AIA sees new business value jump 37% YoY in the first semester

This was mainly driven by the economic reopening in China and Hong Kong.

Insurer AIA reported its value of new business (VONB) climbed 37% year-on-year (YoY) to $2.03b in the first half of the year, mainly driven by China and Hong Kong’s economic reopening.

To compare, last year saw its VONB reach $1.54b.

“With the pandemic disruption behind us, the strength of AIA’s unrivalled distribution platform across Asia has powered a return to very strong new business momentum, including double-digit VONB growth from AIA China, our combined ASEAN business and Tata AIA Life, our joint venture in India. AIA Hong Kong more than doubled VONB compared to the first half of 2022, driven by substantial business from Mainland Chinese visitors (MCV).” said Lee Yuan Siong, AIA’s Group Chief Executive and President.

ALSO READ: AIA Singapore unveils AIA Centurion PA, covers neurological diseases

In terms of market segments, China’s VONB jumped 14% to $601m. This was followed by Hong Kong (111% to $681m), Thailand (28% to $327m), Singapore (5% to $173m), Malaysia (10% to $170m), and others (8% to $212m).

Likewise, the group’s consolidated net earnings saw a 46% climb to $2.26b in the six months to June.

Total assets saw an increase of 2% to $276b, whilst total liabilities went up 3.7% to $234b.

Follow the link for more news on

AIA

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia