Multiple strategic capital management actions boost financial strength, reducing leverage and financing costs
HONG KONG, Nov 3, 2025 – (ACN Newswire) – FWD Group Holdings Limited (“FWD Group” or “FWD”) today announced strong new business growth for the nine months ended 30 September 2025[1].
- New business sales were up 37 per cent to US$1.935 billion compared to the same period in 2024 on an annualised premium equivalent (APE) basis.
- New business contractual service margin was US$1.158 billion, with year-on-year growth of 27 per cent.
- Refinanced US$1.15 billion of debt in September and redeemed US$500 million of debt by mainly utilising recent initial public offering (IPO) proceeds. This reduced leverage to 21.8 per cent[2] and lowered annualised financing costs by ~US$72 million.
- Continued to anticipate and respond to rapidly evolving customer needs for protection, health, and savings, with over 40 new products introduced in 2025.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, “We’re thrilled to report strong new business results, powered by organic growth across most of the 10 Asian markets where FWD Group operates. A positive indicator of value creation for our shareholders is the surge in our new business contractual service margin, which continues to strengthen our CSM balance and boost earnings over time.”
“In September, we seized a window in the debt markets for refinancing, and with the successful IPO in July, we’ve made great progress in reducing our overall debt. The significant decrease in financing costs and leverage delivers benefits to our shareholders and puts FWD Group in a prime position to accelerate our customer-led growth strategy and advance our risk management priorities,” added Huynh Thanh Phong.
Exceptional demand from both local and visiting customers continued to drive the strong new business growth in Hong Kong SAR & Macau SAR.
In Emerging Markets, strong double-digit growth in new business sales reflected momentum in Singapore, Malaysia, the Philippines and FWD Group’s joint venture in Indonesia, BRI Life.
In Japan, new business sales growth reflected solid performance in the individual protection business and the company’s recent entry into the retirement and savings market.
The low-interest rate environment continued to weigh on new business indicators in the Thailand & Cambodia reporting segment.
About FWD Group
FWD Group (1828.HK) is a pan-Asian life and health insurance business that serves approximately 34 million customers across 10 markets, including BRI Life in Indonesia. FWD’s customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828.
For more information, please visit www.fwd.com
For media inquiries, please contact: groupcommunications@fwd.com
Source: FWD Group Holdings Limited
[1] The results are for the nine months ended 30 September 2025 and are compared to the same period in 2024. Growth rates are represented on a constant exchange rate (CER) basis, unless otherwise indicated.
[2] On a proforma basis as at 30 June 2025.