PR Newswire
14 Sep 2022, 10:28 GMT+10
HONG KONG, Sept. 14, 2022 /PRNewswire/ -- FWD Limited and FWD Group Limited - consolidated subsidiaries of FWD Group Holdings Limited ("FWD Group" or "the Company") - announced updates and additional information, including FWD Group's results for the six months ended 30 June 2022, as part of announcements made today to the Hong Kong Exchange ("HKEX") in relation to their respective listed notes and perpetual securities.
As detailed in the filing, FWD Group continued to deliver strong organic growth in the first half of 2022, with its value of new business ("VNB") reaching US$405 million, up 25% compared to the prior year period. The Company also reported that its segmental adjusted operating profit before tax was US$200 million, more than double the prior year period.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, "We continued our strong track record of consistently delivering organic growth, demonstrating that our strategy is working. In nine years, FWD Group reached critical scale and hit an inflection point. Our performance is even more impressive considering the headwinds that the industry and communities in Asia continue to face in navigating the COVID-19 pandemic this year.
"We are changing the way people feel about insurance through our customer-led approach, which combines our digitally-enabled platform and trusted distribution channels. Life insurance in Asia is a massive and underserved market and we are well-positioned to capture the region's digitally-savvy, rising middle class with our proven ability to make insurance easy."
Today's announcement provided bondholders with an update on the consent solicitation process. It also provided bondholders with additional information on the financial performance of FWD Group, the entity that will be substituted as issuer of the securities if the previously communicated proposals are implemented in full.
The announcements are available on the HKEX's website.
About FWD Group
FWD Group is a pan-Asian life insurance business with approximately 10 million customers across 10 markets, including some of the fastest growing insurance markets in the world. Established in 2013, FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.
For more information please visit www.fwd.com
SOURCE FWD Group Holdings Limited
Get a daily dose of Asia Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Bulletin.
More InformationHONG KONG: This week, Ronson Chan, chairman of the Hong Kong Journalists Association, was sentenced to five days jail for ...
WASHINGTON D.C.: In an interview with Reuters this week, U.S. commander General Chance Saltzman said the United States Space Force ...
As it did last year, the 2023 United Nations General Assembly has been debating what role the United Nations and ...
BATON ROUGE, Louisiana: Authorities said that Greg Lawson, who fled his 1991 trial in Louisiana for attempted murder 32 years ...
OTTAWA, Canada: During a joint news conference with Ukrainian President Volodymyr Zelenskyy in Canada's capital, Ottawa, Prime Minister Justin Trudeau ...
BEIJING, China: A respected Uyghur scholar, known for her extensive work in studying Uyghur folklore and traditions, has been sentenced ...
OTTAWA, Canada: As part of its plan to capitalize on strong travel demand and deploy fuel-efficient airplanes, this week, Air ...
LONDON, UK: This week, Adidas' newest running shoes, the Adizero Adios Pro Evo 1, went on sale for US$500. Worn ...
NEW YORK, New York - U.S. stocks remained on a slippery slope on Wednesday as interest rates continued to hover ...
SAN FRANCISCO, California: In a major update that will move it closer to popular artificial intelligence (AI) assistants, such as ...
YOKOHAMA, Japan: Joining a growing number of carmakers that are shifting to electric vehicles (EV) by the end of the ...
NEW YORK, New York - There was a major bust on Wall Street on Tuesday as investors continued to fret ...