AIA Group reports double-digit growth
Friday, March 15th 2019, 2:07PM
AIA Group delivered operating performance with double-digit growth across its main financial metrics for the 12 months to December 31, including very strong growth in value of new business (VONB) of 22% on a constant exchange rate basis, compared with the corresponding 12-month period.
Ng Keng Hooi, AIA’s Group Chief Executive and President, said the value of new business hit a new record of US$3,955 million. "We also achieved strong growth of 13% in both operating profit after tax and underlying free surplus generation. These very strong results were achieved against a backdrop of economic uncertainty and financial market volatility."
“AIA’s agency channel had another excellent year with 26% VONB growth and the Group now has more than 10,000 Million Dollar Round Table (MDRT) members. In partnerships, our bank channel delivered 18% VONB growth and we activated four new strategic partnerships including with Bangkok Bank in Thailand and SK Telecom in Korea.
“Our brand promise, Healthier, Longer, Better Lives, epitomises our commitment to customers as AIA shifts towards being a partner for life with wellness as a key focus. Membership of our wellness programmes exceeded 1.2 million, transforming engagement and delivering meaningful health improvements for our customers.
“The scale, quality and breadth of AIA’s exceptional businesses across the Asia-Pacific region, combined with our unrivalled distribution capabilities, trusted brand, financial strength and innovation capabilities, enable us to meet the evolving needs of our customers for protection and long-term savings as we help them to live Healthier, Longer, Better Lives.
“We enter 2019, our centennial year, with confidence about our long-term outlook. AIA has always been committed to providing financial protection and driving economic and social development across the region. Our centenary gives us the opportunity to reaffirm our commitments and our focus on delivering long-term sustainable value for our shareholders,” he said in a statement.
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