AIA’s new business value climbs in first quarter on strong Hong Kong, China demand

Published Thu, Apr 30, 2026 · 11:02 AM

[BENGALURU] Asia-focused insurer AIA Group reported a 13 per cent jump in first-quarter value of new business on Thursday (Apr 30) while shrugging off concerns of volatility in global capital markets amid current geopolitical tensions.

AIA’s VONB, which gauges expected profits from new premiums and is a key barometer for future growth, came in at US$1.76 billion on a constant exchange rate basis for the three months ended Mar 31, compared with US$1.50 billion a year earlier.

The firm’s core Hong Kong business posted a 21 per cent rise in VONB, driven by strong demand from local customers and mainland Chinese visitors seeking offshore insurance products with competitive premiums and potentially higher returns.

The China segment, AIA’s second-largest market by sales, posted a 26 per cent rise in VONB, driven by its in-house Premier Agency sales force and selective bancassurance partnerships, where banks sell the insurer’s products to customers.

Hong Kong and China together account for about half of the new business growth globally at AIA. Besides these regions, AIA’s 18 markets in Asia include Thailand, Singapore and South Korea.

“Powerful structural tailwinds in the (Asia) region, such as favourable demographics, rising incomes, low levels of private insurance penetration and limited social welfare coverage, continue to create substantial demand for our insurance products,” the company said.

On Wednesday, peer Prudential reported a nearly 10 per cent rise in quarterly new business profit, while warning that energy-driven inflation poses risks to its smaller South Asian businesses and could dampen consumer sentiment. REUTERS