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FILE PHOTO: AIA Group logo is pictured on a smartphone in front of an electronic display showing stock graph in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
Hong Kong-based insurer AIA Group reported a record value of new business (VONB) in the third quarter on Thursday, driven by strong growth across major operations.
The insurer’s VONB, which gauges expected profits from new premiums and is a key barometer for future growth, on a constant exchange rate basis came in at $1.16 billion for three months ended Sept. 30, compared with $994 million in the prior year.