FWD posts record $166m IFRS 17 profit

Annualised premium equivalent sales climbed to $2.5b during the year.

FWD Group Holdings Limited saw a net profit of $166m under IFRS 17, its highest on record. 

The insurer reported a 25% year-on-year (YoY) increase in new business sales for the year ended 31 December 2025, reaching $2.5b on an annualised premium equivalent (APE) basis.

New business contractual service margin (CSM) rose 18% YoY to $1.5b, according to the insurer’s first full-year results since listing in Hong Kong in July 2025.

Operating profit after tax increased 5% to $499m, with positive contributions from all four geographic reporting segments: Hong Kong SAR and Macau SAR; Thailand and Cambodia; Japan; and Emerging Markets.

Japan also delivered a solid performance as FWD expanded beyond its protection business into the retirement and savings segment. 

During the year, the insurer launched its first yen-denominated single-premium variable annuity product.

Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group said in a press release that the group will continue to focus on executing its strategy in high-growth Asian markets, with an emphasis on long-term sustainability and profitability.