The company reported an operating profit after tax of US$223 million, with positive contributions from all four of its geographic business segments: Hong Kong SAR & Macau SAR, Thailand & Cambodia, Japan, and Emerging Markets. A notable highlight of the period was the record dividends, exceeding US$600 million, received from these segments.
The company also achieved a new business contractual service margin of US$573 million, reflecting a year-on-year growth of 26 percent on an underlying basis. The value of new business was reported at US$404 million, showing a 14 percent year-on-year growth.
In 2024, FWD successfully issued US$1.5 billion in subordinated notes due in 2029 and 2031 to refinance its debt securities. Additionally, the company secured total undrawn committed credit facilities amounting to US$1.185 billion, further strengthening its financial position.
In May, FWD introduced a new initiative called FWD HealthyMe, aimed at becoming a lifelong partner to customers across Asia for their health needs. This new business utilises the latest developments in health technology and research to provide diagnostic services, alongside comprehensive accident and health insurance, building upon FWD’s existing life insurance, critical illness, and medical offerings.
The company also maintained its position in the top ranks of the insurance industry, being placed sixth in the 2024 Million Dollar Round Table (MDRT) Top 10 Multinational Companies rankings in July. This marks the third consecutive year FWD has achieved this recognition. The MDRT is a global independent association, recognised as a standard of excellence for members serving clients in the insurance industry.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, expressed satisfaction with the company’s performance. “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,” he said.
He added, “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.”
