FWD Group Holdings Limited reported substantial new business growth for the nine months ended 30 September 2025, with new business sales increasing 37 percent to US$1.935 billion compared to the same period in 2024 on an annualised premium equivalent basis. The company's new business contractual service margin reached US$1.158 billion, representing year-on-year growth of 27 percent, strengthening the company's financial foundation and future earnings potential.
The insurance group executed multiple strategic capital management actions that significantly improved its financial position. In September, FWD Group refinanced US$1.15 billion of debt and redeemed US$500 million of debt primarily using proceeds from its recent initial public offering. These actions reduced the company's leverage to 21.8 percent on a proforma basis and lowered annualised financing costs by approximately US$72 million, creating substantial value for shareholders.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, stated that the strong results were powered by organic growth across most of the 10 Asian markets where the company operates. He emphasized that the surge in new business contractual service margin serves as a positive indicator of value creation for shareholders, strengthening the CSM balance and boosting earnings over time. The company's successful debt refinancing and IPO have positioned FWD Group to accelerate its customer-led growth strategy and advance risk management priorities.
Exceptional demand from both local and visiting customers continued to drive strong new business growth in Hong Kong SAR and Macau SAR. In emerging markets, the company achieved strong double-digit growth in new business sales, reflecting momentum in Singapore, Malaysia, the Philippines, and FWD Group's joint venture in Indonesia, BRI Life. Japan also showed solid performance in individual protection business and the company's recent entry into the retirement and savings market contributed to growth, though the low-interest rate environment continued to weigh on new business indicators in the Thailand and Cambodia reporting segment.
Throughout 2025, FWD Group has continued to anticipate and respond to rapidly evolving customer needs for protection, health, and savings solutions, introducing over 40 new products. The company maintains its customer-led and tech-enabled approach to deliver innovative propositions and simpler insurance experiences across its markets. For additional information about the company's operations and performance, visit https://www.fwd.com.
