FWD Hong Kong posts over 90% growth in new business FYP in the first three quarters of 2025[1]

Key business indicators significantly surpass industry average
Firmly ranks among the top five pan-Asian insurers in Hong Kong²

HONG KONG SAR – Media OutReach Newswire – 5 February 2026 – FWD Hong Kong (“FWD”) demonstrated strong growth momentum in the first three quarters of 2025, significantly outperforming the market. According to the Provisional Statistics on Hong Kong Long-Term Insurance Business – January to September 2025 from the Insurance Authority of Hong Kong:

• New business first year premium (FYP): Increased by a significant 93% year-on-year (YoY), exceeding the industry average growth of 56%.¹
• New business annual premium equivalent (APE): Grew by 74% YoY, surpassing the industry average growth of 43%.¹
• FWD ranked firmly among the top five pan-Asian insurer by business scale in Hong Kong.²

Ken Lau, Managing Director of Greater China and Hong Kong Chief Executive Officer, FWD, said, “FWD Hong Kong delivered outstanding business performance in the first three quarters of 2025, with key business indicators significantly surpassing the industry average, validating the effectiveness of our customer-led approach and multi-channel distribution strategy. Furthermore, Fitch Ratings has recently revised FWD Hong Kong’s Insurer Financial Strength (IFS) Ratings outlook to ‘Positive’, reflecting the market’s strong confidence in our business. These excellent results, combined with the official opening of ‘FWD Tower’ as our new headquarters in January this year, underscore our confidence in the Hong Kong market. FWD will continue to employ tech-enabled approach and provide innovative products, actively bridging the protection gaps in the market and changing the way people feel about insurance.”

During the first three quarters of 2025, FWD achieved strong growth in all distribution channels, with each channel posting double-digit gains or higher and surpassing the industry average:

• Tied agency channel: New business APE increased by 52% YoY, surpassing the industry average growth of 27%.³
• Bank channel: New business APE grew by 67% YoY, outperforming the industry average growth of 32%.³
• Brokerage channel: New business APE increased by 88% YoY, exceeding the industry average growth of 69%.³
• Online and direct platform: New business APE surged by 249% year-on-year, significantly outpacing the industry average growth of 111%.³

Revised IFS Ratings outlook reinforced financial strength

The robust financial position of FWD Hong Kong (FWD Life Insurance Company (Bermuda) Limited) has been affirmed by leading international rating agencies. At the end of last year, Fitch Ratings revised FWD Hong Kong’s IFS Ratings outlook to “Positive” from “Stable”. Together with the existing “A” IFS Ratings from Fitch and “A2” insurance financial strength ratings (IFSR) from Moody’s, these international recognitions continue to underscore FWD Hong Kong’s strong financial foundation.

^[1] Provisional Statistics on Hong Kong Long Term Insurance Business – January to September 2025, Insurance Authority of Hong Kong. The calculation combines individual and group businesses.

^[2] According to Provisional Statistics on Hong Kong Long Term Insurance Business – January to September 2025, Insurance Authority of Hong Kong, as well as FWD’s own assessment based on market information, FWD ranks among the top five pan-Asian insurers in Hong Kong in both new business FYP and new business case count rankings. Calculated based on individual and group businesses. Pan-Asian insurers refer to multinational insurers currently having a well-established operation in the Asian market with multiple distribution channels.

^[3] Provisional Statistics on Hong Kong Long Term Insurance Business – January to September 2025, Insurance Authority of Hong Kong. The calculation includes individual business only.

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The issuer is solely responsible for the content of this announcement.

About FWD Hong Kong

FWD Hong Kong is part of the FWD Group (1828.HK), a pan-Asian life and health insurance business that serves approximately 34 million customers across 10 markets, including BRI Life in Indonesia.

FWD Hong Kong has been assigned strong financial ratings by international agencies. It offers life and medical insurance, employee benefits, and financial planning.

FWD’s customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828.

For more information about FWD Hong Kong, please visit www.fwd.com.hk.