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AIA Group Ltd (1299.HK)

1299.HK on Hong Kong Stock

77.00HKD
28 Sep 2020
Change (% chg)

HK$-0.65 (-0.84%)
Prev Close
HK$77.65
Open
HK$77.30
Day's High
HK$78.10
Day's Low
HK$76.50
Volume
19,456,490
Avg. Vol
28,428,911
52-wk High
HK$87.80
52-wk Low
HK$60.05

Latest Key Developments (Source: Significant Developments)

AIA Group Posts Qtrly Value Of New Business Of US$980 Million, Up 1%
Monday, 28 Oct 2019 

Oct 28 (Reuters) - AIA Group Ltd <1299.HK>::AIA GROUP LTD - QTRLY VALUE OF NEW BUSINESS (VONB) OF US$980 MILLION, UP 1 PER CENT.AIA GROUP LTD - DURING QUARTER, GROWTH RATE OF 14 PER CENT GROWTH IN VONB EXCLUDING HONG KONG.AIA GROUP LTD - QTRLY VONB MARGIN UP 6.0 PPS TO 67.0 PER CENT.AIA GROUP SAYS DELIVERED GROWTH IN VONB IN A CHALLENGING OPERATING ENVIRONMENT, PARTICULARLY IN RELATION TO CURRENT EVENTS IN HONG KONG.AIA GROUP LTD - QTRLY TOTAL WEIGHTED PREMIUM INCOME (TWPI) UP 8 PER CENT TO US$8,168 MILLION.AIA GROUP LTD - QTRLY ANNUALISED NEW PREMIUMS (ANP) LOWER BY 8 PER CENT AT US$1,444 MILLION.AIA GROUP SAYS DESPITE SOME HEADWINDS, AIA’S MARKETS ACROSS THE REGION WILL BENEFIT OVER LONG TERM FROM INCREASING DEMAND FOR ITS PRODUCTS.AIA GROUP - HONG KONG BUSINESS REPORTED A DOUBLE-DIGIT REDUCTION IN VONB IN THE THIRD QUARTER.AIA GROUP LTD - "REDUCED NUMBERS OF MAINLAND CHINESE VISITORS TO HONG KONG CONTINUE TO AFFECT SALES".  Full Article

Commonwealth Bank Of Australia Updates On CDPP Proceedings Against CommInsure
Friday, 4 Oct 2019 

Oct 4 (Reuters) - Commonwealth Bank Of Australia ::CDPP PROCEEDINGS AGAINST COMMINSURE.CBA AND COMMINSURE ARE CONSIDERING MATTER AND CBA DOES NOT INTEND TO COMMENT FURTHER AT THIS TIME.CMLA REPORTED BREACHES OF ANTI-HAWKING PROVISIONS TO ASIC.ALLEGED CONTRAVENTIONS RELATE TO TELEPHONE SALES OF SIMPLE LIFE INSURANCE PRODUCTS BY CMLA IN PERIOD 7 OCTOBER 2014 TO 16 DECEMBER 2014.PRACTICE OF TELEPHONE SALES OF SIMPLE LIFE INSURANCE PRODUCTS BY CMLA CEASED AT END OF 2014.  Full Article

Australian Securities And Investments Commission Says Comminsure Charged With Hawking Offences
Friday, 4 Oct 2019 

Oct 4 (Reuters) - Australian Securities And Investments Commission::COMMINSURE CHARGED WITH HAWKING OFFENCES.COLONIAL MUTUAL LIFE INSURANCE SOCIETY, TRADING AS COMMINSURE, CHARGED WITH 87 COUNTS.COMMINSURE CHARGED WITH 87 COUNTS OF OFFERING TO SELL INSURANCE PRODUCTS IN THE COURSE OF NON-COMPLIANT UNSOLICITED TELEPHONE CALLS..MAXIMUM PENALTY FOR EACH OF CHARGES IS 125 PENALTY UNITS ($21,250).MATTER HAS BEEN LISTED FOR FIRST MENTION ON 19 NOV 2019 AT THE DOWNING CENTRE LOCAL COURT IN SYDNEY.  Full Article

CBA Updates On Divestment Of Australian Life Insurance Business
Friday, 23 Aug 2019 

Aug 23 (Reuters) - Commonwealth Bank of Australia ::UPDATES ON DIVESTMENT OF AUSTRALIAN LIFE INSURANCE BUSINESS.AGGREGATE PROCEEDS FOR CBA FROM TRANSACTION ARE EXPECTED TO BE $2,375M, A REDUCTION OF $150M FROM ORIGINAL SALE PRICE.CBA AND ASB AGREED TO GRANT AIA AN OPTION TO EXTEND RESPECTIVE AUSTRALIAN AND NEW ZEALAND DISTRIBUTION AGREEMENTS FROM 20 YRS TO 25 YRS.UPON COMPLETION REVISED TRANSACTION PATH IS EXPECTED TO HAVE RELEASED ABOUT $1.6 BILLION - $1.8 BILLION OF COMMON EQUITY TIER 1 (CET1) CAPITAL.CBA TO RECEIVE FROM DEAL ABOUT $750 MILLION OF PROCEEDS AND DISTRIBUTIONS BY END OF 1H FY20 AND REMAINING $1,625 MILLION BY END OF FY20.REVISED TRANSACTION PATH FOR COMMINSURE LIFE DOES NOT IMPACT SALE OF GROUP'S 37.5% EQUITY INTEREST IN BOCOMMLIFE.IMPLEMENTATION OF JOINT CO-OPERATION AGREEMENT EXPECTED BEFORE END OF 1H FY20 AT WHICH TIME CBA WILL RECEIVE AN UPFRONT PAYMENT OF $500 MILLION.CBA AND AIA WILL ENTER INTO A JOINT CO-OPERATION AGREEMENT.  Full Article

AIA Group Updates On Proposed Acquisition Of Life Insurance Business Of CBA
Friday, 23 Aug 2019 

Aug 23 (Reuters) - Aia Group Ltd <1299.HK>::UPDATE IN RELATION TO PROPOSED ACQUISITION BY AIA OF LIFE INSURANCE BUSINESS OF COMMONWEALTH BANK OF AUSTRALIA.AIA EXPECTS THAT NET CASH OUTLAY WILL BE APPROXIMATELY US$1.0 BILLION FOR CMLA ACQUISITION.AIA AND CBA AGREED TO EXTENSION OF THEIR STRATEGIC BANCASSURANCE PARTNERSHIPS FROM TWENTY (20) TO TWENTY-FIVE (25) YEARS.AIA - CO & CBA MOVING TO IMPLEMENT PRINCIPAL COMMERCIAL AND STRATEGIC ELEMENTS OF CMLA ACQUISITION.AIA - CO & CBA ALSO INITIATING AND UNDERTAKING ALTERNATIVE ARRANGEMENTS TO COMPLETE TRANSACTION.  Full Article

AIA Group Says HY Value Of New Business $2.28 Million
Friday, 23 Aug 2019 

Aug 23 (Reuters) - AIA Group Ltd <1299.HK>::HY VALUE OF NEW BUSINESS (VONB) $ 2,275 MILLION VERSUS $1,954 MILLION.ANNOUNCES INTERIM DIVIDEND OF 33.30 HK CENTS PER SHARE.HY IFRS OPERATING PROFIT AFTER TAX $2,898 MILLION VERSUS $2,653 MILLION.HY VALUE OF NEW BUSINESS (VONB) MARGIN 65.6% VERSUS 59.5%.HY ANNUALISED NEW PREMIUMS $3,443 MILLION VERSUS $3,252 MILLION.HY VALUE OF NEW BUSINESS FROM HONG KONG $945 MILLION.SOME MARKETS EXPERIENCING HEADWINDS FROM RECENT MARKET VOLATILITY, POLITICAL, TRADE TENSIONS, SLOWING ECONOMIC GROWTH &LOWER INTEREST RATES."REMAIN VERY CONFIDENT ABOUT LONG-TERM OUTLOOK FOR AIA".  Full Article

UPDATE 1-Insurer AIA's new business drops 37% in first-half as pandemic hits sales

Aug 20 Hong Kong-based insurer AIA Group Ltd on Thursday reported a 37% fall in new business for the first half of the year, as the COVID-19 pandemic dented sales of its insurance products in its main markets of Hong Kong and China.