FWD Life Insurance Corp. continued to grow faster than the industry in 2019 as it reported total premium income of P9.55 billion for the year, a 25 percent increase from its total premium income of P7.65 billion in 2018.
New business stated in annual premium equivalent (NB-APE) was at P2.94 billion in 2019.
With this, FWD Insurance has retained its number 8 ranking in the industry in terms of NB-APE, as reported by the Insurance Commission’s unaudited statistics for 2019.
FWD Insurance’s growth rates in terms of premium income and NB-APE are 24.5 percent and 16.7 percent, higher than the industry’s 1.7 percent and 11.2 percent, respectively.
The insurer’s market share has likewise increased, year-on-year, with FWD’s premium Income market share rising from 3.3 percent to 4.1 percent and NB-APE market share growing from 4.9 percent to 5.1 percent.
“In just five short years, we have successfully solidified our position as a top 10 insurer–and as one of the country’s most exciting insurance brands–committed to achieving our vision to change the way people feel about insurance,” said FWD Insurance president and chief executive officer Li Hao Zhuang.
