By P.R. Venkat
AIA Group's value of new business in the third quarter rose 16% on the year as the company's business saw strong growth in the insurance business across most of its markets.
AIA's new-business value came in at $1.16 billion, while its new-business margin grew 0.8 percentage points, to 52.2%, the company said Thursday.
The insurer said its business in mainland China has been growing and that Hong Kong, and Asean regions also showed strong performance during the quarter.
"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," the company said.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
10-30-24 1904ET