FWD Group Holdings Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	2,911	2,724	2,756	2,408	9,302
Total Interest & Dividend Income	-308	164	168	63	776
Gain (Loss) on Sale of Investments	343	23	-922	-351	981
Other Revenue	102	-93	-230	-102	258
Total Revenue	3,048	2,818	1,772	2,018	11,317
Revenue Growth (YoY)	8.16%	59.03%	-12.19%	-82.17%	18.78%
Policy Benefits	2,076	2,054	2,077	1,963	8,665
Policy Acquisition & Underwriting Costs	-	-	-	-	1,121
Selling, General & Administrative	486	550	643	601	1,076
Other Operating Expenses	-17	-20	-29	-9	167
Total Operating Expenses	2,545	2,584	2,691	2,555	11,063
Operating Income	503	234	-919	-537	254
Interest Expense	-250	-230	-150	-107	-129
Earnings From Equity Investments	31	36	-20	2	9
Currency Exchange Gain (Loss)	57	168	363	470	385
Other Non Operating Income (Expenses)	-21	-19	-24	-21	-55
EBT Excluding Unusual Items	320	189	-750	-193	464
Merger & Restructuring Charges	-	-	-2	-88	-104
Asset Writedown	2	-5	-88	-3	-5
Other Unusual Items	-	-	26	-	-29
Pretax Income	322	184	-814	-284	326
Income Tax Expense	162	174	-97	36	126
Earnings From Continuing Ops.	160	10	-717	-320	200
Earnings From Discontinued Ops.	-	-	-	-	36
Net Income to Company	160	10	-717	-320	236
Minority Interest in Earnings	6	14	1	101	-36
Net Income	166	24	-716	-219	200
Net Income to Common	166	24	-716	-219	200
Net Income Growth	591.67%	-	-	-	-
Shares Outstanding (Basic)	1,276	940	940	940	876
Shares Outstanding (Diluted)	1,276	940	940	940	876
Shares Change (YoY)	35.75%	-	-	7.28%	-55.04%
EPS (Basic)	0.13	0.03	-0.76	-0.23	0.23
EPS (Diluted)	0.13	0.03	-0.76	-0.23	0.23
EPS Growth	409.51%	-	-	-	-
Free Cash Flow	235	501	619	-402	-885
Free Cash Flow Per Share	0.18	0.53	0.66	-0.43	-1.01
Operating Margin	16.50%	8.30%	-51.86%	-26.61%	2.24%
Profit Margin	5.45%	0.85%	-40.41%	-10.85%	1.77%
Free Cash Flow Margin	7.71%	17.78%	34.93%	-19.92%	-7.82%
EBITDA	549	286	-862	-475	313
EBITDA Margin	18.01%	10.15%	-48.64%	-23.54%	2.77%
D&A For EBITDA	46	52	57	62	59
EBIT	503	234	-919	-537	254
EBIT Margin	16.50%	8.30%	-51.86%	-26.61%	2.24%
Effective Tax Rate	50.31%	94.56%	-	-	38.65%
Revenue as Reported	-	-	-	-	11,697

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.