AIA Reports Record-Breaking 2024 Financial Results
AIA Group, the leading insurance provider in the Asia-Pacific region, announced stellar financial results for 2024, marking an all-time high in earnings. The surge in performance was primarily fueled by robust demand for insurance products, especially from mainland Chinese visitors in Hong Kong and across Southeast Asia.
Net profit for the year jumped 82% year-over-year to reach US$6.84 billion, translating to 62 US cents per share. This performance, as reported in a filing to the Hong Kong Stock Exchange on Friday, surpassed the market consensus of US$6.345 billion, as estimated by analysts at Bloomberg. This marks the company’s highest earnings since its public listing in Hong Kong in 2010.
AIA Central office tower in Central, Hong Kong.
The company also disclosed a new share buy-back program valued at US$1.6 billion, adding to the US$12 billion in repurchases completed in February. Following the announcement, AIA’s shares experienced a 2.5% decrease, closing at HK$61.25 on Friday.
“AIA is uniquely well-positioned to capitalise on the long-term growth potential in the world’s most attractive market for life and health insurance in Asia, where there is ample headroom for growth,” commented Lee Yuan Siong, AIA’s CEO, during a briefing.
During the briefing, Lee expressed the company’s optimistic outlook on future performance. He also outlined the company’s plans to continue recruiting new sales agents, and to create new banking partnerships throughout the region.
AIA Group CEO Lee Yuan Siong speaks during a briefing in Hong Kong on March 14, 2025. Photo: Jonathan Wong
Furthermore, the insurer plans to continue investing in its digital platforms and artificial intelligence to boost the productivity of its agents, as well as streamline its claims process, according to Lee.
