AIA (01299) said it reported a record value of new business (VONB) of US$354 million for the first quarter ended 28 February 2014, an increase of 21.6% from a year earlier. Underlying VONB growth was 28% on constant exchange rates.
The VONB margin was 43.8%, up 5.4 percentage points. Annualised new premium rose 7.2% year-on-year to US$799 million. Total weighted premium income amounted to US$4,428 million, up 6% year-on-year.
AIA said highlights for the quarter include excellent growth and consistent execution in Hong Kong and Singapore; a solid performance in Thailand; and continued growth momentum in Malaysia. Each of these markets delivered double-digit VONB growth on actual exchange rates.
11/04/2014 08:31
AIA (01299) 1Q VONB rises 22% y-y to US$354m
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