August 22, 2019 / 10:13 PM / 6 months ago

Insurer AIA posts 20% rise in first-half new business value

HONG KONG, Aug 23 (Reuters) - Asia-focussed insurer AIA Group Ltd posted a 20% rise in new business value for the first half of the year on Friday, as it sold more insurance products in its main markets of Hong Kong and China.

AIA’s new business value, which measures expected profits from new premiums and is a key gauge for future growth, surged to $2.28 billion in the half-year period ended June from $1.95 billion a year earlier, the company said.

The insurance firm, whose business was first established in Shanghai nearly a century ago, now has a presence in 18 markets in Asia Pacific. Hong Kong, where AIA is based, accounts for the biggest share of its new business. (Reporting by Nikhil Kurian Nainan and Sumeet Chatterjee; Editing by Anil D’Silva)

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