FWD (HKG:1828) reported a 37% rise in new business sales to $1.94 billion for the nine months ended Sept. 30, driven by broad-based growth across Asia, according to a Monday Hong Kong bourse filing.
New business contractual service margin grew 27% to $1.16 billion.
Meanwhile, the value of new business rose 17% to $748 million, supported by robust demand in Hong Kong, Singapore, Malaysia, and the Philippines.
The company said it refinanced $1.15 billion of debt and redeemed $500 million in September using its initial public offering proceeds, reducing leverage to 21.8% and cutting annual financing costs by about $72 million.
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