AIA Group Sees Strong Growth Despite Market Challenges
HONG KONG — AIA Group announced a significant rise in new business value for 2024, accompanied by a $1.6 billion share buyback plan, signaling confidence in the insurer’s performance despite worldwide economic volatility.
The company reported an 18% increase in the value of new business, with the total reaching a record $4.71 billion on a constant currency basis, up from $4.03 billion the previous year. The strong performance was largely driven by robust growth in AIA’s home market of Hong Kong and in mainland China.
Executives at AIA expressed optimism about the company’s operations and investments, stating they are well-positioned to navigate the current geopolitical and economic climate.
The company’s positive outlook comes as Chinese investors seek to diversify their assets, a trend that has provided significant demand for AIA’s services.
“We are confident in our ability to manage risk and deliver value,” stated an AIA executive in the company’s statement.
The insurer’s performance reflects its strategic focus on the Asia-Pacific region and its ability to capitalize on the evolving financial landscape. Despite broader economic concerns, AIA’s latest results demonstrate its resilience and potential for continued growth. The announcement underscores AIA’s commitment to shareholders through the planned share buyback, further indicating the company’s confidence in its financial strength and future prospects.
