FWD Group Expands Market Share in Thai Insurance Industry
FWD Life Insurance is making significant strides in the Thai insurance market, reporting a 20% average annual growth in new business over the past three years, outperforming the industry’s 8% growth rate. The company’s market share has increased from 14% in 2020 to 18%, ranking it second among Thai life insurers, and holds a 31% market share in bancassurance through a partnership with Siam Commercial Bank.
FWD Life Insurance, part of the FWD Group, is making significant strides in the Thai insurance market.
Founded in 2013 by Richard Li of Pacific Century Group, FWD Group acquired ING Group's insurance units in Hong Kong, Macau, and Thailand.
As the largest company within FWD Group, the Thai unit accounts for 35% of the group's total business, servicing 10 markets throughout Asia.
Under CEO David Korunic, FWD Life Insurance reported a 20% average annual growth in new business over the past three years, outperforming the Thai insurance industry's 8% growth rate.
The company's market share increased from 14% in 2020 to 18% today, ranking it second among Thai life insurers.
The company remains committed to customer-focused strategies, leveraging digital platforms to enhance customer experiences, and introducing innovative insurance products to meet evolving consumer needs.
FWD’s bancassurance partnership with Siam Commercial Bank (SCB) solidifies its top position in bancassurance with a 31% market share.
Despite economic uncertainties, FWD sees tremendous growth opportunities in Thailand’s low-penetration insurance market.
Founded in 2013 by Richard Li of Pacific Century Group, FWD Group acquired ING Group's insurance units in Hong Kong, Macau, and Thailand.
As the largest company within FWD Group, the Thai unit accounts for 35% of the group's total business, servicing 10 markets throughout Asia.
Under CEO David Korunic, FWD Life Insurance reported a 20% average annual growth in new business over the past three years, outperforming the Thai insurance industry's 8% growth rate.
The company's market share increased from 14% in 2020 to 18% today, ranking it second among Thai life insurers.
The company remains committed to customer-focused strategies, leveraging digital platforms to enhance customer experiences, and introducing innovative insurance products to meet evolving consumer needs.
FWD’s bancassurance partnership with Siam Commercial Bank (SCB) solidifies its top position in bancassurance with a 31% market share.
Despite economic uncertainties, FWD sees tremendous growth opportunities in Thailand’s low-penetration insurance market.
