AIA delivers excellent growth in the first half of 2016
VOV.VN -AIA Group Limited, the largest independent publicly listed pan-Asian life insurer, just announced its unaudited consolidated results for the six months ended May 31, 2016.
 |
The annualised new premium jumped 31% to US$2.35 billion.
IA also witnessed strong operating profit growth during the period: the embedded value operating profit up 28% to US$2.89 billion, after-tax profit up 14% to US$1.95 billion and earnings per share up 14% to 16.34 US cents based on the International Financial Reporting System (IFRS) standards.
The company’s Board of Directors has declared a 17% increase in the interim dividend for 2016.
AIA Vietnam is a member of the AIA Group, the largest independent publicly listed pan-Asian life insurance group – with a presence in 18 markets across the Asia-Pacific region.
Established in 2000, AIA Vietnam is now one of the leading life insurers in the market and is a pioneer in introducing innovative business models in order to provide leading levels of experience to our customers.
'AIA has delivered an excellent set of results with record VONB growth of 37% on a constant exchange rate basis in the first half. The strength of this performance reflects the disciplined execution of our growth strategy, the resilience of our operating model and our commitment to building a high-quality, sustainable business for the long term', said Mark Tucker, AIA Group chief executive and president.
'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', he added.
'Asia is the most attractive and dynamic region in the world for life insurance. We are operating in markets that continue to offer sustainable economic growth, increased disposable incomes, powerful demographic and urbanisation trends and very low insurance penetration rates. AIA is exceptionally well placed to benefit directly from these significant and robust drivers of life insurance growth across our region', Tucker affirmed.
'We have a highly-diversified and resilient business model underpinned by our market-leading brand and the financial strength to enable us to capture these opportunities', he noted.
Wayne Besant, CEO of AIA Vietnam said 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,” says Wayne.
