FWD Group Holdings Limited ("FWD Group" or "FWD") today reported strong first quarter new business highlights for the three months ended 31 March 2026, continuing its consistent track record of financial performance. New business sales reached US$720 million on an annualised premium equivalent (APE) basis, a four percent increase compared to the same period in 2025. The new business contractual service margin (CSM) grew by 18 percent year-on-year to US$556 million, reflecting the company's focus on value-driven growth.
The company introduced 11 new products across the region during the quarter. A consumer outlook survey released by FWD Group in February 2026 revealed that the majority of Asia's middle-class feel financially anxious and underprepared for retirement, underscoring the relevance of FWD's product innovation.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, commented, "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."
He 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."
Geographically, 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, driven by 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—comprising Indonesia, Malaysia, the Philippines, Singapore, and Vietnam—posted excellent growth, led 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 interest rate environment in Thailand.
The company also announced that Khun Knattapisit Krutkrongchai (KK) will join FWD as Chief Executive Officer, Thailand, effective 11 May 2026, subject to relevant regulatory approvals. KK is a seasoned insurance executive with nearly 30 years of experience, most recently serving as Chief Executive Officer of Krungthai-AXA.
FWD Group is a pan-Asian life and health insurance business that serves approximately 40 million customers across 10 markets. The company is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828. More information is available at www.fwd.com.
