FWD Group Holdings Limited (1828.HK) announced a record net profit after tax of US$172 million for the first half of 2026, a three-fold increase from the same period in 2025. The company attributed its strong performance to a diversified geographic footprint and multi-channel distribution model, which have been key to converting growth into rising bottom-line profitability. Group Chief Executive Officer Huynh Thanh Phong noted, “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.”
New business sales rose 7% to US$1.35 billion on an annualised premium equivalent (APE) basis, while the new business contractual service margin grew 25% year-on-year to US$996 million. Operating profit after tax increased 20% to US$298 million, with positive contributions from all four reportable segments: Hong Kong SAR & Macau SAR; Thailand & Cambodia; Japan; and Expansion Markets. The company also reported a 5% increase in comprehensive tangible equity to US$8.83 billion and a 5% rise in Group embedded value to US$6.95 billion compared to 31 December 2025. FWD Group maintained a solvency ratio of 203% on a prescribed capital requirement basis.
In Hong Kong SAR, the company’s home market, momentum continued despite record prior-year growth, supported by resilient domestic demand and the city’s role as a major cross-border wealth hub. Japan saw excellent growth, driven by the expansion into the savings and retirement needs segment launched in July 2025, which complements its existing protection business in a rapidly ageing society. Thailand continued to focus on profitable new business through its exclusive bancassurance partnership with Siam Commercial Bank and agency channels, with a new CEO, Khun Knattapisit Krutkrongchai (KK), joining in May. Expansion Markets – comprising Indonesia, Malaysia, the Philippines, Singapore, and Vietnam – achieved strong growth despite macroeconomic uncertainties in some countries.
FWD Group also highlighted strategic initiatives, including 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. In July, the company received ISO/IEC 42001 certification from the International Organisation for Standardisation/International Electrotechnical Commission for the development, procurement, deployment, and use of artificial intelligence (AI) systems, reflecting the growing maturity and responsible use of AI.
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 associated global energy economic shocks, showed that most of Asia’s middle-class feel financially anxious and underprepared for retirement. Phong added, “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.”
