FWD Group has continued to innovate and expand its offerings. In October, the company announced a partnership with Roche to develop diagnostic-driven health insurance solutions under its new FWD HealthyMe business. This initiative aims to address the evolving healthcare needs of customers.
The insurtech has seen a 16% year-on-year increase on its value of new business (VNB) currently at US$623 milliion.
New business sales are also at US$1,379 million, up 13% compared to the same period in 2023.
Additionally, FWD has extended its partnership with INSEAD for another four years, demonstrating its commitment to leadership development and talent cultivation.
To celebrate its 11th anniversary, FWD Group awarded 11 charitable grants focused on financial inclusion, career readiness, social entrepreneurship, health, and well-being.
All four geographic business segments – Hong Kong SAR & Macau SAR; 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 SAR & Macau SAR, 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.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, “At FWD, we pride ourselves on being a customer-led company and this commitment has delivered another solid set of new business results.”
He added: “During the quarter we continued to invest in our business, our distributors, and the communities where we operate, in line with our vision of changing the way people feel about insurance.”
