FWD Group Drives Regional Expansion with New Leaders

FWD Group is making a bold move to expand its presence in the region, and it's not just a matter of adding more branches. The company has appointed new leaders to drive this growth, with a clear vision to increase its market share.

These new leaders bring with them a wealth of experience and expertise, having worked with top companies in the industry. Their appointment is a strategic move to tap into their skills and knowledge.

Under the leadership of these new executives, FWD Group aims to strengthen its presence in the market and increase its customer base. This expansion is expected to bring in significant revenue for the company.

The company's focus on regional expansion is a testament to its commitment to growth and development. With a solid team in place, FWD Group is well-equipped to take on new challenges and opportunities.

FWD Group has been expanding its presence in the region, with a significant presence in Hong Kong and Singapore.

The company has established a strong foundation in these markets, with a long history dating back to 1972.

FWD Group has also been focused on innovation, leveraging technology to enhance customer experience and improve operational efficiency.

FWD Insurance Berhad has appointed a new CEO for its Takaful business. Chowla, with over 20 years of experience in insurance, joined FWD in 2023.

Chowla's leadership will be crucial in advancing FWD's objectives in Malaysia's Takaful sector. As a customer-led company, FWD aims to meet the protection needs of Malaysians with Shariah-compliant products.

Chowla is excited to lead FWD's efforts in changing the way people feel about Takaful in Malaysia. He also plans to further scale the business and contribute to the community.

FWD Group managing director Binayak Dutta believes Chowla's leadership will be pivotal in driving growth, scale, and innovation in the business.

FWD Group has been supplying insurance and related services to PCPD, a company involved in developing and managing property and infrastructure projects.

FWD Group's services to PCPD include insurance services and products, priced according to market rates for similar offerings.

The directors of PCPD have endorsed the agreement, affirming that the transactions fall within the normal business scope of the group.

FWD Group is a pan-Asian life and health insurance enterprise, established in 2013, serving more than 12 million customers in ten markets.

PCPD and FWD Group have agreed to provide other insurance and related services and products as mutually agreed upon from time to time.

FWD Group's services to PCPD are expected to be offered at standard commercial conditions, reflecting arm's length transactions.

FWD Group has expanded to operate in 10 markets, including Japan, Singapore, the Philippines, Indonesia, Vietnam, Malaysia, and Cambodia.

The company has made notable acquisitions, such as MetLife's business in Hong Kong and SCB Life Assurance in Thailand.

FWD provides a range of insurance products, including life and medical insurance, general insurance, employee benefits, and health services like FWD HealthyMe.

Here are the geographic business segments of FWD Group, along with their respective underlying VNB growth during the first nine months of 2024:

Mak See Sen has been appointed as the new CEO of FWD Insurance Berhad, taking over from Aman Chowla. Mak brings 24 years of experience in senior roles at major insurers like Manulife and Prudential.

FWD Insurance Berhad has recently expanded its operations in Malaysia and has brought its insurance and takaful entities under one roof in a new Kuala Lumpur facility. This move aims to improve efficiency and streamline services.

Mak See Sen's experience in leading and developing insurance businesses across Asia will be invaluable as FWD scales up its Malaysian life insurance business. His focus on innovative and customer-led strategies will help build a strong foundation for the company.

FWD has launched initiatives to improve financial literacy in Malaysia, including the JA SparktheDream program, which extends its financial education initiative to Malaysia from other parts of Asia.

FWD Group has announced a strong business growth update for the APAC region. They've seen significant growth in their new business value, with a value of US$623 million and underlying year-on-year growth of 16 per cent.

This growth can be attributed to various factors, including their commitment to being a customer-led company. FWD Group's CEO, Huynh Thanh Phong, emphasizes this focus, stating that it has delivered another solid set of new business results.

All four geographic business segments – Hong Kong SAR & Macau SAR, Thailand & Cambodia, Japan, and Emerging Markets – have delivered underlying new business value growth during the first nine months of 2024. This indicates a broad-based growth across different markets.

New business sales growth was particularly strong in Hong Kong SAR & Macau SAR, driven by local demand and the return of Mainland Chinese visitors. Emerging Markets also posted continued new business sales growth momentum, with stand-out performances from the Philippines and Singapore.

Here's a breakdown of the new business sales growth across different markets:

FWD Group's focus on innovation and customer experience is also evident in their partnership with Microsoft to shape the future of AI-driven insurance experiences. This collaboration aims to enhance the customer experience and operations in areas like acquisition, marketing, channel and agent performance, underwriting, claims, and customer service.

FWD Group has a strong commitment to community involvement and corporate social responsibility.

From 2017-2020, FWD Group sponsored the North Pole Marathon, supporting environmental protection efforts.

The company collaborated with EcoMatcher to plant forests in the Philippines, Thailand, and Indonesia.

In April 2020, FWD Philippines launched a charity drive to donate to healthcare workers and provide essential supplies.

The company provided support across its operational regions during the pandemic.

In 2022, FWD collaborated with Junior Achievement Asia Pacific to introduce a program teaching financial literacy and social awareness to primary school students.

FWD initiated the 10 Grants in 10 Markets program to support charitable programs focused on financial inclusion in 2023.