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AIA's earnings soar 89%
By Feng Jianmin |
00:50 UTC+8 February 28, 2013
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Print Edition
Print Edition
AIA Group Ltd, the third-largest Asia-based insurer, yesterday reported a better-than-expected 89 percent jump in net profit, with Chinese mainland being the fourth-largest market for new business among the insurer's 16 markets in Asia.
Net income rose to US$3 billion in the 12 months ended on November 30 from a year earlier, the Hong Kong-based and listed life insurer said in a statement to the city's stock exchange yesterday. The company attributed the growth to gains in market value of investments as well as product improvements.
The value of new business, an indicator of future profitability of new policies, rose 27 percent to a record US$1.19 billion, the first time it topped US$1 billion in at least four years. Chinese mainland contributed US$124 million in new business, lagging behind Hong Kong, Thailand and Singapore.
Net income rose to US$3 billion in the 12 months ended on November 30 from a year earlier, the Hong Kong-based and listed life insurer said in a statement to the city's stock exchange yesterday. The company attributed the growth to gains in market value of investments as well as product improvements.
The value of new business, an indicator of future profitability of new policies, rose 27 percent to a record US$1.19 billion, the first time it topped US$1 billion in at least four years. Chinese mainland contributed US$124 million in new business, lagging behind Hong Kong, Thailand and Singapore.
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