FWD Group (1828) Q3 2024 earnings summary

Executive summary

• Achieved value of new business (VNB) of US$623 million for the nine months ended 30 September 2024, representing 16% underlying year-on-year growth.

• New business sales reached US$1,379 million, up 13% compared to the same period in 2023.

• All four geographic segments delivered underlying VNB growth during the period.

Financial highlights

• VNB growth rates are calculated on a constant exchange rate basis and reflect updated actuarial assumptions post-COVID and market disruption in Vietnam.

• New business sales are measured on an annual premium equivalent basis.

Outlook and guidance

• Continued investment in business, distributors, and communities aligns with the vision to transform insurance perceptions.