FWD Insurance climbs to top 4 in industry in terms of NBAPE

FWD Insurance said Wednesday it is the top four insurer in the country in terms of New Business Annualized Premium Equivalent (NBAPE) in 2020, citing a report by the Insurance Commission (IC).

In a statement, FWD said its 2020 ranking was a big leap from its previous eighth position in 2019, with the insurer posting a 43% increase in premiums to over P13 billion, and 39% growth in assets to P20 billion.

“We attribute our performance to our digital advantage, innovative products, and strong distribution. They help us provide faster, simpler and smoother experiences for our customers even during the pandemic,” said Li Hao Zhuang, president and CEO of FWD Insurance.

“We would not have achieved this strong performance without our dedicated Elite Agency. Our financial advisors tirelessly served our customers and transformed their business online when the nation locked down,” Li Hao said.

“At the same time, we worked hand-in-hand with our strategic partner Security Bank to intensify our service and protection to our clients in time of greatest needs. Together, they represent our frontliners, exemplify our values,  and expand our reach, care and protection to every Filipino,” he said. 

Free vaccines for employees

Meanwhile, FWD Life said its employees will be offered free vaccines though vaccination is not mandatory even as it assured them it will not result in work discrimination.

The company said it will also advise its employees on the vaccine brands as they become available so they would be able to make an informed decision. 

FWD Life said it has subscribed to multiple vaccine programs endorsed by the Department of Health and Inter-Agency Task Force. It has already made subscription through the government’s tripartite program, the only venue for private companies to purchase vaccines.

FWD’s vaccination program will also be available to non-validating agents at cost on a first come, first serve basis while supplies last.

FWD Life said it expects deliveries to start in the third quarter of 2021, subject to DOH priority list.

In the meantime, FWD said it is encouraging its employees to continue observing safety protocols – wash your hands, wear your mask, exercise, and stay healthy. They will also be rolling out an FWD Well-being Program for employees soon. — Ted Cordero/BM, GMA News