AIA Announces Another Record Set of Results 2012 Performance Shows Value of New Business Up 27 Per Cent
The Board of Directors of AIA Group Limited (stock code: 1299) is pleased to announce record results for the year ended 30 November 2012.
The highlights of AIA’s performance in 2012 include:
Record value of new business (VONB) – AIA’s key performance measure
- 27 per cent growth in VONB to US$1,188 million
- VONB margin of 43.6 per cent, up 6.4 pps
- 17 per cent underlying increase in ANP to US$2,696 million
Sustained value creation
- Embedded value (EV) up 15 per cent to US$31,408 million
- EV operating profit up 12 per cent to US$3,491 million
Strong IFRS operating profit and capital position
- Operating profit after tax (OPAT) up 12 per cent to US$2,159 million
- Net profit up 89 per cent to US$3,019 million
- Solvency ratio of 353 per cent
During the year, AIA also completed two significant acquisitions in Malaysia and Sri Lanka that have positioned AIA as Number 1 and 2 respectively in these important growth markets.
The Board of Directors has recommended a final dividend of 24.67 Hong Kong cents per share, subject to shareholders’ approval. This brings the total dividend for 2012 to 37.00 Hong Kong cents per share, representing an increase of 12 per cent compared with 2011.
Commenting on the results, Mark Tucker, AIA’s Group Chief Executive and President, said:
“AIA has delivered another excellent set of results with a record performance across all of our key metrics. We continue to generate sustainable and profitable growth for our shareholders through the relentless execution of our proven growth strategy and our ability to leverage our leadership position in the world’s fastest-growing insurance markets.
“AIA is making great strides as the leading pan-Asian insurer and we have strong positions in each of our 16 markets throughout the Asia-Pacific region. Our continuing success stems from the hard work of our many thousands of dedicated and professional employees, agents and intermediaries, coupled with a deep understanding of the savings and protection needs of consumers in the Asia-Pacific region.
“This combination of expertise and customer focus enables us to understand the rapidly-changing dynamics across this diverse region. We remain excited and confident about AIA’s future prospects which are supported by the substantial and growing need for savings and protection products in all markets in Asia.
“AIA has consistently delivered excellent results since becoming an independent Hong Kong- listed company in 2010. Indeed, we are now the largest Hong Kong incorporated and headquartered company listed on the Hong Kong Stock Exchange. However, we know there is much more opportunity for growth throughout Asia. We will continue to deliver on our sustainable growth strategy by launching innovative new products, improving and expanding the quality and productivity of our distribution capability, leveraging our capital strength and brand positioning and empowering our operations to ensure that each market can provide tailored and differentiated services to meet local demand.”
Commenting on the results, Wayne Besant, CEO of AIA New Zealand, said:
“We know that in business today there is a significant focus on the potential of our Asia-Pacific region. These results clearly demonstrate AIA’s ability to realise that potential. At a local level, we also see significant opportunity for growth here in New Zealand. With a diverse population that is increasingly reflective of the region as a whole, being part of a brand with such financial strength and over 90 years insurance experience across Asia-Pacific is a real advantage for our customers and for the wider insurance community here in New Zealand.”