FWD Life Insurance ranks among the top insurers in the Philippines

It accumulated a total of $81m in NBAPE.

FWD Life Insurance (FWD Philippines) ascended to become the third top life insurer in the Philippines in less than a decade, according to the Insurance Commission’s (IC) full-year 2023 report on New Business Annual Premium Equivalent (NBAPE).

With a total NBAPE of $81m (P4.59b), FWD Philippines leapt from sixth place in 2022 to third in a year.

ALSO READ: FWD Hong Kong jumps twofold in new business APE in 2023

"We are changing the way people perceive insurance, especially in a country with an insurance penetration rate of less than 2%,” FWD Philippines CEO and President, Antonio Manuel “Jumbing” De Rosas said in a press statement.

On top of this, FWD Philippines is expanding its distribution network and forming key partnerships, including collaboration with GCash, the country’s leading mobile wallet.

($1.00 = P56.52)

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