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Hong Kong-based insurer FWD Group reported a surge in its H1 net profits by ~15x, to $47mn from $3mn a year prior. The strong earnings comes on the heels of its HKD 3.61bn ($466mn) IPO in July. The leap in profits was fueled by a 38 % rise in annualised premiums from new life policy sales, reaching $1.25bn. It was also helped by a drop in expenses by $65mn as last year’s one-time IPO and accounting‑change costs faded. Additionally, sales in Hong Kong and Macau doubled to $640mn, accounting for half of its group-wide business, with growth driven by both local customers and mainland Chinese visitors.
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