FWD Life Insurance outpaces industry growth

MANILA - FWD Life Insurance said Wednesday its total premium income grew 50 percent in 2017, outpacing the industry.

MANILA - FWD Life Insurance said Wednesday its total premium income grew 50 percent in 2017, outpacing the industry.

The Pan-Asian insurer which offers, among others, coverage specific to terrorist attacks and cancer, booked P4.55 billion in premium income last year. Year-on-year growth exceeded the industry's 11 percent during the same period, the company said in a statement.

FWD said it had 100,000 customers in the Philippines at the end of last year, with market share of 3.5 percent based on weighted new business premiums.

Total assets grew 59 percent to P9.79 while total investments grew 73 percent to P8.83 billion in 2017.

"Our progress over the past three years and 2017 market outperformance continues to validate our challenger brand mindset and our vision to change the way people feel about insurance," said FWD Life Insurance Philippines president and CEO Peter Grimes.

News Source: ABS-CBN News