FWD sees H1 investment result jump to $124m

Written by Adam Cadle

01/09/2023

FWD Group's H1 2023 investment result jumped to $124m from $33m a year ago, thanks in part to Apollo for making improved returns on assets backing its Japanese business.

FWD reported $478m profits, compared to $310m this time last year.

The group's fixed income and cash, representing over 85% of its invested assets, had an average book yield of 2.95%, up from 2.77% a year earlier, and 91% of its corporate bonds were of investment grade.

The group's consolidated income statement showed a $722m investment return in H1, after $191m of losses a year ago.

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