FWD Announces Updated Bond Consent Solicitation and Half-Year Results Release
HONG KONG, September 14, 2022 /PRNewswire/ — FWD Limited and FWD Group Limited – consolidated subsidiaries of FWD Group Holdings Limited (“FWD Group” or “the Company”) – have announced updates and additional information, including FWD Group’s results for the semester closed June 30, 2022in connection with announcements made today on the Hong Kong Stock Exchange (“HKEX”) regarding their respective listed bonds and perpetuals.
As detailed in the filing, FWD Group continued to generate strong organic growth in the first half of 2022, with value of new business (“NBV”) reaching US$405 million, up 25% compared to the same period of the previous year. The Company also reported that its adjusted operating profit by segment before tax was $200 millionmore than double the period of the previous year.
Huynh Thanh PhongGroup Chairman and Chief Executive and Executive Director of FWD Group, said: “We continued our strong track record of consistent organic growth, demonstrating that our strategy is working. In nine years, FWD Group has reached critical scale and reached an inflection point. performance is even more impressive considering the headwinds that the industry and communities in Asia continue to navigate the COVID-19 pandemic this year.
“We are changing the way people think about insurance through our customer-centric approach, which combines our digital platform and our trusted distribution channels. Asia is a massive, underserved market and we are well positioned to win over the region’s rising, digital middle class with our proven ability to make insurance easy. »
Today’s announcement provided bondholders with an update on the consent solicitation process. He also provided the bondholders with additional information on the financial performance of FWD Group, the entity that will replace the issuer of the securities if the previously communicated proposals are fully implemented.
Announcements are available on the HKEX website.
About FWD Group
FWD Group is a pan-Asian life insurance company with approximately 10 million customers in 10 markets, including some of the fastest growing insurance markets in the world. Founded in 2013, FWD aims to make the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-centric approach, FWD is committed to changing the way people think about insurance.
For more information, please visit www.fwd.com