A decade ago, in 2016, FWD Singapore launched as a digital-first challenger brand. Since then, it has steadily broadened its business from a direct-to-consumer model into a diversified, multi-channel operation that now includes financial advisory, bancassurance and high-net-worth segments. FWD Singapore is part of the FWD Group, a pan-Asian life and health insurance business that serves approximately 34 million customers across 10 markets.
This expansion has allowed FWD Singapore to support customers across protection, savings and wealth planning needs, backed by disciplined investment, technology-driven distribution and a sustained focus on remaining relevant for the long term.
“Our first decade in Singapore has been defined by intentional choices. We recognised that as planning needs become more sophisticated, customers would need advice, not just access. Our investment in strengthening advisory enablement and expanding capabilities to support customers was a strategic pivot, and the industry’s evolution since then has reinforced that conviction.”
Adrian Vincent, Chief Executive Officer of FWD Singapore,
FWD Singapore’s shift into the Financial Adviser segment in 2020 marked a key stage in its growth, as consumers moved from transactional insurance purchases towards broader financial planning. LIA data shows FA representatives grew from 29 per cent of weighted new business premiums in 2021 to 35.7 per cent in 2025, the largest distribution channel for the second consecutive year, while GIA data showed the general insurance market grew 8 per cent in FY2025. Against this backdrop, FWD’s investment in digital adviser tools, automated underwriting and API integrations has supported efficient scale, expanded its network to 40 financial advisory partners and two bancassurance partners, and strengthened its position in digital travel insurance with more than 600,000 annual policy transactions.
The insurer’s plans for its second decade in Singapore are based on three key growth themes.
| Growth theme | What FWD is focusing on |
|---|---|
| Retirement and longevity planning | FWD sees rising demand for retirement solutions as longer life expectancy and higher living costs increase adequacy concerns among Millennials and Gen X. It is focusing on investment and savings products that support income, accumulation and decumulation needs across different life stages. |
| Critical illness and protection solutions | With medical inflation rising and protection gaps widening, FWD is focusing on more flexible critical illness solutions that combine protection with longer-term financial planning. It also plans to work with industry experts to develop products for Singapore’s ageing population. |
| High-net-worth and legacy planning | As Asia’s private wealth grows and Singapore strengthens its position as a wealth hub, FWD is focusing on legacy and succession planning through FWD Private, its high-net-worth insurance platform, to serve increasingly complex wealth needs. |
FWD Group successfully listed on the Hong Kong Stock Exchange in July 2025, ensuring full capital market access and a solid foundation for its future development and growth, including FWD Singapore. FY2025 also saw profitable growth for FWD Singapore. In 2024, FWD set up its second insurance license in Singapore under the FWD Private brand for a dedicated high-net-worth (HNW) insurance offering.