tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Sunday, August 14th, 5:29PM

Insurance

rss
Latest Headlines

AIA reports profit growth

AIA New Zealand has announced 21% growth in underlying profit, an improvement to $9.8 million for the 12 months to November 30, 2014, from $8.1 million in the prior year.

Tuesday, June 23rd 2015, 6:00AM

AIA said the growth in underlying profit was mainly a result of improved operating and claims experience reflecting its strategic focus on writing a high quality mix of business.

New business premiums increased by 6%.

Net profit after tax was $16.7 million.

AIA New Zealand chief executive Natalie Cameron said:  “Our continued success in 2014 was the result of management’s focus on several key areas. First, we re-engaged financial advisers in our core retail and group markets through targeted campaigning and initiatives to support their businesses and provide a seamless distribution and operations service proposition.

“We also had another great year in group insurance with our refreshed operating model being well-received in the market. The key highlight, of course, was our successful bid to retain and extend our long-term partnership with the Police Welfare Fund to 24 years.  In addition, we were successful in attracting an improved business mix and saw enhanced overall margin as a result."

Cameron said: “In 2013 we saw some early results from our strategy to position the business for future growth and enhanced profitability. 2014 has further proved the value of this strategy, and we expect to build on that success further in 2015 as we continue our pursuit of greater access to insurance for all New Zealanders.”

Cameron joined AIA New Zealand as new CEO this month, replacing Wayne Besant, who is now leading AIA in Vietnam.

Tags: AIA

« Kiwis can't see need for insurance: ResearchIncome Protection unsustainable and rule book rewritten »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Fidelity backs two non-profits

Auckland-based InsurTech firm aims for ASX listing
New Zealand-based InsurTech firm raises $7.4 million to fund expansion.

UniMed picks up book of business
After 40 years a friendly society has decided to exit the health insurance sector.

OnePath and Cigna pinged by FMA
OnePath Life (NZ) and Cigna Life Insurance have agreed to pay the Financial Markets Authority $180,000 after admitting breaches of the fair dealing provisions of the Financial Markets Conduct Act 2013 (FMCA).

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x