FWD Group Holdings Limited (1828.HK) has 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 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 underpinned by new business sales of US$1.35 billion on an annualised premium equivalent (APE) basis, up 7% from the prior corresponding period. The new business contractual service margin reached US$996 million, reflecting a year-on-year growth of 25%. These results demonstrate the company's ability to sustain growth and convert it into rising bottom-line profitability while expanding margins, according to Group Chief Executive Officer Huynh Thanh Phong.
Shareholder value creation indicators continued to trend 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. FWD Group retained a strong solvency ratio of 203%, even after adopting economic value-based solvency regulation in Japan.
The company made strategic moves during the period, 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, FWD received globally recognised certification from the International Organisation for Standardisation/International Electrotechnical Commission for the development, procurement, deployment, and use of artificial intelligence (AI) systems, achieving the ISO/IEC 42001 standard. This reflects the growing maturity and responsible use of AI at FWD Group.
In its 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 saw excellent growth driven by the company's expansion into the savings and retirement needs segment in July 2025, complementing its existing protection business as a rapidly ageing society fuels the longevity economy. In Thailand, the focus on profitable new business continued through its exclusive bancassurance partnership with Siam Commercial Bank and agency distribution channels. The transition to a new CEO for Thailand was completed in May with the appointment of Khun Knattapisit Krutkrongchai.
Strong growth was also achieved in Expansion Markets, comprising Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, despite macroeconomic uncertainty in some countries. Across the region, FWD introduced 21 new products in the first half of 2026 in response to emerging customer needs.
Huynh Thanh Phong commented, "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."
The company's 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. This underscores the importance of FWD's mission to change the way people feel about insurance and address the financial needs of the region's growing middle class.
