3 April 2017 | Hong Kong
HONG KONG, 3 April 2017 – FWD Hong Kong & Macau (“FWD”) today announced record Value of New Business (VNB) at HK$1.127 billion, a 44% growth for 2016. The Annual Premium Equivalent (APE) grew by 36% to HK$2.629 billion. The excellent results were driven by strong business growth across all distribution channels — tied agency, bancasurrance, brokerage, and digital commerce.
“We are pleased that our dynamic business strategy produced commendable results in 2016, in particular the record sales and strong VNB growth,” said David Wong, Chief Executive Officer of FWD Hong Kong & Macau. “The keys to our continued success lie in our commitment to providing customers with innovative products and services, and creating new insurance experience by leveraging technology through our expanding multi-channel distribution.”
The strong performance across all the three business units of FWD in Hong Kong saw a profit before tax of HK$284 million1 in 2016.
FWD achieved promising performance across all distribution channels:
FWD Hong Kong received remarkable recognitions for its InsurTech development, such as:
2017 Strategic Initiatives
While continuing to reinforce our balanced, multi-channel distribution in 2017, FWD will be driving growth with three key strategic focuses: InsurTech, health solutions, and customer experience.
“InsurTech will continue to be the company’s key development area with a focus on mobile services, Internet of Things (IoT), and Big Data analytics. Riding on the success of FWD Drivamatics application and MotorSmart Insurance, as well as the instant withdrawal service enabled by integrating Tap & Go Payment Service to our iFWD digital commerce platform, we will soon be launching a series of innovative services to make insurance more convenient and easy to use as a part of daily life,” remarked David.
Paul Tse, Chief Marketing Officer, FWD Hong Kong & Macau, said, “This year FWD will continue to emphasise health solutions. While leveraging Big Data analytics to better understand our customers and anticipate protection needs, we will design more customised, collaborated and flexible offerings.”
“For transforming people’s experience with insurance, a case in point is the brand new FWD MAX lifestyle reward programme. It aims to encourage and reward people to live their passions through a suite of fun and unique contents and experiences related to Sports & Action, Music & Arts, Travel & Adventure, and Food & Wine! FWD MAX is leveraging technology and the synergy of partnership to make insurance more interesting as an integral part of people’s daily life”, added Paul.
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About FWD Hong Kong & Macau
FWD spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore and Vietnam. In Hong Kong, FWD offers life and medical insurance, general insurance, employee benefits, pension, and financial planning. The life insurance and general insurance operating entities have been assigned strong financial strength ratings by international rating agencies — FWD Life Insurance Company (Bermuda) Limited is rated “A3” by Moody’s and “A” by Fitch; and FWD General Insurance Company Limited is rated “A” by Fitch.
FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by leading digital technologies. Through this customer-led approach, FWD will achieve its vision to become the leading pan-Asian insurer that changes the way people feel about insurance.
Established in Asia in 2013, FWD is the insurance business arm of investment group, Pacific Century Group.
For more information please visit WWW.FWD.COM.HK or WWW.FWD.COM.MO.