FWD Group Holdings Limited (1828.HK) announced its interim results for the six months ended 30 June 2026, revealing a tripling of net profit after tax to US$172 million, with earnings per share of US$0.13. This record result underscores the company's robust performance in its first full year as a listed entity, driven by strategic diversification and operational efficiency.
New business sales rose seven per cent to US$1.35 billion on an annualised premium equivalent (APE) basis, while new business contractual service margin grew 25 per cent to US$996 million. Operating profit after tax increased 20 per cent to US$298 million, with positive contributions from all four reportable segments: Hong Kong SAR & Macau SAR; Thailand & Cambodia; Japan; and Expansion Markets. These figures reflect the company's ability to sustain growth and convert it into higher profitability, as highlighted by Group Chief Executive Officer Huynh Thanh Phong.
Shareholder value creation indicators also trended positively. Comprehensive tangible equity rose five per cent to US$8.83 billion, and Group embedded value increased five per cent to US$6.95 billion compared to 31 December 2025. The Group retained a solvency ratio of 203 per cent, even after adopting economic value-based solvency regulation in Japan. This financial strength positions FWD Group well for future opportunities.
Strategically, FWD Group made significant moves to bolster its high-net-worth (HNW) business, announcing a key hire in May to serve the global HNW insurance market with diversified asset allocation, wealth management, and legacy planning. The company also achieved a globally recognised certification in July for the responsible use of artificial intelligence, meeting the ISO/IEC 42001 standard, which reflects its commitment to technological innovation and governance.
In its home market of Hong Kong SAR, momentum continued despite a record prior-year growth, supported by resilient domestic demand and the city's role as a major cross-border wealth hub. Japan delivered excellent growth driven by expansion into the savings and retirement needs segment in July 2025, complementing its existing protection business in a rapidly ageing society. In Thailand, the focus on profitable new business continued through its exclusive bancassurance partnership with Siam Commercial Bank and agency channels, with a new CEO, Khun Knattapisit Krutkrongchai, joining in May.
Expansion Markets, comprising Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, achieved strong growth despite macroeconomic uncertainty in some countries. Across the region, FWD introduced 21 new products in the first half of 2026 to address emerging customer needs, particularly around financial anxiety and retirement preparedness, as highlighted by a consumer outlook survey released in February 2026. The survey, conducted before the Middle East conflict and energy shocks, revealed that most of Asia's middle-class feel financially anxious and underprepared for retirement.
These results demonstrate FWD Group's strong track record as a listed company serving over 40 million customers across 10 markets in Asia. With a customer-led and tech-enabled approach, the company continues to transform the insurance experience. For more information, visit www.fwd.com.
