AIA Group posts record growth in new business

July 29 2016 by InsuranceAsia News Staff

The value of new business of AIA Group, the largest independent publicly listed pan-Asian life insurance group, posted a record 37% growth in the first half of 2016 to US$1.26 billion, its board of directors announced in a press statement released yesterday.

The group also raked in US$2.355 billion in annualised new premiums, representing a 31% increase compared to data for the same period last year.

The company was also produced a strong showing in its operating profit with embedded value (EV) up 28% to US$2.896 billion for the period.

AIA Group chief executive and president Mark Tucker said the strength of this performance reflects the disciplined execution of the company’s growth strategy, the resilience of its operating model and its commitment to building a high-quality, sustainable business for the long term.

These factors, he added, have enabled AIA to deliver a strong and consistent track record of year-on-year growth, notwithstanding an uncertain global macroeconomic and capital market environment.