FWD Hong Kong surpasses industry average for new business growth

FWD Hong Kong reported a year-on-year growth of 53 percent in new business in annual premium equivalent for the first three quarters of 2024 – outperforming the industry average – driven by double-digit growth across all distribution channels.

Among them, its bancassurance channel recorded a 124 percent year-on-year increase, tenfold surpassing the industry average of just 12 percent, the insurer revealed in a statement on Friday.

The company said its business size in Hong Kong continues to rank among the top five pan-Asian insurers.

Ken Lau, FWD executive director for Hong Kong shared that this steady growth comes not only from its sales channels but also from the company’s strategy, which strengthens its focus on the offshore market, including mainland visitors.