Shares of FWD (01828) climbed more than 7% in Hong Kong trading on Thursday after the insurer posted a 20% increase in after-tax operating profit for the first half of the year.

The stock was up 6.92% at HK$31.20 at the time of writing, with turnover reaching HK$16.68 million.

In its interim results, FWD reported new business sales, measured by annualized new premiums, rose 7% year-on-year to US$1.35 billion. New business contract service margin grew 25% to US$996 million, while after-tax operating profit climbed 20% to US$298 million.

Group Chief Executive Officer and Executive Director Huynh Thanh Phong said the company delivered a strong performance in its first full year as a listed entity. "We have once again demonstrated our ability to sustain business growth momentum, converting growth into higher profitability while expanding margins," he said. "This is supported by the diversified geographical footprint, multi-channel distribution model and capital structure built over the past 13 years, positioning FWD favorably to capture future opportunities."