FWD Group (01828) has released a summary of its new business performance for the first quarter ended March 31, 2026. New business sales, measured by annualized new premiums, increased by 4% compared to the same period in 2025, reaching $720 million. The new business contract service margin stood at $556 million, marking a year-on-year growth of 18%. The company launched 11 new products across Pan-Asia during the quarter.
According to FWD’s consumer outlook survey released in February 2026, a majority of the middle class in Asia feel anxious about their financial situation and are inadequately prepared for retirement. FWD’s Chief Executive Officer and Executive Director, Huang Qingfeng, stated, "The group delivered strong results in the first quarter of 2026, building on a solid business foundation and growth momentum, which fully reflects our diversified Pan-Asian business layout and distribution model. Expansion markets such as Japan and Southeast Asia were the primary drivers of growth, while the Hong Kong Special Administrative Region maintained a steady performance despite a high base effect in the first quarter of 2025."
Huang Qingfeng added, "In the long term, FWD remains confident in the growth trend of Asia’s middle class, although short-term economic and consumer sentiment in the region may be affected by external factors. Given the robust market strength and positive market confidence demonstrated by financial hubs such as the Hong Kong SAR, where our headquarters is located, we are optimistic about the prospects of the high-net-worth customer segment served by FWD Private."
The Hong Kong SAR and Macau SAR divisions improved in the first quarter of 2026 compared to the record-high first quarter of 2025, reflecting strong local and financial hub-related demand. Japan reported robust growth, driven by its strategic expansion into the retirement and savings insurance sector in mid-2025 and its long-established protection business. The expansion market division—including Indonesia, Malaysia, the Philippines, Singapore, and Vietnam—achieved strong growth, supported by insurance brokerage and independent financial advisor channels, as well as steady bancassurance operations.
In Thailand and Cambodia, amid growth challenges in Thailand due to a declining interest rate environment, FWD continued to focus on developing high-quality new business. As previously announced, subject to regulatory approval, Knattapisit Krutkrongchai (KK) will assume the role of CEO of FWD Thailand on May 11, 2026. KK brings nearly 30 years of extensive experience in insurance management, including his most recent position as CEO of AXA Thailand.
Comments