FWD Group Holdings Limited (1828.HK) reported strong new business highlights for the first quarter ended March 31, 2026, continuing its consistent track record of financial performance. New business sales rose 4% to $720 million compared to the same period in 2025 on an annualised premium equivalent (APE) basis. The new business contractual service margin reached $556 million, an 18% year-on-year increase.
The company introduced 11 new products across the region during the quarter. A consumer outlook survey released by FWD Group in February 2026 indicated that the majority of Asia's middle-class feel financially anxious and underprepared for retirement, underscoring the need for insurance and savings solutions.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, "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. Japan and our Expansion Markets in Southeast Asia were key drivers of growth, alongside another solid performance from Hong Kong SAR, despite the high base effect from a record first quarter comparison in 2025."
Phong added, "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. The outlook for the high-net-worth segment, served by FWD Private, remains positive, particularly given the strength and confidence in financial hubs in the region like Hong Kong SAR where we are headquartered."
The Hong Kong SAR & Macau SAR reporting segment delivered continued growth in the first quarter of 2026 compared to the record high first quarter in 2025, reflecting 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, which includes Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, posted excellent growth, driven 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.
As previously announced, Khun Knattapisit Krutkrongchai (KK) will join FWD as Chief Executive Officer, Thailand, effective May 11, 2026, subject to relevant regulatory approvals. KK is a seasoned insurance executive with almost 30 years of experience, most recently as Chief Executive Officer of Krungthai-AXA.
FWD Group is a pan-Asian life and health insurance business serving approximately 40 million customers across 10 markets. The company's customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products, and a simpler insurance experience. For more information, visit www.fwd.com.
