AIA Insurance announced its mid-term financial report for 2024, showing that the performance for the six months ending June 30, 2024, increased by 25% to $2.45 billion in new business value, and the annualized new premiums rose by 17% to $4.55 billion. After-tax operating profit per share and basic earnings per share of free surplus both grew by 10%, and the interim dividend per share increased by 5.2% to HKD 0.445. After-tax operating profit reached $3.86 billion, a 10% increase year-on-year, and the return on equity operating profit rose from 13.5% last year to 15.3%. The company has set a compound annual growth rate target of 9% to 11% for after-tax operating profit per share from 2023 to 2026. Basic free surplus generated $3.39 billion, a 10% increase, and the net free surplus after...Show More

AIA Insurance announced its mid-term financial report for 2024, showing that the performance for the six months ending June 30, 2024, increased by 25% to $2.45 billion in new business value, and the annualized new premiums rose by 17% to $4.55 billion. After-tax operating profit per share and basic earnings per share of free surplus both grew by 10%, and the interim dividend per share increased by 5.2% to HKD 0.445. After-tax operating profit reached $3.86 billion, a 10% increase year-on-year, and the return on equity operating profit rose from 13.5% last year to 15.3%. The company has set a compound annual growth rate target of 9% to 11% for after-tax operating profit per share from 2023 to 2026. Basic free surplus generated $3.39 billion, a 10% increase, and the net free surplus after deducting reinvestment in new business was $2.24 billion. The company returned $3.4 billion to shareholders through dividends and share buybacks, and the share buyback program increased by $2 billion, reaching a total of $12 billion. AIA Insurance's CEO and President, Ng Keng Hooi, stated that the company is in good financial condition and has confidence in future operations and financial results. AIA Insurance is well positioned for long-term, structural growth opportunities in Asia, which is the most attractive life and health insurance market in the world. Since its establishment in Shanghai in 1919, AIA Insurance has been the leader in life insurance premiums in Asia (excluding Japan) and holds a leading position in most markets. As of June 30, 2024, total assets amounted to $289 billion, providing products and services including life insurance, accident and health insurance, savings plans, as well as employee benefits, credit insurance, and retirement services to over 42 million individual policyholders and more than 16 million members of group insurance plans. AIA Insurance Limited is listed on the Main Board of the Hong Kong Stock Exchange.