FWD Group Holdings Limited (1828.HK) 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 first half of 2025. The company’s earnings per share stood at US$0.13. Operating profit after tax rose 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 strong performance was driven by new business sales, which grew 7% to US$1.35 billion on an annualised premium equivalent (APE) basis. The new business contractual service margin increased 25% year-on-year to US$996 million. Shareholder value creation indicators also trended positively, with comprehensive tangible equity up 5% to US$8.83 billion and group embedded value up 5% to US$6.95 billion compared to 31 December 2025. The group retained a solvency ratio of 203% after adopting economic value-based solvency regulation in Japan.
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 showed excellent growth, driven by expansion into the savings and retirement needs segment in July 2025, complementing its existing protection business as the rapidly ageing society fuels the longevity economy. In Thailand, the focus on profitable new business continued in the company’s 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.
Expansion Markets, comprising Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, achieved strong growth despite macroeconomic uncertainty in some countries. 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 showed that most of Asia’s middle-class feel financially anxious and underprepared for retirement.
FWD Group also 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 the 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, reflecting the growing maturity and responsible use of AI at FWD Group.
These results underscore FWD Group’s strong track record as a listed company serving more than 40 million customers across 10 markets in Asia. The company remains focused on anchoring around the customer, aided by transformational technological innovation. For more information, visit www.fwd.com.
