HONG KONG, Aug. 27, 2024 /PRNewswire/ -- FWD Group Holdings Limited ("FWD Group" or "FWD") today announced strong half year results for the six months ended 30 June 2024.

• Operating profit after tax of US$223 million, reflecting positive contributions from all four geographic business segments – Hong Kong SAR & Macau SAR; Thailand & Cambodia; Japan; and Emerging Markets. Record dividends of over US$600 million year to date received from geographic business segments.
  
  
• New business contractual service margin of US$573 million, with underlyingⁱ year-on-year growth of 26 percent. Value of new business of US$404 million, with underlying year-on-year growth of 14 percent.
  
  
• Successfully issued US$1.5 billion in 2024 of subordinated notes due 2029 and 2031 to refinance debt securities; additionally, total undrawn committed credit facilities are US$1.185 billion.
  
  
• Announced new FWD HealthyMe business in May, which aims to be a partner to customers across Asia for their lifelong health needs, utilising the latest developments in health technology and research to provide diagnostic services alongside comprehensive accident and health insurance.
  
  
• Ranked number six in the 2024 Million Dollar Round Table ("MDRT") Top 10 Multinational Companies rankings in July, for the third consecutive year. MDRT is a global independent association recognised as a standard of excellence for members serving clients in the industry.

Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, "We're pleased to report solid financial results, demonstrating organic growth and operating profitability across FWD Group. Our performance reflects the scale we're building across our 10 markets in Asia and our focus on sustainable profitability.

"We're more determined than ever to give our customers the freedom to celebrate living, both now and in the future. That's also the driving force behind our new FWD HealthyMe business, which builds upon our existing life insurance, critical illness and medical offerings with comprehensive accident and health insurance," added Huynh Thanh Phong.

All four geographic business segments – Hong Kong SAR & Macau SAR; Thailand & Cambodia; Japan; and Emerging Markets – delivered operating profitability during the first six months of 2024, after reaching this milestone for the first time in 2023.

The Hong Kong SAR & Macau SAR segment delivered another strong performance, reflecting substantial growth from mainland Chinese visitors as well as robust local demand for quality insurance products. Thailand posted a solid contribution, reflecting a product mix shift to higher margin products. Growth in Japan demonstrated sustained focus on individual protection products. In Emerging Markets, strong growth was partly offset by ongoing market disruption in Vietnam.

About FWD Group

FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD's customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

For more information, please visit www.fwd.com