AIA delivers record 3Q VONB up by 16%

AIA Group Limited announces 16% growth in value of new business (VONB) on constant exchange rates (CER) for the third quarter ended  September 30, 2024.

Growth rates are shown on a constant exchange rate basis. VONB increased by 16% to a record US$1,161 million with growth from all reportable segments. Annualised new premiums (ANP) saw a growth of 14% to US$2,212 million.

Lee Yuan Siong, AIA’s Group Chief Executive and President, said, “AIA has delivered another strong performance with VONB up 16 % to US$1,161 million and growth from all reportable segments in the third quarter of 2024. We have achieved a record VONB for each of the first three quarters of 2024, highlighting the strength and diversification of our business. Our continued focus on executing our strategic priorities has further enhanced AIA’s competitive advantages, supporting double-digit VONB growth from both our agency and partnership distribution channels.

AIA operates in the most attractive region in the world for life and health insurance. I remain very confident that the consistent execution of our growth strategy will continue to deliver long-term sustainable value for all of our stakeholders”

“AIA delivered VONB of US$1,161 million for the third quarter of 2024, an increase of 16 per cent compared with the previous year and with growth from 15 of our 18 markets.

“Our Premier Agency achieved 15% VONB growth, supported by higher agent activity and productivity.

Recruitment remains strong with a double-digit increase in new agents and active agent numbers for the Group were up 9% compared with the third quarter of 2023.

Asia offers an exceptional structural and growing demand for AIA’s insurance products given the backdrop of high levels of private savings, expanding yet ageing populations, low insurance penetration and limited welfare coverage across the region.”