FWD Life Philippines’ NBAPE jumps 57% in Q1 – BusinessWorld Online
FWD LIFE Insurance Corp. (FWD Life Philippines) saw its new business annual premium equivalent (NBAPE) surge by 57% year on year to P2.5 billion in the first three months of the year.
“This achievement is more than just a number — it is a powerful reflection of our collective commitment to changing the way people feel about insurance. As the insurer of the next generation, we put our customers at the heart of everything we do and commit to support nation-building by offering innovative and accessible insurance products, promoting financial inclusion, and enabling every Filipino to build their best future and truly celebrate living,” former FWD Philippines President and Chief Executive Officer Antonio Manuel G. De Rosas said in a statement.
The life insurer has appointed Lau Soon Liang as its new president and chief executive officer starting June, subject to regulatory approvals, it announced last week. Mr. Lau succeeded Mr. De Rosas who has held the post since March 2023 and has now transitioned to an advisory role.
The company’s first-quarter NBAPE growth was among the fastest in the industry, FWD Philippines said.
“In addition to securing the number one ranking among life insurers in the Philippines, FWD Philippines also captures the top two spot on a combined basis,” it added,
The life insurance industry’s premium income rose by 13.96% to P99.9 billion in the first quarter.
Life insurers’ NBAPE increased by 12.92% to P18.86 billion, while the sector’s net income rose by 12.22% to P10.83 billion. — A.M.C. Sy
