FWD Group Holdings Limited has announced a record net profit after tax of US$172 million for the six months ended 30 June 2026, a three-fold increase compared to the same period in 2025. This impressive result underscores the company's ability to sustain growth and convert it into rising bottom-line profitability, as highlighted by Group Chief Executive Officer Huynh Thanh Phong.
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 new business contractual service margin grew 25% year-on-year to US$996 million.
Shareholder value creation indicators also trended 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. The Group retained a strong solvency ratio of 203% after adopting economic value-based solvency regulation in Japan.
In May, FWD Group announced a key hire 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 Group.
Phong commented, “FWD Group had a very strong start to our first full year as a listed company. Once again, we’ve demonstrated our ability to sustain growth, and to convert that growth into rising bottom-line profitability, while expanding margins. This was driven by the diversification built into our geographic footprint and multi-channel distribution model over the past 13 years, as well as a capital structure that positions FWD Group well for the future.”
In Hong Kong SAR, the company's home market, 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 experienced 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 continues to fuel the longevity economy.
In Thailand, the focus on profitable new business continued in the company's market-leading exclusive bancassurance partnership with Siam Commercial Bank and agency distribution channels. The transition to a new Chief Executive Officer for Thailand was completed in May when Khun Knattapisit Krutkrongchai (KK) joined the company. Strong growth in Expansion Markets – comprised of Indonesia, Malaysia, the Philippines, Singapore, and Vietnam – was achieved despite macroeconomic uncertainty in some countries in this segment.
Phong added, “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.”
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 the associated global energy economic shocks, showed that most of Asia’s middle-class feel financially anxious and underprepared for retirement.
