"Our Southeast Asia markets (comprising Thailand (and Cambodia), the Philippines, Indonesia, Singapore, Vietnam and Malaysia) contributed approximately 50% of our new business CSM in 2024," the prospectus says.
FWD Group Holdings announced on May 19 it has refiled a Main Board listing application with Hong Kong Exchanges and Clearing Limited (HKEX). In its prospectus, FWD said its Hong Kong (and Macau), Thailand (and Cambodia), Japan and Emerging Markets operations contributed 34.2%, 32.6%, 15.7% and 17.5%, respectively, of new business contractual service margin (new business CSM) in 2024.
Southeast Asia represents some of the fastest growing insurance markets in the world with an expanding but underinsured population, the prospectus said.
