FWD Group Holdings Limited reported substantial new business growth for the nine months ended 30 September 2025, with 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, indicating strong value creation for shareholders.
The insurance group executed multiple strategic capital management actions that significantly strengthened 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 as at 30 June 2025 and lowered annualised financing costs by approximately US$72 million.
Group Chief Executive Officer and Executive Director Huynh Thanh Phong stated that the strong results were powered by organic growth across most of the 10 Asian markets where FWD Group operates. The company has continued to anticipate and respond to rapidly evolving customer needs for protection, health, and savings solutions, introducing over 40 new products in 2025 alone. More information about the company's operations can be found at https://www.fwd.com.
Market-specific performance showed exceptional demand from both local and visiting customers driving 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 its joint venture in Indonesia with BRI Life. Japan also showed new business sales growth, reflecting solid performance in the individual protection business and the company's recent entry into the retirement and savings market.
The financial improvements position FWD Group to accelerate its customer-led growth strategy and advance risk management priorities. The reduction in financing costs and leverage delivers direct benefits to shareholders while strengthening the company's ability to compete in Asia's rapidly growing insurance markets. The company's approach focuses on delivering innovative propositions and simpler insurance experiences to approximately 34 million customers across its operating markets.
This performance is particularly significant given the challenging economic environment in some markets, with the Thailand and Cambodia reporting segment experiencing pressure from the low-interest rate environment. The results demonstrate FWD Group's ability to navigate diverse market conditions while maintaining growth momentum across its pan-Asian operations.
