FWD Life insurance Corp. (FWD Philippines) kept its position as the country’s top life insurer in terms of new business annual premium equivalent (NBAPE) for the first semester, it said on Wednesday.

Citing Insurance Commission (IC) data, FWD Philippines said its NBAPE rose 23.5% year on year to P5.26 billion in the first half, giving it a market share of 12.2%.

“Remaining number one means much more than leading the market,” said Soon Liang Lau, President and Chief Executive Officer of FWD Philippines. “It reflects the trust our customers place in us every day to help them protect what matters most. We are grateful that more Filipinos continue to choose FWD as their partner in securing their future, and that trust inspires us to keep making insurance simpler, more relevant, and more accessible for every Filipino.”

The insurer also ranked first among life insurers in terms of single premiums, while it placed third for total premiums, still supported by new customers. Its results came as the broader life insurance industry posted higher premium income in the first half, indicating continued activity across both variable and traditional products.

“As FWD continues to grow its reach through its agency force, exclusive bancassurance partnership with Security Bank, and digital capabilities, the company remains focused on turning market leadership into meaningful customer impact, making protection easier to understand, simpler to access, and more relevant to more Filipinos, so they can build financial confidence and celebrate living,” FWD Philippines said.

The life insurance industry’s premium income increased 17.91% to P229.98 billion in the first half of the year, driven mainly by variable life products, IC data showed.

Variable life premiums earned during the semester rose 14.79% year on year to P150.031 billion from P130.704 billion. Traditional life premiums climbed 24.25% to P79.954 billion from P64.35 billion.

The industry’s NBAPE also went up 13.13% to P41.855 billion from P37.008 billion a year earlier.

Life insurance companies’ combined net income improved 3.42% year on year to P21.42 billion in the first semester from P20.72 billion, the IC said.

Total assets reached P2.17 trillion at end-June, up 8.77% year on year. — A.M.C. Sy