AIA Group Limited has reported a significant 31% growth in the value of new business (VONB) on constant exchange rates (CER) for the first quarter ending March 31, 2024. This growth reflects the company’s competitive strengths and financial discipline, with a record high quarterly VONB of US$1,327 million and double-digit growth across all reportable segments.
In addition to the strong financial performance, AIA has announced an enhanced capital management policy, including a US$2.0 billion addition to its existing US$10.0 billion share buy-back program. AIA’s Group Chief Executive and President, Lee Yuan Siong, emphasized the company’s commitment to returning excess capital to shareholders while maintaining a focus on profitable new business growth.
The company’s strategic priorities and consistent execution have been highlighted through these announcements, reinforcing AIA’s dedication to delivering increased shareholder value, future earnings, and free surplus generation. This move signifies AIA’s confidence in its operational and financial outlook, positioning it for sustained growth and value creation in the future.