FWD Group Holdings Balance Sheet

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
Investments in Debt Securities	37,505	31,408	29,029	30,815	37,156
Investments in Equity & Preferred Securities	460	438	383	407	332
Policy Loans	-	-	-	-	793
Other Investments	11,255	9,551	9,073	8,506	202
Total Investments	52,269	43,834	41,632	42,510	47,467
Cash & Equivalents	1,487	1,687	2,008	1,474	2,652
Reinsurance Recoverable	2,722	2,696	2,876	725	3,404
Other Receivables	1,183	1,163	1,425	1,201	816
Deferred Policy Acquisition Cost	-	-	-	-	4,010
Property, Plant & Equipment	152	139	146	139	159
Goodwill	1,544	1,507	1,535	1,529	1,560
Other Intangible Assets	1,646	1,578	1,619	1,678	1,788
Restricted Cash	95	95	59	15	11
Other Current Assets	942	837	1,053	1,081	1,039
Long-Term Deferred Tax Assets	323	176	321	238	9
Other Long-Term Assets	-	-	-	-	738
Total Assets	62,363	53,712	52,674	50,590	63,653
Accounts Payable	722	732	632	853	1,380
Insurance & Annuity Liabilities	49,653	41,646	40,073	37,019	44,598
Reinsurance Payable	465	366	304	463	358
Current Portion of Long-Term Debt	-	996	1,222	-	-
Current Portion of Leases	45	40	54	49	29
Short-Term Debt	210	226	174	396	191
Current Income Taxes Payable	305	147	425	385	22
Long-Term Debt	3,046	1,797	1,309	2,216	2,212
Long-Term Leases	69	66	68	64	99
Long-Term Deferred Tax Liabilities	186	172	136	269	341
Other Current Liabilities	588	464	242	51	161
Other Long-Term Liabilities	197	246	403	336	1,932
Total Liabilities	55,486	46,898	45,042	42,101	54,706
Common Stock	38	12	12	9	8
Additional Paid-In Capital	9,439	8,998	8,998	6,402	6,011
Retained Earnings	-2,254	-2,139	-1,956	-438	-283
Comprehensive Income & Other	-406	-118	528	798	1,518
Total Common Equity	6,817	6,753	7,582	6,771	7,254
Minority Interest	60	61	50	1,718	1,693
Shareholders' Equity	6,877	6,814	7,632	8,489	8,947
Total Liabilities & Equity	62,363	53,712	52,674	50,590	63,653
Filing Date Shares Outstanding	1,276	939.95	939.95	939.95	876.16
Total Common Shares Outstanding	1,276	939.95	939.95	939.95	876.16
Total Debt	3,370	3,125	2,827	2,725	2,531
Net Cash (Debt)	-1,883	-1,438	-819	-1,251	121
Net Cash Per Share	-1.48	-1.53	-0.87	-1.33	0.14
Book Value Per Share	5.18	6.40	6.63	5.76	6.45
Tangible Book Value	3,627	3,668	4,428	3,564	3,906
Tangible Book Value Per Share	2.68	3.11	3.28	2.35	2.62
Machinery	70	90	93	92	89
Leasehold Improvements	73	69	59	59	69

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