AIA Group (01299) said its value of new business (VONB) rose 20% year-on-year on constant exchange rates (CER) for the third quarter ended 31 August 2017 to US$824 million.
Based on actual exchange rates (AER), the VONB also grew 20% year-on-year.
For the nine months ended 31 August 2017, the VONB amounted to US$2,577 million, up 34% year-on-year on CER and 32% on AER.
Annualised new premiums amounted to US$1,367 million in the third quarter of 2017, up 3% year-on-year on both CER and AER.
AIA Hong Kong delivered strong double-digit VONB growth in the third quarter. AIA continued to benefit from strong performances in its agency and partnership distribution channels and with broad-based growth across a number of different customer segments. The growth rate in the retail IFA channel moderated in line with expectations. Its agency performance was driven by an increase in the number of active agents and a positive shift in product mix resulting in a higher VONB margin.
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