Insurer AIA Group’s third-quarter new business value falls 5%
AIA Group logo is pictured on a smartphone in front of an electronic display showing the same logo in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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Oct 30 : Hong Kong-based insurer AIA Group reported a 5 per cent drop in its third-quarter value of new business (VONB) on Friday, impacted by reduced demand for its insurance products in the Hong Kong and Chinese Mainland markets.
AIA’s VONB, which gauges expected profits from new premiums and is a key barometer for future growth, came in at $1.42 billion on a constant exchange rate basis in the quarter ended September 30, compared with $1.48 billion a year ago.
Source: Reuters
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