FWD Group Holdings has announced strong new business growth highlights for the nine months ended 30 September 2024.
These highlights include:
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Value of new business (VNB) of $623m, with underlying year-on-year growth of 16%, compared to the first nine months of 2023.
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New business sales of $1,379m, up 13% compared to the first nine months of 2023.
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Announced agreement with Roche for diagnostic-driven health insurance innovation in October, as part of the new FWD HealthyMe accident and health business, serving the lifelong health needs of customers.
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Extended INSEAD partnership in September for a further four years, to provide world-class leadership development to FWD agency leaders.
ll four geographic business segments – Hong Kong and Macau; Thailand & Cambodia; Japan; and Emerging Markets – delivered underlying VNB growth during the first nine months of 2024.
New business sales growth was particularly strong in Hong Kong and Macau, reflecting local demand as well as the return of mainland Chinese visitors.
Emerging Markets posted continued new business sales growth momentum, with stand-out performances from the Philippines and Singapore, partly offset by continued industry-wide headwinds in Vietnam.
In Japan, modest new business sales growth was driven by demand for individual protection products.
While new business sales in Thailand were impacted by economic uncertainty, FWD remains well positioned as a leader in the local market.
Established in 2013, FWD Group is a pan-Asian life and health insurance business with more than 12m customers across 10 markets.