Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Connect  >  AIA Group Limited    1299   HK0000069689

AIA GROUP LIMITED

(1299)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

AIA : Third Quarter 2018 New Business Highlights

share with twitter share with LinkedIn share with facebook
share via e-mail
11/08/2018 | 05:54pm EST

This announcement is for information purposes only and does not constitute an invitation or offer by any person to acquire, purchase or subscribe for securities. This announcement is not, and is not intended to be, an offer of securities of the Company for sale in the United States. The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the U.S. Securities Act. There is not, and is not intended to be, any public offering of the securities of the Company in the United States.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

AIA Group Limited 友邦保險控股有限公司

(Incorporated in Hong Kong with limited liability)

Stock Code: 1299

THIRD QUARTER 2018 NEW BUSINESS HIGHLIGHTS

友邦保險控股有限公司

AIA Group Limited

香港中環干諾道中一號 友邦金融中心三十五樓

35/F, AIA Central

1 Connaught Road Central Hong Kong

T: (852) 2832 6166 F: (852) 2838 2005

AIA.COM

Media Release

AIA Delivers Strong New Business Growth for the Third Quarter of 2018

Value of New Business up 17 per cent on constant exchange rates

HONG KONG, 9 November 2018 - AIA Group Limited (the "Company"; stock code: 1299) today announces 17 per cent growth in value of new business (VONB) on constant exchange rates (CER) for the third quarter ended 30 September 2018.

Highlights of the third quarter on constant exchange rates:

  • • 17 per cent growth in VONB to US$979 million

  • • 12 per cent increase in annualised new premiums (ANP) to US$1,582 million

  • • VONB margin up 2.6 pps to 61.1 per cent

  • • Total weighted premium income (TWPI) up 16 per cent to US$7,610 million

KEY FINANCIAL SUMMARY

Three months ended 30 September

Nine months ended 30 September

US$ millions, unless otherwise stated

2018

2017

YoY CER

YoY AER

2018

2017

YoY CER

YoY AER

VONB

979

846

17%

16%

2,933

2,451

17%

20%

VONB margin

61.1%

58.4%

2.6 pps

2.7 pps

60.0%

55.8%

3.8 pps

4.2 pps

ANP

1,582

1,422

12%

11%

4,834

4,328

10%

12%

TWPI

7,610

6,611

16%

15%

22,039

18,785

15%

17%

Ng Keng Hooi, AIA's Group Chief Executive and President, said:

"AIA delivered a strong performance in the third quarter with 17 per cent growth in value of new business to US$979 million. Today's results and our consistent track record of growth are the direct outcome of the quality of AIA's exceptional businesses and our disciplined approach to delivering our strategic objectives.

"The needs and expectations of Asian consumers are changing rapidly. Personal health, wellness and the need for financial protection are increasingly front of mind. Combined with rising affluence, this will drive increasing demand for our protection and long-term savings products across our markets.

"The powerful combination of AIA's competitive advantages in distribution and product innovation, empowered by our increasing use of technology, places us in an exceptional position to help meet these rapidly-evolving needs. Our brand promise to help millions of people to live healthier, longer, better lives provides a strong basis for developing deep, long-term relationships with our customers and differentiates AIA. I remain confident that our teams will continue to focus on delivering high-quality growth and generating long-term returns for our shareholders."

SUMMARY FOR THE THIRD QUARTER

AIA Hong Kong generated strong double-digit growth in VONB in the third quarter of 2018 with broad-based growth from both agency and partnership channels and across both domestic customer and Mainland Chinese visitor segments.

AIA's wholly-owned operation in China delivered a strong performance with double-digit VONB growth in the third quarter, benefiting from a further increase in active agents. Our commitment to the execution of our Premier Agency strategy and providing needs-based advice and value-added services continues to differentiate AIA's customer proposition in China.

Our business in Thailand delivered double-digit VONB growth, driven by continuing improvement

  • in agent productivity as we make further progress with our ongoing agency transformation. VONB

  • in Malaysia was lower year-on-year although we saw a sequential improvement in VONB growth

  • in the third quarter compared to the second quarter of 2018.

In Singapore, strong ANP growth was offset by a lower VONB margin as a result of large volumes of single premium unit-linked business. Our number of active agents grew at a double-digit rate and our partnership with Citibank, N.A. delivered very strong growth in the third quarter.

