AIA Group has reported 25% growth in value of new business (VONB) completed in the third quarter ended 30 September.
The insurer saw VONB climb to US$1.48bn, a record for the third quarter, with a margin of 58%, up by almost six percentage points, while annualised new premiums (ANP) grew by 14% to US$2.55bn.
Over the quarter, the group reported broad-based double-digit VONB growth across 11 of its 18 markets.
This included Hong Kong, Mainland China, the Association of Southeast Asian Nations (ASEAN) and India, amid agency VONB growth of 19% and very strong recruitment – up 18%.
The group did not give a profit update for the period but it saw a 12% profit increase halfway through the year.
Double-digit growth
AIA’s premier agency distribution channel achieved 19% growth in the third quarter, generating more than 70% of the group’s sales.
Meanwhile the partnership distribution channel saw a 46% increase, driven by a strong performance from the independent financial adviser (IFA) and broker channel in Hong Kong and its bancassurance businesses.
The Hong Kong business grew by 40% to a record quarterly high pushed by domestic and mainland Chinese visitor customer segments.
Premier agency in Hong Kong saw 20% growth from a double-digit increase in active agents and higher productivity, the insurer said.
It also reported a strong increase through exclusive bancassurance partnerships, while the IFA and broker channel more than doubled from a low base last year.
Its China operation delivered sales growth of 27% with protection products increasing by 20% and the return to growth took the nine-month result to a 5% year-on-year increase.
Thailand, Singapore and Malaysia
In Thailand, the group said it remained the market leader and achieved 20% sales growth with continued strong demand for traditional protection and unit-linked products.
Singapore growth was driven by agency and partnership distribution channels with strong sales of wealth propositions to high-net-worth customers and higher demand from offshore customers.
Malaysia returned to growth as the decline in agency narrowed compared with the first half of the year, and was more than offset by a continued double-digit increase from the group’s partnership distribution.
On aggregate, the ASEAN markets delivered 15% higher VONB, supported by double-digit growth from both agency and partnership channels.
The other markets segment was unchanged from last year with double-digit growth from South Korea, Vietnam and India offset by a decline in Australia and Taiwan (China).
Strong execution of growth strategy
AIA group chief executive and president Lee Yuan Siong said it had continued strong execution of its growth strategy.
“In the third quarter of 2025, we grew VONB by 25 per cent compared with the same period last year and we achieved double-digit growth in 11 markets,” he said.
“I am confident that the continued compounding of high-quality new business will grow our in-force portfolio and drive higher earnings and cash generation for many years to come.
“We are delighted to welcome back Sir Mark Tucker to AIA as independent non-executive chairman from 1 October. With Sir Mark’s exceptional track record of strategic leadership, his deep understanding of Asia and strong global reputation, I am certain that we can build on value for all our stakeholders.”
