FWD Group Reports 37% New Business Growth and Strategic Debt Reduction

FWD Group Holdings Limited reported substantial new business growth for the nine months ended 30 September 2025, with new business sales increasing 37 percent to US$1.935 billion compared to the same period in 2024 on an annualised premium equivalent basis. The company also achieved new business contractual service margin of US$1.158 billion, representing year-on-year growth of 27 percent.

The insurance group executed multiple strategic capital management actions that significantly 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 actions reduced the company's leverage to 21.8 percent and lowered annualised financing costs by approximately US$72 million, creating substantial savings that benefit shareholders and enhance financial flexibility.

Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, stated that the strong results were powered by organic growth across most of the 10 Asian markets where the company operates. He emphasized that the surge in new business contractual service margin represents positive value creation for shareholders while strengthening the CSM balance and boosting earnings over time.

The company's strategic refinancing activities, combined with the successful IPO in July, have positioned FWD Group to accelerate its customer-led growth strategy and advance risk management priorities. According to Huynh Thanh Phong, the significant decrease in financing costs and leverage delivers direct benefits to shareholders while enabling more aggressive market expansion.

Regional performance varied across FWD Group's operating markets. Exceptional demand from both local and visiting customers continued to drive strong new business growth in Hong Kong SAR and Macau SAR. Emerging markets demonstrated particularly robust performance with strong double-digit growth in new business sales reflecting momentum in Singapore, Malaysia, the Philippines, and the company's joint venture in Indonesia, BRI Life.

In Japan, new business sales growth reflected solid performance in the individual protection business and the company's recent entry into the retirement and savings market. However, the Thailand and Cambodia reporting segment faced challenges as the low-interest rate environment continued to weigh on new business indicators.

Throughout 2025, FWD Group has continued to anticipate and respond to rapidly evolving customer needs for protection, health, and savings products. The company introduced over 40 new products this year, demonstrating its commitment to innovation in meeting market demands. For additional information about the company's operations and performance, visit https://www.fwd.com.

The combination of strong organic growth across multiple markets and strategic financial management positions FWD Group for sustained expansion in Asia's rapidly growing insurance markets. The reduction in financing costs and leverage provides the company with enhanced capacity to invest in product development and market penetration while maintaining financial stability.