FWD’s net profit halves in H1 2024

All four geographic business segments delivered operating profitability.

FWD’s six months to June (H1 2024) net profit dipped 50% year-on-year (YoY) to $3m, due to lower operating profit and contractual service margin (CSM) balance.

Although, the group’s operating profit after tax and CSM both marginally fell by 0.6% YoY (to $223m) and 1.2% YoY (to $4.69b), respectively.

Profits from operations were tempered by positive contributions across all four geographic segments: Hong Kong & Macau, Thailand & Cambodia, Japan, and Emerging Markets. 

Additionally, FWD received record dividends exceeding $600m from its geographic business segments year-to-date.

The new business CSM reached $573m, jumping 26% YoY, whilst the value of new business stood at $404m, marking a 14% climb.