and independent financial advisor channel and solid bancassurance results.

In the Thailand & Cambodia segment, the focus on developing quality new business continued amid sustained growth headwinds from the lower rate environment in Thailand. The company announced that 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.

The outlook for the high-net-worth segment, served by FWD Private, remains positive, particularly given the strength of financial hubs like Hong Kong SAR. FWD Group, which serves approximately 40 million customers across 10 markets, continues to leverage its customer-led and tech-enabled approach to deliver innovative propositions and a simpler insurance experience. The company is listed on the main board of the Hong Kong Stock Exchange under stock code 1828. More information is available at www.fwd.com.

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