AIA Group on Friday announced 18 per cent growth in value of new business (VONB) to US$1.16 billion (Bt36.6 billion) on constant exchange rates (CER) for the first quarter ended March 31, 2019.
In a press release on Friday the company said it also posted 11 per cent increase in annualised new premiums (ANP) to US$1.82 billion. Total weighted premium income (TWPI) is also up 18 per cent to US$8,276 million.
Ng Keng Hooi, AIA's Group Chief Executive and President, said: "AIA has made a good start to the year with an 18 per cent increase in VONB to US$1,169 million for the first quarter of 2019. Our highest ever quarterly VONB result continues our consistent track record of year-on-year growth. "The strong headline figures reflect our continued focus on executing our strategic priorities as we help to meet the evolving needs of our customers for protection and long-term savings across our markets.
AIA's high-quality financial advice and our transition towards being a lifelong partner to customers are critical success factors in meeting these needs.!-- yenko in read content -- !-- end yenko in read content -- "AIA's competitive advantages in distribution and product innovation, developed over many years, are aligned with the unprecedented structural drivers of life insurance growth across the Asia-Pacific region.
We are exceptionally well-placed to capture these enormous opportunities, deliver long-term, sustainable shareholder value and help our customers live Healthier, Longer, Better Lives." VONB growth at AIA Thailand was supported by encouraging progress from our partnership with Bangkok Bank Public Company Limited where the company has seen strong momentum from recruitment and enhanced productivity of insurance specialists.
Continued progress with its agency transformation delivered a further increase in active agent productivity, the company said.
© Pakistan Press International, source Asianet-Pakistan