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 same period in 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. New business sales increased 7% to US$1.35 billion on an annualised premium equivalent (APE) basis, while the new business contractual service margin grew 25% year-on-year to US$996 million.
The strong financial performance underscores FWD's ability to sustain growth and convert it into bottom-line profitability. Group Chief Executive Officer Huynh Thanh Phong attributed the results to the diversification built into the company's geographic footprint and multi-channel distribution model over the past 13 years, as well as a robust capital structure. The company's comprehensive tangible equity rose 5% to US$8.83 billion, and group embedded value increased 5% to US$6.95 billion compared to 31 December 2025. FWD retained a solvency ratio of 203% on a prescribed capital requirement basis, even after adopting economic value-based solvency regulation in Japan.
In its home market of Hong Kong SAR, momentum continued despite record prior-year growth, supported by resilient domestic demand and the city's status as a leading cross-border wealth hub. Japan saw excellent growth driven by the expansion into the savings and retirement needs segment in July 2025, complementing its existing protection business as the ageing society fuels the longevity economy. In Thailand, the company continued its focus on profitable new business through its exclusive bancassurance partnership with Siam Commercial Bank and agency channels. The transition to a new CEO for Thailand was completed in May when Khun Knattapisit Krutkrongchai joined the company. Strong growth in Expansion Markets (Indonesia, Malaysia, the Philippines, Singapore, and Vietnam) was achieved despite macroeconomic uncertainty in some countries.
FWD 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. 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. This reflects the growing maturity and responsible use of AI at FWD.
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, 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 highlights the importance of FWD's customer-led approach and its commitment to helping people feel better about insurance.
FWD Group serves over 40 million customers across 10 markets in Asia, including BRI Life in Indonesia. The company is listed on the Hong Kong Stock Exchange under the stock code 1828. For more information, visit www.fwd.com.
