Sunday, July 23, 2017

AIA delivers record new business performance

AIA announced record growth of 55% in the value of new business (VONB) during the first quarter.

In a statement, the insurer said VONB grew to US$884 million in the three months ending February 28, up from US$578 million in the same period last year.

The insurer revealed China was its fastest-growing business during the period.

AIA Group’s outgoing chief executive and president Mark Tucker said the insurer made an excellent start to the year with record VONB growth, the highest quarterly VONB result since its initial public offering in 2010.

In a press statement, AIA said Asian economic growth remains strong and structurally resilient.

This growth, coupled with increasing wealth in the region, will lead to higher life insurance penetration rates, which offers growth potential for AIA.

 

 

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