FWD Group’s new business sales rise 46% to $679m in Q1

It saw a strong growth trajectory in Hong Kong and Macau.

FWD Group Holdings saw its new business sales (APE) grow 46% year-on-year (YoY) to $679m in Q1 2025, its latest financial update showed.

Value of new business (VNB) rose by 32% YoY to $287m during the same quarter, from $215m a year earlier.

New business contractual service margin (new business CSM) grew 55% YoY to $465m.

In Hong Kong & Macau, FWD Group said that it saw a strong trajectory of growth in new business sales and new business CSM, reflecting demand from both local and Mainland Chinese visitor customers.’

In Thailand and Cambodia, however, new business indicators were impacted by “weaker economic conditions as well as lower interest rates,” the group said.

The emerging markets segment saw double digit growth in new business sales. Japan also posted “steady new business indicators,” FWD Group said.