Other Markets reported strong double-digit VONB growth with particularly strong contributions to growth from our businesses in Australia, Korea, the Philippines and Taiwan.

ANP increased by 12 per cent compared with the third quarter of 2017 to US$1,582 million. VONB margin improved to 61.1 per cent, compared with 58.4 per cent in the third quarter of 2017, mainly driven by positive changes in product mix, channel mix and others. Margin reported on a present value of new business premium (PVNBP) basis was stable at 10 per cent. Long-term economic assumptions remain unchanged from those shown in our Annual Report 2017, following the same approach that we have applied consistently for quarterly new business highlights. TWPI increased by 16 per cent to US$7,610 million, compared with the third quarter of 2017, as we continue to layer new business onto our large in-force portfolio.

OUTLOOK

Asia's macroeconomic fundamentals remain resilient despite recent volatility in financial markets, increased international trade tensions and softening consumer and business sentiment. The strong domestic drivers of growth and major demographic trends provide positive structural support for the long-term prospects of AIA's business in Asia. Against the backdrop of an uncertain global macroeconomic and geopolitical environment, we remain focused on executing our strategic priorities and we are confident in delivering long-term, sustainable value for our shareholders.

FOREIGN EXCHANGE VOLATILITY

AIA receives the vast majority of its premiums in local currencies and we closely match our local assets and liabilities to minimise the economic effects of foreign exchange movements. When reporting the Group's consolidated figures, there is a currency translation effect as we report in US dollars. We have provided growth rates and commentaries on CER unless otherwise stated, since this provides a clearer picture of the year-on-year performance of the underlying businesses.

- End -

About AIA

AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific - wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar.

The business that is now AIA was first established in Shanghai almost a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$221 billion as of 30 June 2018.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of 32 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").

Contacts

Investment Community

News Media

Lance Burbidge

+852 2832 1398

Stephen Thomas

+852 2832 6178

Evelyn Lam

+852 2832 1633

Mark Walters

+852 2832 1978

Feon Lee

+852 2832 4704

Emerald Ng

+852 2832 4720

Rachel Poon

+852 2832 4792

As for all quarterly new business highlights announcements, there will not be a conference call for media or investors and your usual contact will be available to answer queries.

Disclaimer

AIA Group Ltd. published this content on 09 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 08 November 2018 22:53:09 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on AIA GROUP LIMITED
2019AIA : announces Lee Yuan Siong as Group Chief Executive/President from 1 June 20..
AQ
2019Alibaba's Hong Kong shares rise 6.6% on debut in heavy volume
RE
2019Alibaba's Hong Kong shares rise 6.6% on debut in heavy volume
RE
2019Battling slowing sales, insurer AIA hires new CEO from rival Ping An
RE
2019AIA : Ng Keng Hooi to retire as AIA Group Chief Executive and President To be su..
PU
2019Insurers Hit by Fall In Chinese Tourists -- WSJ
DJ
2019AIA : An Unlikely Hong Kong Tourist Trap Takes a Hit as Insurers Seek Cover
DJ
2019WALL STREET STOCK EXCHANGE : Stocks Slip on Doubts About China-U.S. Tariff Talks
DJ
2019Global Stocks Slip on Doubts About China-U.S. Tariff Talks
DJ
2019Global Stocks Slip on Doubts About China-U.S. Tariff Talks
DJ
More news
Financials (USD)
Sales 2019 32 593 M
EBIT 2019 7 327 M
Net income 2019 6 353 M
Debt 2019 -
Yield 2019 1,62%
P/E ratio 2019 19,1x
P/E ratio 2020 17,7x
Capi. / Sales2019 3,75x
Capi. / Sales2020 3,34x
Capitalization 122 B
Chart AIA GROUP LIMITED
Duration : Period :
AIA Group Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AIA GROUP LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 11,82  $
Last Close Price 10,16  $
Spread / Highest target 30,5%
Spread / Average Target 16,3%
Spread / Lowest Target -2,75%
EPS Revisions
Managers
NameTitle
Keng Hooi Ng President, Group CEO & Executive Director
John Cai Chief Executive Officer
Sze Wing Tse Independent Non-Executive Chairman
Biswa Misra Group Chief Technology & Operations Officer
Garth Jones Group Chief Financial Officer