AIA delivers excellent growth in the first half of 2016
AIA delivers excellent growth in the first half of 2016
AIA Group Limited, the largest independent publicly listed pan-Asian life insurer, just released its unaudited consolidated results for the six months ended May 32, 2016.
Accordingly, the company posted a record growth of 37 per cent in the value of new business (VONB) to $1.26 billion on a constant exchange rate basis. The VONB margin inched up 2.4 percentage points to 52.7 per cent.
The annualised new premium jumped 31 per cent to $2.35 billion.
AIA also witnessed strong operating profit growth during the period: the embedded value operating profit up 28 per cent to $2.89 billion, after-tax profit up 14 per cent to $1.95 billion and earnings per share up 14 per cent to $16.3 US cents based on the International Financial Reporting System (IFRS) standards.
The company’s Board of Directors has declared a 17 per cent increase in the interim dividend for 2016.
“AIA has delivered an excellent set of results in the first half. This has enabled us to deliver a strong and consistent track record of year-on-year growth notwithstanding an uncertain global macroeconomic and capital market environment,” said Mark Tucker, AIA Group chief executive and president.
“Asia is the most attractive and dynamic region in the world for life insurance. We shall continue to find innovative ways to broaden our range of products and provide customers with the critically important protection and savings support they need,” Tucker affirmed.
“This outstanding result has proven the effectiveness of AIA’s strategies at regional and country level, and demonstrated the positive prospect of life insurance industry in Asia Pacific.
“This year AIA Vietnam continues to mark our contribution to the group’s achievement with our strong growth and successful implementation of the group’s strategies and initiatives, specifically with our strategic focus in agency network development and bank partnership,” said Wayne Besant, CEO of AIA Vietnam.
