FWD Group (1828) Q1 2025 earnings summary

Executive summary

• Achieved exceptionally strong new business growth in Q1 2025, driven by a customer-led strategy and rapid product innovation.

• Introduced 10 new products in the quarter to address evolving customer needs in protection, health, and savings.

Financial highlights

• New business contractual service margin (CSM) grew 55% year-over-year to US$465 million for Q1 2025.

• New business sales (APE) increased 46% year-over-year to US$679 million.

• Value of new business (VNB) rose 32% year-over-year to US$287 million.

Outlook and guidance

• Management remains focused on prudent risk management and is preparing for a range of macroeconomic scenarios.