By BusinessWorld,Cedtyclea
Copyright bworldonline
FWD LIFE Insurance Corp. (FWD Life Philippines) recorded a new business annual premium equivalent (NBAPE) of P4.6 billion in the first half, driven by its product offerings and its expanded network.
This marked a 39% increase from the same period last year and was the second highest in the industry in terms of new business premiums on a singleton basis, the insurer said in a statement.
This also outpaced the life industry’s overall NBAPE growth in the period, it added. “FWD’s performance significantly outpaced the industry average, highlighting its ability to deliver growth well above market trends.”
The insurer also ranked first in single-pay premiums in the period.
“These milestones not only strengthen our position in the industry but also reflect the trust our customers place in us and the relentless dedication of our teams nationwide. Our consistency is a testament to protecting more Filipino lives and our vision of changing the way people feel about insurance,” FWD Life Philippines President and Chief Executive Officer Soon Liang Lau said.
FWD Life Philippines’ premium income stood at P39.85 billion in 2024, while its net profit was at P848.51 million, Insurance Commission data showed. — A.M.C. Sy
