---
title: "【True Burning Finance】FWD Hong Kong's first-year premium for new business in the first half of 2024 increased by more than 30%"
description: "FWD Hong Kong announced that according to the provisional statistics of Hong Kong's long-term insurance business from January to June 2024 by the Insurance Authority, FWD's first-year premium for new "
type: "topic"
locale: "en"
url: "https://longbridge.com/en/topics/23946989.md"
published_at: "2024-09-19T03:34:40.000Z"
author: "[真灼财经](https://longbridge.com/en/profiles/1067948)"
---

# 【True Burning Finance】FWD Hong Kong's first-year premium for new business in the first half of 2024 increased by more than 30%

FWD Hong Kong announced that according to the provisional statistics of Hong Kong's long-term insurance business from January to June 2024 by the Insurance Authority, FWD's first-year premium for new business in the first half of 2024 increased by 33% year-on-year, outperforming the industry average growth of 12%. FWD ranked fourth in Hong Kong among non-bank insurance groups in terms of both first-year premium and the number of new business policies.

The significant growth in FWD's new business in the first half of this year reflects the sustained demand from local customers and mainland visitors for high-quality insurance products. Among them, the first-year premium related to FWD products purchased by Hong Kong residents and offshore customers, including mainland visitors, recorded year-on-year growth of 36% and 25%, respectively, both outperforming the industry average (19% and 3%). Half (50%) of the new business annualized premium in the first half of this year came from local customers, demonstrating the effectiveness of FWD's dual-engine development strategy in driving steady business growth.

The diversified sales channel model continues to show results, with all distribution channels achieving double-digit growth in the second quarter. The annualized premium for new business through the exclusive agent channel grew by 54% year-on-year, far surpassing the industry average decline of 2%. The bank insurance channel saw a 43% year-on-year increase in annualized premium for new business, significantly outperforming the industry average growth of 17%. The broker channel recorded an 11% year-on-year increase in annualized premium for new business, markedly better than the industry average decline of 6%. The online and direct sales platforms achieved a 44% year-on-year growth in annualized premium for new business.

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.